Spey Resources (CSE: SPEY) has closed on its previously announced arrangement to acquire several Quebec-based lithium properties. The properties were obtained via the purchase of Lithium Energy Metal Corporation.
The properties in question, of which there are four, are found within the James Bay Region of Quebec. Located near Patriot Battery Metals’ flagship asset, one property is said to be as close as one kilometre to the asset. The acquired properties include:
- 454 Block Project: 10 contiguous claims covering 513 hectares within the Archean Langelier Complex
- West Lac Corvette Project: 10 contiguous claims covering 513 hectares that cover the Mesoarchean rocks of the Rouget Formation
- Trieste Project: 50 claims covering 2,575 hectares within two contiguous blocks, which sits atop the Mesoarchean Trieste Formation
- Salomon Project: 100 claims covering 5,155 hectares within two contiguous blocks, which is atop Mesoarchean mineralization
The asset was acquired via the issuance of 8.9 million common shares to shareholders of Lithium Energy Metal Corp. A finders fee of 890,000 shares was also issued in connection with the purchase.
READ: Spey Resources Begins Mobilization For Lithium Brine-Focused Drill Program
Spey Resources last traded at $0.24 on the CSE.
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