09:33:45 EDT Thu 28 Mar 2024
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Lithium South Development Corp
Symbol LIS
Shares Issued 96,899,542
Close 2023-05-31 C$ 0.61
Market Cap C$ 59,108,721
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Lithium South identifies potential water source for HMN

2023-06-01 09:15 ET - News Release

Mr. Adrian Hobkirk reports

LITHIUM SOUTH IDENTIFIES POTENTIAL CRITICAL REAGENT SOURCE

Lithium South Development Corp. has completed a hydrological study on the Sophia II and Sophia III claim blocks, located at the Hombre Muerto salar, Salta province, Argentina. The report was completed by CM Hidrogeologia, a consulting and engineering company located in Salta, Argentina. Work to date has identified a potential water source near the 100-per-cent company owned Hombre Muerto North lithium project (HMN Li project), which is currently under development.

Water is a critical reagent for the production of lithium. In order to secure a reliable and sustainable water supply, the company acquired the Sophia I, II and III claim blocks for this purpose. Located approximately 10 kilometres north of the HMN Li project, the claim group is in close proximity to any future lithium production development.

Work to date included a vertical electric sounding of the Sophia II and III claim blocks. Three distinct geological zones have been identified and a drill program is now being designed to quantify the potential aquifer. Water was found on site to flow to surface.

Lithium resource update

Technical work for an updated lithium resource is being conducted by Groundwater Insight of Halifax, N.S. The technical team are awaiting final porosity results from GeoSystems Analysis Inc. of Tucson, Ariz. The resource calculation which will combine the Alba Sabrina, Natalia Maria and Tramo Claim blocks, is expected shortly.

About Lithium South Development Corp.

Lithium South owns 100 per cent of the Hombre Muerto North lithium project located in Salta province, Argentina, the heart of the lithium triangle. The Hombre Muerto salar has a history of lithium production with Livent Corp. in operation for over 25 years just south of the HMN Li project. The HMN Li project is surrounded by a $4-billion (U.S.) lithium development under way by POSCO (Korea) and the Sal de Vida project under development by Allkem. Lithium South has delineated a National Instrument 43-101 lithium carbonate equivalent (LCE) resource on the Tramo claim block, one of five non-contiguous blocks that make up the HMN Li project. Recent drilling on the Alba Sabrina and Natalia Maria claim blocks has identified additional lithium zones that will allow a new and potentially larger LCE resource to be defined. Lithium South is now transitioning from being a lithium explorer to becoming a lithium developer.

The technical and scientific information in this press release was reviewed and approved by William Feyerabend, a consulting geologist and a qualified person under National Instrument 43-101. Mr. Feyerabend participated in the production of this news release.

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