2022-03-03 08:09:12
VANCOUVER, BC, March 3, 2022 /CNW/ — Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to announce that road access and drill pads have been completed and a 2000 Meter drill program is staged to commence at the HMN Li Project, Salta Province, Argentina.
The three pads constructed on the Alba Sabrina claim block are approximately 2.5 kilometers apart across the project area, north to south. The drill program consists of three drill holes, one per pad.
At 2,089 hectares, the Alba Sabrina claim is the largest block in the project package and has not been drill tested. A drill contract is expected to be announced in the coming days.
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 a $ US 840 million lithium mine development being undertaken by the Korean multinational corporation POSCO, which acquired the raw 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 two lithium recovery processes in parallel – 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
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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.
