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AIS Resources Ltd
Symbol AIS
Shares Issued 156,367,909
Close 2021-07-20 C$ 0.06
Recent Sedar Documents

Spey to begin drilling Incahuasi within three weeks

2021-07-20 07:27 ET - News Release

See News Release (C-SPEY) Spey Resources Corp

Mr. Nader Vatanchi of Spey Resources reports

SPEY RESOURCES PREPARES FOR DRILLING AT INCAHUASI LITHIUM SALAR, ARGENTINA

Spey Resources Corp. has accepted a quotation from Amaru Mining Services and preparations are being made to commence drilling at the Incahuasi salar, Argentina, in the next three weeks.

The five drill holes at Incahuasi will cover a depth of approximately 600 metres. When completed, the rig will move to the Pocitos 1 and 2 concession on the Pocitos salar approximately 120 kilometres away and drill three holes on the targeted aquifer locations. A double packer device will sample the brines at depth and be assayed. Preparations are currently being made for the camp, fuel and roads.

Nader Vatanchi, chief executive officer, commented: "We are making great progress at Incahuasi salar, with geophysics completed, the road in good condition and easy access. Amaru, our drillers, are very familiar with the salar and are completing their preparations. Our bulk brine surface samples from Incahuasi salar have been sent to the University of Melbourne to be processed. The state-of-the-art Ekosolve process handles very high levels of magnesium so we are looking forward to the results of the processing using their laboratory-scale plant and samples of lithium carbonate. At Pocitos salar, we have the results of surface sampling and geophysics completed on Pocitos 2 and drilling completed close by on Pocitos 1 by AIS Resources. The project drill team have nearly completed all their preparations. I'm delighted with the progress our team has made and look forward to the brine analysis results from drilling and University of Melbourne."

Qualified person

Phillip Thomas, BSc, Geol, MBusM, FAusIMM, MAIG, MAIMVA (CMV), a qualified person as defined under National Instrument 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 a 100-per-cent interest in the Candela II lithium brine project located in the Incahuasi salar, Salta province, Argentina, through its wholly owned subsidiary, Tech One Lithium Resources Corp. Spey also holds an option to acquire a 100-per-cent 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-per-cent interest in the Kaslo silver project, west of Kaslo, B.C.

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