Vancouver, BC – April 2, 2024 – Lithium South Development Corporation (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ)(the “Company” or “Lithium South”) is pleased to announce the commencement of development activities for pumping well PW23-AS-02, located within the Alba Sabrina tenement. The Alba Sabrina claim is the largest of the five, salar located claim blocks which total 3,287-hectares of the 5,687-hectare Hombre Muerto North Lithium Project (“HMN Lithium Project”) package. Pumping well PW23-AS-02 has been completed to 400 meters of depth and is being prepared for a long-term pumping test.
Initial assessments suggest the well could be highly productive. Emergence, which is brine surging out of the hole, has been observed. This early indication is a promising sign for brine production potential.
The planned installation of a custom-made metal capsule, functioning as a valve to control upwelling, further underscores the anticipation of substantial brine production. Implementing this valve highlights our proactive approach to managing the well’s emergent behavior, indicative of its expected high yield. A 20 HP pump set is to be deployed to a depth of approximately 58 meters, which aligns with the presence of the first filter in order to optimize brine pumpability. As the pumping operation commences, adjustments to pump capacity or depth may be made to maximize brine extraction.
“We are very pleased with our results to date and await further information from this wells performance,” stated Adrian F. C. Hobkirk, Founder, President & CEO.
Upon long-term pump test completion of well PW23-AS-02, a pumping well is planned to be drilled on either the Viamonte or Norma Edith claim blocks south of Alba Sabrina. Continued development success and our Preliminary Economic Assessment Financial Model, published on March 04, 2024, has brought attention to the Company. Management is reviewing potential industry alliances or other potential business transactions and will apprise the shareholders of any developments.
Mr. William Feyerabend, CPG, a Consulting Geologist and Qualified Person under National Instrument 43-101, participated in the production of this news release and approves the technical and scientific content contained herein.
About Lithium South
Lithium South owns 100% of the HMN Lithium 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 (Alkema and Livent merger) in operation for over twenty-five years, in an area just south of the HMN Lithium Project. The HMN Lithium 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 National Instrument 43-101 compliant 1,583,200 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 Lithium Project (Note 1). A recent Preliminary Economic Assessment announced on March 04, 2024, delineates the exciting potential of the 15,600 tonne per year lithium carbonate project. With pumping well installation underway, Lithium South is transitioning from being a lithium explorer to becoming a lithium developer.
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
Note 1: 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 the 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 that 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.
SOURCE: Lithium South Development Corporation
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