VANCOUVER, BC, Aug. 5, 2021 /CNW/ -- Lithium South
Development Corporation (the "Company") (TSX-V: LIS)
(OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to announce the
engagement of Quantec Geoscience Argentina S.A., for the completion
of a Time Domain Electromagnetic (TEM) program at the Hombre Muerto
North Lithium Project, Salta
Province, Argentina. Work
to date has identified a measured and indicated lithium resource at
the Tramo claim block, one of six areas contained in the project
package. This program will cover the Alba Sabrina, Natalia Maria, Gaston
Enrique, Norma Edit and Via Monte claim blocks, which have
not been evaluated to date. The claim blocks are located
adjacent to property under development or currently in lithium
production. The northern claim groups border ground owned by POSCO
(Korea), where a lithium mine is being constructed. The southern
group adjoin ground owned by Livent, which is currently producing
lithium from the area.
The TEM program is designed to provide hole location guidance
for a planned 2,000-meter drill program, the intent of which is to
expand the total project lithium resource, which is currently based
only on the Tramo claim block. The TEM program will consist of 168
survey stations and will provide reliable and accurate survey data
to compliment additional area information. The program is
anticipated to take three weeks to complete.
The program is part of the Company development strategy for the
Hombre Muerto North Lithium Project. Management is taking a
fast-track approach to moving the project to a full feasibility
study, with an Environmental Impact Report currently underway.
Permissions to drill have been applied for and are expected in the
immediate future. In addition, the Company is evaluating three
types of Direct Lithium Extraction Technology (DLE) along with
conventional evaporation extraction.
About Quantec Geoscience Argentina S.A.
Quantec Geoscience is a recognized leader in the industry, with
experience spanning over 40 countries with over 5,000 geophysical
projects. Quantec has considerable experience in the provision of
geophysical services for the evaluation of salars in the Puna
Region of Argentina.
About Lithium South
Lithium South is focused on
developing the Hombre Muerto North Lithium Project (HMN Li
Project), located on the Hombre Muerto Salar, a major
lithium-producing salar in Argentina. The property is adjacent
to land under development by the Korean multinational corporation
POSCO, which acquired the ground from Galaxy Resources Ltd. for US
$280 million. The Company
completed a Preliminary Economic Assessment of the HMN Li Project
in 2019, utilizing conventional evaporation extraction. The
Company is focused on evaluating alternative extraction methods for
the HMN Li Project and plans to become a leader in the application
of Direct Lithium Extraction technology at the project level.
This news release has been reviewed by Marcela Casini, advisor of the Company and a
Qualified Person as that term is defined in National Instrument
43-101.
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
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. There can be
no guarantee that the transaction being contemplated, the sale of
the HMN Lithium Project, will complete as announced or at all. 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