SPEY RESOURCES EXTRACTS 99.5% LITHIUM CARBONATE USING EKOSOLVE™ PROCESS FROM OUR FLAGSHIP CANDELA II, INCAHUASI SALAR PROJECT
Spey Resources Corp (CSE: SPEY) (OTC: SPEYF) has successfully produced lithium carbonate from its brines at the Candela II Project using the Ekosolve™ process, achieving a 96.03% recovery rate and 99.5% purity. The University of Melbourne collaborated on this project, validating the Ekosolve process with a rapid extraction method. Spey holds the first production license for Ekosolve, positioning it to lead construction of the processing plant. Discussions for a potential joint venture with Ekosolve Ltd. are ongoing. This development enhances Spey's lithium production capabilities.
- 96.03% lithium recovery rate from brines.
- 99.5% purity in produced lithium carbonate.
- Obtained first Ekosolve production license.
- Potential joint venture with Ekosolve Ltd. in progress.
- None.
Vancouver, British Columbia, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey” or the "Company") is pleased to announce that the Chemical Engineering Department at the University of Melbourne, Australia has successfully produced lithium carbonate from lithium chloride extracted from the Company’s brines in Incahuasi Salar at the Candela II Project using the Ekosolve™ process. Spey has acquired the first Ekosolve production licence, which prioritizes the Company to be the first client to commission Ekosolve to complete the construction proposal, preliminary and plant engineering and manufacturing of the plant at Incahuasi. EkoSolve has issued seven other licences to date and will progressively commence engineering after Spey engineering is completed.
The brines and the lithium carbonate that was produced are being assayed by an external laboratory to corroborate the results achieved by the University of Melbourne and the Ekosolve team. The brine was subjected to 10 phases of continuous processing that took approximately 22 seconds for the solvent to extract the lithium in each phase. The 10th phase had extracted 135.05gm of contained lithium from 140.23gm, a
Phil Thomas, CEO of the Company, said “we are delighted to achieve these results. This not only proves the validity of the Ekosolve™ process for Incahuasi brines, but also the fast processing time using columns. Ekosolve Ltd. is planning to build a 100 tonne mini plant in Salta and the Company is in active discussions with Ekosolve Ltd. regarding a potential joint venture opportunity.”
Fig 1 Lithium Carbonate produced Fig 2 Drill Location for Pocitos 2 on Pocitos Salar
by University of Melbourne
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Phillip Thomas, BSc. Geol, MBM, FAusIMM, MAIG, MAIMVA(CMV), who is a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and is CEO of the Company.
About Spey Resources Corp.
Spey Resources is a Canadian mineral exploration company which has an
For more information, please contact:
Nader Vatanchi VP Corporate Finance, Director
nader@speyresources.ca
778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to production of lithium carbonate, timing for production, building of a 100 tonne mini plant in Salta and potential joint venture with Ekosolve Ltd. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
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