VANCOUVER, BC, Dec. 13,
2022 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt: OGPQ) is pleased to provide results from the ongoing
drill campaign at the Hombre Muerto North Lithium Project (HMN Li
Project) in Salta Province,
Argentina. The resource expansion
drill program is comprised of four core holes (Holes AS01, AS02,
AS03 and AS04) located north to south, along a channelized
extension off the main salar, and three core holes (Holes AS05,
AS06 and AS07) along the west side of the channel (see enclosed
drill map). Two drill rigs are operating on site.
The western boundary of the salar extension has now been
expanded based on current results from Holes AS05 and AS06, which
have encountered significant lithium brine (grade and thickness).
Drilling results indicates a wider salar channel than the
initial concept.
Hole AS05, located approximately 800 meters west of hole AS03,
has been completed to a depth of 260 meters, with a brine zone of
approximately 185 meters. Eight packer samples have been acquired.
Assay work is being performed at Alex Stewart Laboratories of
Mendoza, Argentina, on samples
acquired under the supervision of Dr. Mark
King, a Qualified Person under NI 43-101. The Company is
reporting results from three samples received so far from Hole
ASO5:
- Sample HMN 139 located at the top of the hole at 35 meters, and
within an alluvial fan with freshwater influence, returned 434
milligrams per liter lithium (mg/L Li).
- Sample HMN 140 was taken at 52 meters depth and returned 725
mg/l Li.
- Sample HMN 141 was taken at 66 meters depth and returned 701
mg/l Li.
Hole AS06 located approximately 800 meters west of hole AS02 is
encountering similar geology to hole AS05. The hole is currently at
170 meters and will be continued down to basement.
Hole AS02 located in the center of the salar channel, is now at
240 meters depth. Borehole logging indicates predominantly
medium-grained sand. To avoid issues with collapse of the
sandy materials, sampling will be conducted at the conclusion of
the hole.
Site preparation work is underway to locate Hole AS07 at the
southwest.
Company President and Chief Executive Officer Adrian F. C. Hobkirk is quoted, "The ongoing
exploration is returning consistently excellent results. Holes
located to the west of the claim area are delineating the Alba
Sabrina salar channel to be wider than expected, which could
positively impact the expansion of the total resource at the Hombre
Muerto North Lithium Project."
About Lithium South
The HMN Li Project is at an advanced stage of evaluation, with a
Preliminary Economic Assessment completed in April 2019. Lithium South is the 100% owner of
the HMN Li Project and expects to expand the known resource with
its current drill program. Preliminary results support this
expectation. Additional project work including permitting,
environmental studies and process test work is ongoing.
The Hombre Muerto North Lithium Project is adjacent to a
US$4 billion lithium mine under
development by the Korean multinational corporation POSCO, which
acquired their holdings from Galaxy Resources Ltd. for US$280 million. Livent Corporation is producing
lithium to the south of the Hombre Muerto North Lithium
Project and has actively operated there for over twenty-five
years.
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 preparation 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