VANCOUVER, BC, Nov. 13,
2024 /CNW/ -- 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.
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SOURCE Lithium South Development Corporation
