VANCOUVER, BC, June 21,
2022 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt: OGPQ) is pleased to announce that drilling has
commenced at the Hombre Muerto North Lithium Project (HMN Li
Project), Salta Province,
Argentina. Servicios Gelogicos of
Salta, Argentina began to turn the
first hole on June 12th.
The drilling method is diamond drill hole with double packer
sampling at select intervals. The 2,000 meter drill program is
expected to continue for the next several months, with results
reported as obtained. The program is being supervised by Dr.
Mark King, a Qualified Person under
National Instrument 43-101, and Principal Hydrogeologist and
President of Groundwater Insight, Inc. Dr. King has an extensive
background in lithium brine resource and reserve estimation.
The objective of the program is to potentially expand the
current Lithium Carbonate Resource which is defined as 756 parts
per million lithium within 571,000 tonnes in the Measured and
Indicated Categories with a low magnesium to lithium ration of 2.6
to 1.0.( see news release December 4,
2018 , and NI 43-101 compliant Technical Report titled
"Initial Measured and Indicated Lithium and Potassium Resource
Estimate, Hombre Muerto North Project, Salta and Catamarca
Provinces, Argentina", prepared by
independent consultants Montgomery and Associates of Santiago, Chile). The resource is contained
solely on the Tramo Claim Block, which is 383 hectares in size, and
is one of five salar-located, noncontiguous claim blocks that
comprise the total project area of 3,287 hectares. The drill
program will focus exploration on the Alba Sabrina Claim Block,
which is 2,089 hectares in size.
A recent TEM Study at the Alba Sabrina Claim Block (See
October 4, 2021, press release)
provides potential indication of a surficial halite aquifer of
approximately 75 meters of depth, with potential indication of
clastic brine aquifer immediately below. The TEM Study was
limited to a depth of approximately 350 meters, with the basement
rock not confirmed. The drill program will attempt to drill to
basement, limited to approximately 700 meters by the depth
potential of the drill rig.
Company President, Adrian F. C.
Hobkirk quoted, "We are excited to begin the potential
expansion of the high-quality lithium brine resource at the HMN Li
Project. In particular, to confirm our expectations that
deeper drilling will return significant results."
About Lithium South
The Hombre Muerto North Lithium Project ( HMN Li Project ) is at
an advanced stage of evaluation, with a Preliminary Economic
Assessment having been completed in April, 2019. Lithium South is
the 100% owner and intends to potentially expand the known resource
with its current drill program. Additional project work including
permitting, environmental studies and process test work is
ongoing
The HMN Li Project is adjacent to a US$840 million lithium mine under development by
the Korean multinational corporation POSCO, which acquired their
area from Galaxy Resources Ltd. for US$280
million. Livent Corporation is producing
lithium south of the Hombre Muerto North Lithium Project, and has
been in operation there for over twenty five years.
The Company is evaluating conventional evaporation as a process
method, and Direct Lithium Extraction (D.L.E.) as an alternative
method. D.L.E. test work on 2,000 liter brine samples is
currently underway by Chemphys Chengdu, in China, and Eon Minerals in Salta, Argentina.
The technical and scientific information in this press release
was reviewed by Dr. Mark King, a
Qualified Person under National Instrument 43-101. Dr. King
participated in the production of this news 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