Exploration has begun on properties recently acquired by Spey Resources (CSE: SPEY) in Quebec within the James Bay region. The four properties were recently obtained by the company via the purchase of Lithium Energy Metal Corp.
Spey has wasted no time in terms of getting exploration underway, with the purchase of the properties closing just a few short weeks ago. The assets are said to be prospective for lithium, and are found between the Corvette Lithium Project held by Patriot Battery Metals and the Adina lithium pegmatite project held by Winsom Resources.
Exploration of the properties is said to begin with a multi spectral analysis of satellite imagery, which the company will use to compare pegmatite showings with showings at nearby projects with known mineralization. This data will then be used to conduct mapping and channel sampling, which will then be followed by drilling as warranted.
“We are excited to commence exploration on these projects in the James Bay Region of Quebec, Canada. Adding exposure in Canada near a recent lithium discovery gives Spey diversification as we continue to drill and progress our flagship assets in Argentina,” said CEO Phil Thomas.
The announcement follows the news last week that the company has received drill permits for its Pocitos Salar in Argentina, where it aims to test the mineralization of the lithium brine found below surface.
Spey Resources last traded at $0.36 on the CSE.
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