VANCOUVER, BC, Jan. 6, 2022 /CNW/ -- Lithium South
Development Corporation (the "Company") (TSX-V: LIS)
(OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to provide its
shareholders a comprehensive Corporate Plan for 2022.
Lithium South is focused on the further development of the
Hombre Muerto North Lithium Project located in Salta Province, Argentina, on one of the world's premium
salars. Work to date has defined a high-quality lithium
resource that is the subject of a prior positive Preliminary
Economic Assessment filed on August 12,
2019.
To increase shareholder value, management intends to
significantly expand the known resource with a drill program and
further pumping wells. In addition, the Company will
undertake a Feasibility Study using industry proven conventional
evaporation and if warranted, Direct Lithium Extraction technology.
Lithium South has approximately CDN$
18 million in working capital and has an extensive
advertising program planned to raise investor awareness by
showcasing Lithium South's exploration/development results.
Resource Expansion
The HMN Li Project is comprised of 3,287 hectares of which only
the 383-hectare Tramo claim block has been drill tested. A
recent TEM study has identified significant expansion potential
over the balance of the claim blocks and in particular at the
2,089-hectare Alba Sabrina claim
block. Drill permissions are expected in January 2022 and road as well as drill pad
construction have already been initiated. A camp located near the
project, has been contracted to house personnel and a drill
contract is expected to be awarded this month.
Process Development
The current HMN Li Project resource located at the Tramo claim
block is defined as 571,000 measured and indicated tonnes Lithium
Carbonate Equivalent at 756 ppm Li, with a low Li to Mg ratio of
2.6:1 as reported on October 3, 2018,
in a NI 43-101 report titled Initial Measured Lithium and Potassium
Resource Estimate Homre Muerto Project, Salta and Catamarca
Provinces, Argentina, by
Montgomery and Associates of Santiago
Chile, with the author Qualified person Mr. Mike Rosko, M.Sc., C.P.G.
Eon Minerals of Salta, Argentina is currently performing conventional
evaporation test work to produce battery grade lithium carbonate
and confirm this industry standard lithium extraction process.
In addition, three 2,000-liter bulk samples of this
high-quality brine is awaiting laboratory test work by three DLE
developers; Chemphys Chengdu located in Sichuan Province, China, Lilac Solutions of Oakland, California, and Eon Minerals of
Salta Province, Argentina. Results from both
conventional and DLE test work are expected over the coming weeks
and will potentially define the optimal process for lithium
production at the HMN Li Project.
Environmental Permitting
The environmental baseline study being conducted by EC &
Asociados of Salta, Argentina, has
moved into Phase II. The dry season study has been completed
and the wet season study is nearing completion. The
environmental base line study will fulfill requirements under the
General Environmental Law, Mining Code No. 24.585. In
addition, the Company is completing a social study of the area.
Management is taking a pro-active approach to permitting in
anticipation of future project exploration success.
Company President Adrian F.C.
Hobkirk is quoted, "Our Company is approaching 2022 with the
goal of increasing our high-quality lithium resource and completing
a project Feasibility Study. Lithium South is well financed
to complete these objectives at a time of record high lithium
carbonate prices. "
About Lithium South
Lithium South is focused on developing the Hombre Muerto North
Lithium Project (HMN Li Project), located on the Hombre Muerto
Salar, a major lithium-producing salar in Argentina. The property is adjacent to land
under development by the Korean multinational corporation POSCO,
which acquired the ground from Galaxy Resources Ltd. for US
$280 million. The Company
completed a Preliminary Economic Assessment of the HMN Li Project
in 2019, utilizing conventional evaporation extraction.
The Company is evaluating conventional evaporation as a process
method, and Direct Lithium Extraction (DLE) as an alternative
method. In addition, the Company is planning to
potentially expand the known resource by drilling various areas of
interest identified in a recent TEM survey. The Company is
awaiting approval of drill permits currently under review by the
Mining Secretariat in Salta, Argentina.
This news release has been reviewed and approved by
Marcela Casini, advisor to the
Company and a Qualified Person as that term is defined in National
Instrument 43-101.
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100 / website:
www.lithiumsouth.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. The TSX Venture Exchange has not reviewed the content
of this news release and therefore does not accept responsibility
or liability for the adequacy or accuracy of the contents of this
news release.
This news release contains certain "forward-looking statements"
within the meaning of Section 21E of the United States Securities
and Exchange Act of 1934, as amended. Except for statements of
historical fact relating to the Company, certain information
contained herein constitutes forward-looking statements.
Forward-looking statements are based upon opinions and estimates of
management at the date the statements are made and are subject to a
variety of risks and uncertainties and other factors which could
cause actual results to differ materially from those projected in
the forward-looking statements. The reader is cautioned not
to place undue reliance on forward- looking statements. We
seek safe harbor.
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SOURCE Lithium South Development