VANCOUVER, BC, Oct. 25,
2023 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt: OGPQ) is pleased to report that the first production
well at the HMN Li Project, located in Salta Province, Argentina, has been installed. The well has
been drilled to a depth of 60 meters and is now being cased and
screened. A pump test will begin immediately upon hole
development. Hole depth was determined by lithological history and
at site drilling observations.
The Company is issuing a Request for Quotation (RFQ) for the
exploration of the Sophia II and Sophia III claim blocks. The RFQ
is for the drilling of one or two test wells to confirm the
presence of a suitable and sustainable water source. A previous VES
(Vertical Electrical Sounding) detected saturated sediments within
the zone of interest. Water is a critical reagent for the
production of lithium carbonate. Located approximately 10
kilometers north of the HMN Li Project area, the claim group is in
close proximity to any future lithium production development.
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 NI 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
National Instrument 43-10Technical Report is under preparation by
Groundwater Instight of Halifax, Nova
Scotia Canada, and is expected to be filed on or before
October31,2023. A pumping/production well drilling campaign is now
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