Spey Resources (CSE: SPEY) is gearing up to begin drill testing its Pocitos 2 concession, which is found in Argentina. The firm this morning revealed that it has begun mobilization for the planned drill program that is set to begin in November.
The program is set to see a 400 metre deep exploration well drilled at the concession, with a second such well possible as well. Once completed, the drill rig will then move to the firms Incahuasi salar, which is found 120 kilometres away. That salar will then see up to three holes drilled into the aquifer below.
Once drilling is completed, a double packer will then be utilized to sample the brines and determine the mineralized content. Once results are in hand, the company then intends to potentially drill a production well.
“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,” commented CEO Phil Thomas.
Drill permits for the program have been submitted, with certification of the permits expected next week.
Spey Resources last traded at $0.235 on the CSE.
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