Spey Incahuasi Salar TEM Geophysics Update
Spey Incahuasi Salar TEM Geophysics Update
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2021) -
Spey Resources Corp.
(
CSE: SPEY
)
(
OTC Pink: SPEYF
)
("Spey" or the "Company")
is pleased to announce that it has completed the
surface exploration and TEM geophysics at Salar de Incahuasi (the "Incahuasi Project" or "Incahuasi") in
the Province of Salta, located approximately 45 kilometers from the township of Tolar Grande, Argentina.
A Transient Electro Magnetic ("TEM") geophysics study was conducted over 9 kilometres with three
lines done at 200m spacing.
The results are being processed in Salta, Argentina and also Vancouver,
Canada.
Three days of heavy snow slowed work down but this cleared enabling the crew to complete
their work.
Quantec utilized a center loop sounding method and the loop size was 200m x 200m. Depth of analysis
went down to 200-250m below surface and the total number of TEM sites with 200m station intervals
was 50 sites. All sites were read using transmitter frequencies of 25 Hz.
Our geology team pegged the lines for the geophysics and were able to take ten 20 litre samples using
a motorized augur from 6 locations on the surface of the salar. Given the rain and snow conditions, it was
clear that rainwater had soaked into the surface brines. However, they were able to collect 25 surface
samples and ten 20 litre samples for processing in Melbourne, Australia.
The results of two 20L samples processed so far are very pleasing with one showing a lithium
concentration at 143ppm and it appears that the aquifers are stratified. It is expected that the lithium will
be more concentrated at depth. The other chemical elements were exceptional for the Ekosolve™ Direct
Processing system.
Spey Resources chief executive officer and director Nader Vatanchi states, "The initial results are very
promising and exciting. We patiently await more data as more detailed information will help the company
plan and strategize around its upcoming drill program."
Once the surface samples assays have been processed, a further announcement will be made.
Qualified Person
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined
under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of
this news release, and has approved the disclosure herein.
Mr. Thomas is independent of the Company
but discloses that he is a shareholder of SPEY.
About Spey Resources Corp.
Spey Resources is a Canadian mineral exploration company which holds an option to acquire 100%
interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina.
Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the
Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the
Kaslo Silver project, west of Kaslo British Columbia.
For more information, please visit the Company's public disclosure at
www.sedar.com
and
www.speyresources.ca
Contact:
Nader Vatanchi
CEO, Director
778-881-4631
www.speyresources.ca
###
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this release
.
Certain statements contained in this press release constitute "forward-looking information" as such
term is defined in applicable Canadian securities legislation. The words "may", "would", "could",
"should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions as they relate to the Company, are intended to identify forward-looking
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current information available to them, and are subject to certain risks, uncertainties and assumptions,
including, without limitation: the potential of the Company's mineral properties; the estimation of
capital requirements; the estimation of operating costs; the timing and amount of future business
expenditures; and the availability of necessary financing. Many factors could cause the actual results,
performance or achievements that may be expressed or implied by such forward-looking information
to vary from those described herein should one or more of these risks or uncertainties materialize.
Such factors include but are not limited to: changes in economic conditions or financial markets;
increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and
competitive developments; and exploration or operational difficulties. This list is not exhaustive of the
factors that may affect forward-looking information. These and other factors should be considered
carefully, and readers should not place undue reliance on such forward-looking information. Should
any factor affect the Company in an unexpected manner, or should assumptions underlying the
forward-looking information prove incorrect, the actual results or events may differ materially from the
results or events predicted. Any such forward- looking information is expressly qualified in its entirety
by this cautionary statement. Moreover, the Company does not assume responsibility for the
accuracy or completeness of such forward-looking information. The forward-looking information
included in this press release is made as of the date of this press release and the Company
undertakes no obligation to publicly update or revise any forward-looking information, other than as
required by applicable law.
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