Source: Spey Resources Corp.
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  • Spey Resources (SPEY) has mobilized the drill rig and completed camp preparations for drilling its 400-metre exploration well in its Pocitos 2 concession
  • The drilling work permit has been processed, and the company awaits official certification of the permit, due next week
  • Once exploration drill holes with approximately 400 metres of drilling are completed, the rig will move to Incahuasi salar, approximately 120 km away and drill three holes on the targeted aquifer locations
  • Spey Resources Corp. (SPEY) is up 6.38 per cent and is trading at $0.25 per share as of 1:25 p.m. ET

Spey Resources (SPEY) has mobilized the drill rig and completed camp in preparation for its 400-metre exploration well in its Pocitos 2 concession.

The drilling work permit has been processed, and the company awaits official certification of the permit due next week. Drilling is set to begin in November 2022.

Once exploration drill holes with approximately 400 metres of drilling are completed, the rig will move to Incahuasi salar, approximately 120 km away and drill three holes on the targeted aquifer locations.

Source: Spey Resources Corp.

After the exploration hole is drilled and a pumping test is completed, a further hole or a production well will be drilled using the rotary drill machine. The camp, internet, diesel tanks and geological offices have already been constructed in the town of Pocitos.

Spey’s CEO, Phil Thomas, commented that the team is making great progress at Pocitos salar, with surface sampling, and geophysics completed on Pocitos 2 and drilling to be completed shortly on Pocitos 1.

“The project drill team has nearly completed all their preparations, and the rig is stationed close by. I’m delighted with the progress our team has made and look forward to the brine analysis and pump test results from the drilling.”

Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire a 100-per-cent interest in the Candela 2 and Pocitos 2 lithium brine projects and a 20-per-cent interest in the Pocitos 1 lithium project, all of which are located in the Salta Province, Argentina.

Spey Resources Corp. (SPEY) is up 6.38 per cent and is trading at $0.25 per share as of 1:25 p.m. ET.


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