Overview

Argentina and lithium mining go hand-in-hand. The South American nation is one of three encompassed in the prolific Lithium Triangle, a region that holds more than half of the world’s lithium deposits. With demand for lithium on the rise, Argentina’s advantageous positioning as the host of the world’s third-largest lithium reserves presents a world-class mining opportunity.

Market researchers project the global lithium market to spike to US$8.24 billion in 2027. The international drive to produce sustainable alternatives for transportation through the adoption of electric vehicles and greener power makes Argentina an especially unique location for high yield lithium mining across the country’s famous lithium salars.

Spey Resources (CSE:SPEY,OTCQB:SPEYF,FSE:2JS) is a Canadian mineral exploration company focused on addressing the demand for lithium as a natural resource to fuel the future. The company holds an option to acquire 100 percent interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina and an option to acquire a 100 percent undivided interest in the Silver Basin project and Kaslo silver project in British Columbia.

The Candela II project or “Incahuasi project,” hosts two major aquifers located with 145ppm lithium and strong brine flow. In July 2021, Spey Resources announced it had accepted a quotation from Amaru Mining Services and made preparations to commence drilling at the Incahuasi Salar, Argentina within a few weeks. This exciting chapter in the exploration of the Candela II project includes up to four exploration wells and expansive testing, drilling and pilot plant construction.

The short-term next steps for the company include utilizing drawdown funding for C$15 million for a large pilot plant with an estimated 100-ton capacity. The company plans to complete a US175 million funding and US$60 million in drawdowns to construct the plant over 18 months. This pilot plant could see full production in 2.5 years.

Spey Resources continues to advance its goals of meeting lithium demand with its recent option agreement to acquire a 100 percent interest in the Pocitos I and II claims from AIS Resources in Salta, Argentina. The property has strategic positioning near high yield lithium projects and leverages excellent infrastructure, including gas, electricity and road access.

The company’s major silver projects in British Columbia offer excellent exposure to the precious metals and silver markets and boast exceptional positioning in a politically stable, mineral-rich and mining-friendly jurisdiction. The Silver Basin gold-silver property leverages close proximity to the historic Silver Cup mining camp and Kaslo Silver hosts diverse deposits of silver-lead-zinc, making it an exceptional exploration prospect.

Spey Resources has a highly experienced management and technical exploration team with over a century of professional expertise in the resource, finance and energy sectors. This results-oriented team and their vested interest in company success prime Spey for exceptional discovery potential and advanced development of its lithium and precious metal projects.

Company Highlights

• Spey Resources Corp. is a Canadian mineral exploration company focused on advancing its lithium projects to address the demand for lithium as a natural resource to fuel a greener future.
• The company has an option to acquire 100 percent of the Candela II project located on the Incahuasi Salar in the prolific Lithium Triangle area of Salta, Argentina.
• Candela II/ Incahuasi project hosts two major aquifers with 145ppm lithium and strong brine flow. AIS Resources is the project manager.
• In June 2021, Spey Resources signed an option agreement to acquire 100 percent interest in the Pocitos I and II claims from AIS Resources in Salta, Argentina. The project leverages excellent infrastructure and highly prospective exploration potential.
• The company’s Canadian projects include the Silver Basin gold-silver property and Kaslo Silver property in British Columbia. Both projects present excellent exposure to the precious metals market and leverage historic silver mining districts.
• Short-term goals for the company include working to operate its pilot plant at Candela II and reach full production within 2.5 years.