VANCOUVER, BC, Nov. 13, 2024 /PRNewswire/ — Lithium South Development Corporation (the “Company” or “Lithium South”) (TSX-V: LIS) (OTCQB: LISMF) (FRANKFURT: OGPQ) is pleased to provide an update regarding progress at the 100% owned Hombre Muerto North Lithium Project (HMN Li Project), located in Salta Province, Argentina.
Bulk Sample of Concentrated Lithium Brine
On site, 10 pilot evaporation ponds have been concentrating since December 2022. The technical team are now harvesting the concentrated brine for removal to Salta. The process will involve the use of Geotanks for each sample of interest, with approximately 19 cubic meters of brine per Geotank. The brine samples will be used for further test work with the objective of process validation. The brine program is being completed under the direct supervision of Mr. William Feyerabend, a Consulting Geologist and Qualified Person under N.I. 43-101. Evaporative extraction was selected by the Company as an industry standard, low risk process for lithium production, as outlined in the Preliminary Economic Assessment filed April 30, 2024, on SEDAR.
Corporate Update
The Company is continuing discussions with interested parties for the potential to cooperate in the development of the HMN Li Project. A site visit is planned for December with one of the interested parties.
Company President and CEO, Adrian F. C. Hobkirk is quoted: “With a solid lithium resource and industry leading brine chemistry, recent M and A activity within the lithium industry underscores the value proposition of the HMN Li Project. With the recent completion of a Phase One Environmental Baseline Study, the Company is hoping to advance the project to a Definitive Feasibility Study. Lithium South is funded well into 2025.”
About Lithium South
Lithium South owns 100% of the HMN Li Project located in Salta and Catamarca Provinces, Argentina, in the heart of the lithium triangle. The Salar del Hombre Muerto has a history of lithium production, with Arcadium Lithium (as a result of the Alkem and Livent merger) 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 Arcadium. Exploration work to date has delineated a NI 43-101 compliant 1,583,200 tonne Lithium Carbonate Equivalent (“LCE”) Resource (See Note 1 below) on the Alba Sabrina, Natalia Maria, and Tramo claim blocks, three of five non-contiguous blocks that make up the HMN Li Project. A recent Preliminary Economic Assessment published April 30, 2024, delineates potential to develop a 15,600 tonne per year lithium carbonate project. A bulk sample of evaporated brine from the project site is now being harvested for further test work in Salta, Argentina.
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
Mr. William Feyerabend, a Consulting Geologist and Qualified Person under NI 43-101 participated in the production of this news release and approves of the technical and scientific disclosure contained herein.
Note 1: A report titled, Updated Mineral Resource Estimate – Hombre Muerto North Project, NI 43-101 Technical Report Catamarca and Salta, Argentina, Mark King, PhD, PGeo, Peter Ehren, M.Sc, MAusIMM, September 5th, 2023.
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.
