VANCOUVER, BC, Oct. 18,
2023 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt: OGPQ) is pleased to announce that it has selected
Knight Piésold Consulting (KP) and JDS Energy & Mining (JDS) to
prepare an updated National Instrument 43-101 Preliminary Economic
Assessment (PEA) on its flagship Hombre Muerto North Lithium
Project (HMN Li Project), located in Salta
Province, Argentina. The
report will use the new HMN Li Project upgraded resource of
1.58 million tonnes Lithium Carbonate Equivalent (LCE). It will
also take into consideration current market conditions and pricing
for LCE. The report will use an Initial Design Capacity (IDC)
of 15,000 tonnes per year LCE production. This IDC could be
expanded as further project resources and pumping areas are
identified.
The Company has selected low risk, industry proven conventional
evaporation as the means of lithium recovery. To optimize this
process, the Company is pleased to announce it has retained Mr.
Peter Ehren, MSc. of Raw Materials Technology as the primary
engineer for Process Optimization and as a Qualified Person (QP)
for the PEA and NI 43-101 Technical Report. Mr. Ehren has
extensive experience with lithium projects across world, especially
in Argentina and Chile. As Process Engineer, he was responsible
for the design of flagship projects such as Salar de Olaroz of
Sales de Jujuy (Allkem-Livent New Co), the Pastos Grandes
(Millennium Lithium, now owned by Lithium Americas), and Salar de
Maricunga (Lithium Power International). With the direction of
Mr. Ehren, the Company is targeting lithium recovery
improvements from the current 50% to approximately 70%.
KP will provide the engineering design, cost estimation,
infrastructure, and logistics for the PEA. KP is a global
consulting firm that provides specialized services to the mining,
power, water resources, infrastructure industries. The company
focuses on creating value at every stage of a project through
quality driven, sustainable, and cost-effective solutions.
Established in South Africa in
1921, KP has expanded their reach into a global network of over
1,200 professionals based in offices in North and South America, Europe, Africa, Australia, and Asia. KP has extensive experience working in
Argentina, with offices
in Mendoza, San Juan, Neuquén, Santa
Cruz and Salta.
JDS is providing the study management and economic analysis for
the project. JDS is an engineering, project, and construction
management firm composed of a diverse set of skilled and highly
experienced mining and construction professionals. With a proven
record of providing clients with fit-for-purpose solutions and
value delivery, JDS has acquired a reputation for delivering and
executing project plans on budget, on time, and most importantly,
safely. The JDS team prides itself on delivering project
concepts from inception to full operations, providing clients with
technical engineering support, onsite operations services and
EPCM.
About Lithium South
Lithium South (LIS) owns 100% of the Hombre Muerto North Lithium
Project (HMN Li Project) located in Salta and Catamarca Provinces,
Argentina, the heart of the
lithium triangle. The Hombre Muerto Salar has a history of
lithium production, with Livent Corporation in operation for over
twenty-five years, in an area just south of the HMN Li Project.
The HMN Li Project is surrounded by a US$4 billion lithium development under
construction by POSCO (Korea) and the Sal de Vida Project under
development by Livent/Allkem. As disclosed in a news release dated
September 12, 2023, LIS has
delineated a National Instrument 43-101 compliant 1,583,100 tonne
Lithium Carbonate Equivalent (LCE) resource on the Alba Sabrina,
Natalia Maria, and Tramo claim
blocks, three of five non-contiguous blocks that make up the HMN Li
Project. A N.I. 43-101 Technical Report is under preparation by
Groundwater Instight of Halifax,
Nova Scotia Canada, and is expected to be filed on or before
October 22, 2028. A
pumping/production well drilling campaign is underway. LIS is
transitioning from being a lithium explorer to becoming a lithium
developer.
Mr. William Feyerabend, CPG, a
Consulting Geologist and Qualified Person under NI 43-101
contributed to the production of this press release and approves of
the technical and scientific information contained herein.
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 1-855-415-8100 / 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 constitute 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