VANCOUVER, BC, Feb. 15, 2022 /CNW/ -- Lithium South
Development Corporation (the "Company") (TSX-V: LIS)
(OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to announce that it has
finalized a drill plan for the Hombre Muerto North Lithium Project
( HMN Li Project ), Salta Province,
Argentina. The three
core hole program will be located on the Alba Sabrina claim block,
which at 2,089 hecatares is the largest salar located block in the
claim package. A recent TEM study ( October 4, 2021 news release ) identified
significant aquifer potential; such an aquifer, if confirmed by
drilling may significantly increase the lithium resource. The
program will be managed by Ms. Marcela
Casini, a highly experienced Argentina based lithium explorationist, and a
Qualified Person under National Instrument 43-101. A drill
contract is expected to be finalized in the coming days. In
addition, the Company has issued a Request for Proposal for
drilling up to three production wells if exploration drilling
results are favorable. In addition, the remaining claim blocks on
the salar are being evaluated for drill site locations to further
enhance the potential development of a larger resource.
The property package of 5,687 hectares is comprised of nine
mining concessions, with 3,287 located directly on the salar.
To date only the Tramo claim block (383
hectares) has been explored and contains the current Ni
43-101 defined LCE resource. With only 14% of the whole
property explored, there is significant resource expansion
potential. The project is strategically located with developed
infrastructure. The HMN Li Project is surrounded by two
leading lithium producers, Korean giant POSCO which is making an $
U.S. 840 million investment in the development for their project,
and Livent which produces lithium south of the LIS HMN Li
Project.
About Lithium South
Lithium South is focused on developing the Hombre Muerto North
Lithium 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. Three candidates for DLE are currently being
evaluated. Two, 2,000-liter bulk brine samples are being
evaluated outside of Argentina. One sample is being tested by
Lilac Solutions of Oakland ,
California. A second 2,000 liter
bulk sample is being tested by Chemphys Chengdu, in
China. DLE test work is also currently underway in Salta,
Argentina by Eon Minerals.
This press 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. Ms Casini participated in the writing of this
press release.
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 Corporation