Spey Resources prepares for drilling at Pocitos 2, Pocitos

Vancouver, British Columbia, Oct. 06, 2022 (GLOBE NEWSWIRE) — Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (“Spey” or the “Company“) announces that it has mobilised the drill rig and completed camp preparations for drilling its 400m exploration well in its 600has Pocitos 2 concession.

The camp, internet, diesel tanks and geological offices have been constructed in the town of Pocitos. The drilling work permit has been processed and we are waiting on official certification of the permit due next week.

Fig 1 Diesel tank storage in place                 Fig 2 accommodation, office quarters

Figure 1 The black horizontal line delineates the aquifer. The red areas have the lowest resistivity which indicate a presence of potassium and lithium. Drill Holes one and two on Pocitos 1 located 1km away produced significant amount of lithium bearing brines in 2018.

Once or two exploration drill holes with approximately 400m of drilling are completed, the rig will move to Incahuasi salar approximately 120km away and drill three holes on the targeted aquifer locations. A double packer will sample the brines at depth and be reported on.

After the exploration hole is drilled and a pumping test completed a further hole or a production well will be drilled using the rotary drill machine.

Phil Thomas CEO commented “ We are making great progress at Pocitos salar, with surface sampling, geophysics completed on Pocitos 2 and drilling to be completed shortly closeby on Pocitos 1. The project drill team have nearly completed all their preparations and the rig is stationed closeby. I’m delighted with the progress our team has made and look forward to the brine analysis and pump tests results from the drilling.”

Phillip Thomas

CEO

About Spey Resources Corp.

Spey Resources is a Canadian mineral exploration company which has acquired a 80% interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province,…