Spey Resources: Assay Results Show Silver at Standfast-Wigwam Zinc Project
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2019) - Spey Resources Corp. (CSE: SPEY) ("Spey" or "the Company") is pleased to announce that assay results have been received from 29 rock samples obtained from the Company's Standfast-Wigwam Project located in the Kootenay Arc in south-eastern British Columbia. Results include 28.60 grams per tonne (gpt) silver, 17.95 % lead and 11.95% zinc from a 60 centimeter chip sample within the northern area of the Main Zone. Numerous samples returned elevated silver (Ag), lead (Pb) and zinc (Zn) with 11 samples returning greater than 8% combined lead and zinc.
Of the 29 rock samples, 25 were chip and grab samples of fine grained quartzite and limestone (silicified), containing visible sulphide mineralization, taken over a 425 metre long northern section. Four chip and grab samples were obtained from a 250 metre long southern section where massive sulphide mineralization, brecciation and silicification were noted. All samples were taken from the Main Zone that has been traced for over three kilometres.
These initial rock sample results indicate a northwesterly trending area of interest worthy of continued exploration, with potential for near surface zinc-lead-silver mineralization. Silver values appear to show a previously unrecognized increase in grade related to silicification (silic) as noted by the samplers.
Sample results are tabulated and summarized in the table below:
|Sample#||Location||UTM E||UTM N||Chip/Grab*||Sample Description||Ag g/t||Pb %||Zn %|
|32251||N Main||431596.6||5636652||65cmm chip||silic band mass sulph, sph||20.1||5.21||2.34|
|32252||N Main||431643.3||5636639||1.0m chip||band silic lmst, sph-gal-py||4.72||3.02||6.1|
|32253||N Main||431643.3||5636639||80cm chip||adjoining bottom of 32252||1.51||1.61||7.33|
|32254||N Main||431643.3||5636641||1.0m chip||adjoining bottom of 32253||2.21||2.96||5.51|
|32255||N Main||431643.3||5636645||1.0m chip||start 1.0m above 32252||9.31||3.68||1.83|
|32256||N Main||431675.1||5636653||1.0m chip||bx-silic lmst, po-py-sph||3.01||0.48||2.9|
|32257||N Main||431694.2||5636642||1.0m chip||band sulph, gal-sph-py||2.07||2.93||3.48|
|32258||N Main||431882.5||5636555||2.50m chip||band sulph, po-py-gal-sph||8.64||3.74||0.59|
|32259||N Main||431870.3||5636632||30cm grab||silic limst, band py-sph-gal||13.8||5.67||3.78|
|32260||N Main||431858.7||5636612||float grab||silic lmst, 20cm gal bands||5.22||8.94||0.11|
|32261||S Main||432444.9||5636410||25cm grab||mass py-po-sph, carb-bx||0.92||0.51||6.15|
|32262||S Main||432443||5636425||25cm grab||band bx silic lmst, gal-sph||10.4||1.13||3.14|
|32263||N Main||432622||5636364||grab||mudstn frags in quartzite||0.57||0.1||0.07|
|32401||N Main||431540.6||5636653||1.5m grab||f.g. dk-gry mass sulph||2.36||0.91||4.09|
|32402||N Main||431540.6||5636655||grab-float||wht silic lmst, py-gal-sph||3.2||0.86||3.39|
|32403||N Main||431535.6||5636694||40cm chip||silic bx limst, f,g. gal-sph||5.03||0.67||6.56|
|32404||N Main||431525.1||5636672||1.0m chip||dk gry band mass sulph||1.32||0.52||2.26|
|32405||N Main||431514.2||5636688||60cm chip||bx silic lmst, gal-sph-py||28.6||17.95||11.95|
|32406||N Main||431607.7||5636643||60cm chip||silic lmst, f.g. gal-sph-py||9.32||11.4||1.34|
|32407||N Main||431618.5||5636621||50cm chip||Silic cryst limst f.g. gal-sph||10.55||7.59||0.45|
|32408||N Main||431649.2||5636638||80cm chip||quartzite, f.g. band sulph||33.3||5.42||1.54|
|32409||N Main||431666.4||5636632||1.0m chip||dk gry lmst, v.f.g. sphal-gal||3.79||3.88||8.19|
|32410||N Main||431718.5||5636626||50cm chip||f.g. band mass sulph po-sph||3||2.25||3.18|
|32411||N Main||431754.3||5636582||60cm chip||chert, f.g. band mass sulph||2.64||0.77||2.88|
|32412||N Main||431831.6||5636562||1.0m chip||crystl limst, py-gal-sphal||4.82||0.75||2.7|
|32413||N Main||431854.3||5636626||1.0m chip||gry-wht band limst, gal||0.59||0.3||0.7|
|32414||N Main||431802.3||5636618||50cm chip||gry-wht band lmst, <5% sul||1.36||1.69||0.75|
|32415||S Main||432478.5||5636381||20cm chip||x-cut fault zone, gal-sph-py||2.93||1.88||7.32|
|32416||S Main||432442.7||5636421||40cm chip||silic limst, po-sph-py, < gal||9.9||1.61||7.59|
"Spey is encouraged by the previously un-recognized increase in silver grades related to silica content in samples with low Pb values," said David Thornley-Hall, President of the Company. "We look forward to continuing to gain a better understanding of this compelling prospect."
*The reader is cautioned that grab samples are, by nature, selective and may not be representative of average grades on the property.
All rock samples were dried, crushed to 70% passing 2mm, then split to 250g, then pulverized to 75% passing 75um, at ALS Canada Ltd. (an Accredited Laboratory, ISO 17025:2005 Certified) in North Vancouver, BC. A portion of the resulting pulps were digested with aqua regia in a graphite heating block. After cooling the solution is diluted with deionized water and analyzed by ICP-AES (inductively coupled plasma-atomic emission spectrometry) for 51 elements. Ore grade samples containing >10,000 ppm Pb or Zn were also analyzed by ICP-AES to quantify the Pb and Zn to a percentage level (ME-OG46 assay procedure). ALS inserts blanks and standards and provides check re-samples at various intervals for each sample shipment analyzed to verify data.
About Spey Resources Corp.
The technical information contained in this news release was reviewed and approved by Perry Grunenberg, P. Geo., a consultant to the Company and a qualified person for the purposes of National Instrument 43-101.
On behalf of the Board of Directors of
SPEY RESOURCES CORP.
President & Director
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