Business
Spey Resources Commences Exploration at Standfast-Wigwam Zinc Project
Vancouver, British Columbia--(Newsfile Corp. - November 5, 2018) - Spey Resources Corp. (CSE: SPEY) ("Spey" or the "Company") is pleased to announce that explor
About this update from Armory Mining Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - November 5, 2018) - Spey Resources Corp. (CSE: SPEY) (\"Spey\" or the \"Company\") is pleased to announce that exploration work has begun on the Company's Standfast-Wigwam Project 19km southeast of Revelstoke, B.C. With winter conditions fast approaching, the exploration campaign will be focused on surface and underground rock chip and channel sampling to locate and define higher grade portions of thickened-folded zones of conformable sulphide mineralization. Initial work will target westerly extensions of the main zone in proximity to the historic Gold and Sleeper adits. To-date, approximately only two thirds of the 3km long mineralized zone has been sampled. The rock chip and channel sampling program is designed to enhance the geological understanding of the Project and will assist with the targeting for a diamond drill program scheduled for spring 2019. Property History The Standfast-Wigwam zinc-lead occurrence has been known since 1915. From 1924 to 1930, work conducted included geophysical surveys by Schlumberger Electrical Prospecting Co., 1,791 meters of diamond drilling in 28 holes, trenching and the completion of 1,969 meters of underground workings in 13 adits. From 1960 to 1984, detailed mapping, sampling, road construction and diamond drilling of over 1,000 meters in more than 20 holes was carried out. This work was conducted by; Kennco Explorations, Cominco, Parmac Mines, Canex Aerial Exploration, Cyprus Anvil Mining and Metallgesellschaft Canada. Most of the original diamond drill hole data for the Standfast-Wigwam deposit has been lost. The only historical drill hole for which assays have been recorded is a 15.8 meter drill intercept (The true width of the mineralized zone is unknown) with a weighted average grade of 15.20% zinc and 9.87% lead (BC Ministry of Energy and Mines Property File #811182). The Qualified Person has been unable to verify the historical drill results referred to above and therefore the information cannot be relied upon. Corporate Update The Company also reports that it has secured the services of Mr. John Mirko as a Project Consultant to provide guidance to management with the oversight of this exploration program. Marshall Farris, CEO of Spey Resources, states \"John's 40+ years of on the ground exploration, development and production e...