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Spey Resources Corp. (CSE:SPEY, OTC:SPEYF) has entered into a share exchange agreement with Antimony Assets Inc. to acquire 100% of its shares for 4,975,000 common shares at $0.0675 per share. The acquisition includes two mineral claims covering 3,550 hectares in Haida Gwaii, British Columbia, known as the Riley Creek Project. The project surrounds four gold-antimony occurrences within the Middle Jurassic Yakoun Group. The company also announced its name change to Armory Mining Corp., effective November 19, 2024, with a new trading symbol 'ARMY' on the CSE.
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Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) provides an update on its Incahuasi Salar property, Candela II, following its January 2023 news release. The company plans to utilize data from previous diamond hole drilling (DDH) and new geophysics to support a potential resource estimate study. Highlights include securing a contractor for a magnetotelleric survey starting April 2023 and a request for proposal system for resource estimate study bids. In 2021, five DDH wells were drilled, with one well showing promising lithium grades of 173ppm. The wells' attributes have been deemed suitable for further assessment.
Spey Resources Corp. has entered into an option agreement with Recharge Resources Corp. for the Pocitos 2 lithium brine project in Argentina. Recharge may acquire a 100% interest by paying US$744,800 and issuing $500,000 worth of common shares by June 30, 2023. If the option is exercised, an additional payment of $500,000 is required within 18 months. The agreement includes a royalty of 7.5% on lithium carbonate sales from the project. All shares issued are subject to a four-month hold under Canadian securities laws. Spey Resources focuses on lithium exploration in Argentina and Quebec.
Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) is prioritizing its Incahuasi Salar property for resource estimation using data from 5 diamond drill holes drilled in 2021. The company postponed drilling at Pocitos 2 due to rig delays. Highlights include the suitability of existing wells for NI 43-101 resources, potential lithium grades exceeding 200 mg/L, and plans for further geophysical work. Spey will not acquire A.I.S. Resources Limited’s 20% interest but is considering a joint venture. The company aims to conduct extensive testing and sampling to inform its resource estimate in 2023.
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