Spey Resources Corp. (SPEY.CN) (SPEYF.PK)

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SPEY INCAHUASI SALAR TEM GEOPHYSICS UPDATE

Vancouver, BC – June 9, 2021– Spey Resources Corp. (CSE: SPEY) (OTCPK: 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. Loop size was 200m x 200m. Depth of analysis went down to 200-250m below surface. The total number of TEM sites with 200m station intervals was 50 sites. All sites were read using transmitter frequencies of 25 Hz.

 

The 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, however it appears that the aquifers are stratified.  It is expected that the lithium at depth will be more concentrated.  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 flagship project.”

 

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

nader@speyresources.ca

778-881-4631

www.speyresources.ca

 

 

###

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of 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 information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company’s current views and intentions with respect to future events, and 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.

 

SOURCE:  Spey Resources Corp

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About Spey Resources

Company Overview

 

We are a Canadian exploration company, rooted in addressing the demand of lithium as a natural resource to fuel the future. 

 

Through our unique extraction methods we are able to reduce capital expenditures while providing an environmental benefit of preventing water wastage.

 

Our highly skilled technical team has proven expertise in drilling lithium brines.

 

We have an option to acquire 100% of the Candela II Project,  located on the Incahuasi Salar in the prolific Lithium Triangle area, Salta Province, Argentina. 

 

We hold an option to acquire a 100% undivided interest in the Silver Basin project located in the Revelstoke Mining Division of British Columbia; and the Kaslo Silver property situated in southern British Columbia. Spey Resources was incorporated in 2017 and is headquartered in North Vancouver, Canada.

 

Our Purpose & Commitment

 

Spey Resources’ vision is to contribute to the evolution of high performance lithium powered vehicles as the key mode of transportation on a global scale. We provide the demand for this commodity through our mining projects. 

We are committed to utilizing sound environmental processes to produce lithium, always considering the communities we work in and the land we manage. 

Projects

 

SALTA, ARGENTINA

Incahuasi Salar

Spey Resources Corp. is pleased to announce that it has begun exploration activities in the Salar de Incahuasi (the “Incahuasi Project” or “Incahuasi”), the “Lithium Triangle” in the Province of Salta, located approximately 45 kilometers from the township of Tolar Grande, Argentina. 

 

EKOSOLVE TECHNOLOGY

Next generation of Lithium Extraction excellence

Spey Resources is committed to the process of timely, cost-reduced, environmentally considered mining practices. Utilizing Ekosolve Technology, this revolutionary process cuts capital and operations costs and accelerates project start up. 

 

 

Providing resources for unprecedented demand 

Due to the adoption of battery storage + production by global gigafactories, demand for lithium is sending the resource into major growth in markets.  Learn what we are doing and where we are exploring.

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