Spey Resources Prepares For Drilling at Incahuasi Lithium Salar, Argentina
Spey Resources Prepares For Drilling at
Incahuasi Lithium Salar, Argentina
Vancouver, British Columbia--(Newsfile Corp. - July 20, 2021) - Spey Resources Corp. (CSE: SPEY)
(OTC PINK: SPEYF) (FRA: 2JS) ("
Spey
" or the "
Company
") announces that it has accepted a
quotation from Amaru Mining Services and preparations are being made to commence drilling at the
Incahuasi Salar, Argentina in the next three weeks.
The drilling will take place in the locations shown
below:
Figure 1
: Red stars show drill hole locations 1 -5
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6150/90719_spey.h2.jpg
The five drill holes at Incahuasi will cover a depth of approximately 600m. When completed, the rig will
move to the Pocitos 1 and 2 concession on the Pocitos Salar approximately 120km away and drill three
holes on the targeted aquifer locations.
A double packer device will sample the brines at depth and be
assayed.
Preparations are currently being made for the camp, fuel and roads.
Figure 2:
Line 1 - 003-011 survey points with drill locations, aquifers at depth 150m and 250m
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6150/90719_b3c59039e4638a31_009full.jpg
Figure 3:
Drill hole in Line 3 point 020-027. Aquifer extends from 10m to 100m, then two 50m drill holes
to test the surface sample high.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6150/90719_b3c59039e4638a31_014full.jpg
Nader Vatanchi CEO commented, "We are making great progress at Incahuasi Salar, with geophysics
completed, the road in good condition and easy access.
Amaru, our drillers are very familiar with the
salar and are completing their preparations.
Our bulk brine surface samples from Incahuasi Salar have
been sent to the University of Melbourne to be processed.
The state of the art Ekosolve™ process
handles very high levels of magnesium so we are looking forward to the results of the processing using
their laboratory scale plant and samples of lithium carbonate.
At Pocitos Salar, we have the results of
surface sampling and geophysics completed on Pocitos 2 and drilling completed close by on Pocitos 1
by AIS Resources.
The project drill team have nearly completed all their preparations.
I'm delighted with
the progress our team has made and look forward to the brine analysis results from drilling and
University of Melbourne."
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
through its wholly owned subsidiary Tech One Lithium Resources Corp. 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 contact:
Nader Vatanchi CEO, Director
778-881-4631
Cautionary Note Regarding Forward-Looking Statements:
Certain disclosure in this release may
constitute "forward-looking information" within the meaning of Canadian securities legislation. In
making the forward-looking statements in this release, the Company has applied certain factors and
assumptions that the Company believes are reasonable. However, the forward-looking statements in
this release, including without limitation, statements pertaining to the future exercise of the Agreement
to acquire an interest in the Property, the Company's exploration programs and the Company's
mineral property development plans, are subject to numerous risks, uncertainties and other factors
that may cause future results to differ materially from those expressed or implied in such forward-
looking statements. Such uncertainties and risks include, without limitation, financing risks, delays in
obtaining or inability to obtain required regulatory approvals, legislative, environmental and other
judicial, regulatory, political or competitive developments, exploration and operational difficulties, the
timing of future business expenditures, the potential of the Company's mineral properties and
changes in economic conditions or financial markets. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially from
those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-
looking statements. The Company does not intend, and expressly disclaims any intention or
obligation to, update or revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/90719