VANCOUVER, BC , Sept. 14,
2023 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt: OGPQ) is pleased to announce the initiation of a
pumping/production well drilling campaign at the 5-claim block
Hombre Muerto North Lithium Project (HMN Li Project) Salta,
Argentina.
This Phase One program will include the drilling of three wells:
two at Alba Sabrina (AS-WW-01-23 and AS-WW-02-23) and one at
Natalia Maria (NM-WW-01-23). Notably, each well will be fitted with
screen filters and blind casing. Upon completion, long-term
pumping tests will be conducted to determine brine transmissivity,
including the maximum flow of each well. The results will provide
key information for the upcoming Feasibility Study.
The first well, NM-WW-01-23, located at the Natalia Maria claim
block, is currently being drilled to a depth of 200m. Early results from core drilling are
promising, with a lithium concentration exceeding 1,175 milligrams
per liter (as announced on April 6,
2023).
Following the completion of the Natalia Maria well, the team
will begin drilling two wells at the Alba Sabrina block, with
depths of 400m and 200m, respectively. The Alba Sabrina claim
block is the largest in the HMN Li Project claim group,
encompassing 2,089 hectares of the total 3,287-hectare salar
footprint. The upgraded project resource (September 12, 2023) delineates a resource of
927,500 tonnes of Lithium Carbonate Equivalent (LCE) within this
block.
In addition to the above, Lithium South Development is reviewing
technical data associated with the southern Viamonte and Norma Edit
claim blocks. These blocks are being evaluated for potential
production well installation during this drilling campaign.
Advertising Program
To assist in distributing the Company message,
Batteryjuniors.com, an advertising and marketing company based in
Sweden, have been retained to
develop a advertising program world wide with special focus on
the United States and Canada. Total cost for the six month program
is 100,800 Euros and is expected to
begin immediately.
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 Allkem. 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. LIS is
now transitioning from being a lithium explorer to becoming a
lithium developer.
Mr. William Feyerabend, 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
