VANCOUVER, BC, April 6,
2023 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt OGPQ). Lithium South Development is pleased to announce
outstanding results from the Natalia Maria claim block at the
Hombre Muerto North (HMN) Lithium Project, located in Salta Province, Argentina. High-grade lithium results have
been encountered in exploration corehole NM01. Brine samples
collected from NM01 have an average lithium grade of 1176 mg/L Li
and a low magnesium to lithium ratio of 2.66. Full results are
summarized in Table 1.
|
Hole NM01
Sample ID
|
Depth from
[m]
|
Depth to
[m]
|
Cond.
[mS/cm]
|
Dens.
[g/ml]
|
Li
[mg/l]
|
Mg
[mg/l]
|
Mg/Li
Ratio
|
|
HMN 174
|
24
|
25
|
202.6
|
1.217
|
1246
|
3346
|
2.69
|
|
HMN 185
|
45
|
46
|
230.1
|
1.215
|
1139
|
3086
|
2.71
|
|
HMN 176
|
56
|
57
|
196.3
|
1.218
|
1230
|
3274
|
2.66
|
|
HMN 177
|
80
|
81
|
196.3
|
1.218
|
1190
|
3192
|
2.68
|
|
HMN 180
|
110
|
111
|
209.5
|
1.218
|
1176
|
3147
|
2.68
|
|
HMN 179
|
120
|
121
|
208.9
|
1.218
|
1221
|
3131
|
2.56
|
|
HMN 181
|
140
|
141
|
208.2
|
1.218
|
1194
|
3071
|
2.57
|
|
HMN 183
|
161
|
162
|
203.1
|
1.216
|
1115
|
3038
|
2.72
|
|
HMN 184
|
188
|
189
|
206.2
|
1.215
|
1071
|
2844
|
2.66
|
Table 1: Lithium and magnesium results for
the brine samples collected from exploration hole NM01 at the
Natalia Maria claim block.
One additional shallow monitoring well was completed at Natalia
Maria adjacent to the deep monitoring well in the original
corehole. These monitoring wells will be used to carry out
hydraulic testing ("slug testing") on NM01, to provide preliminary
insight into the permeability of the area and help estimate the
future well flow.
With the compilation of final results from the drill program,
the Company looks forward to the full program results and to the
delineation of an updated lithium resource. The high-grade lithium
results across seven holes at Alba Sabrina, as well as the very
high-grade lithium samples from Natalia Maria, demonstrate the
potential of the HMN Li Project. The Company is on track to achieve
its objective to potentially expand the current National Instrument
43-101 Lithium Carbonate Equivalent resource. Groundwater Insight
of Halifax, Nova Scotia, Canada is
providing the technical guidance for the 2022-23 exploration
program and will supervise the new updated lithium carbonate
equivalent resource estimate.
About Lithium South
Lithium South ( LIS ) owns 100% of the Hombre Muerto North
Lithium Project ( HMN Li Project )
located in Salta Province,
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 just south of the HMN Li Project. The HMN Li Project is
surrounded by a $ U.S. 4 billion lithium development underway by
POSCO ( Korea ) and the Sal de Vida Project under development by
Allkem. LIS has delineated a NI 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 have
identified additional lithium zones that will allow a new and
potentially larger LCE resource to be defined. LIS 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 Dr. Mark
King, a Qualified Person for the purposes of National
Instrument 43-101. Dr. King participated in the preparation of this
news release.
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.
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
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SOURCE Lithium South Development Corporation