VANCOUVER, BC, Feb. 2, 2023
/CNW/ -- Lithium South Development Corporation (the
"Company") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased
to provide results from the ongoing drill campaign at the Hombre
Muerto North Lithium Project (HMN Li Project) in Salta Province, Argentina. The resource expansion drill
program is comprised of four core wells (Holes AS01, AS02, AS03 and
AS04) located north to south, and three monitor wells (Holes AS05,
AS06 and AS07) located west of the core wells (see enclosed drill
map). All seven drill holes are located on the Alba Sabrina claim
block.
The final core well AS02 has been completed to a depth of 410
meters. The hole has established a deep portion of the brine basin,
much deeper than previous drilling. The geology is comprised of
medium to fine sand from 0 to 131 meters, medium sand from 131 to
308 meters. After 308 meters, fractured ortho-quartz was
encountered down to 410 meters where the hole is terminated. The
rig will now move to drill the final hole, AS07. A final core hole
will be completed on the Natalia Maria claim block upon completion
of drilling at the Alba Sabrina claim block.
Brine samples using a double packer system have been obtained at
62, 84, 128, 217, 341 and 368 meters. All samples were collected
using industry best practices and have been forwarded to
Alex Stewart laboratories of
Mendoza, Argentina for
analysis.
Company President and Chief Executive Officer Adrian F. C. Hobkirk is quoted, "We are very
excited to complete a hole to such significant depth at the Alba
Sabrina claim block. We look forward to concluding the drill
program and completing an updated resource study."
About Lithium South
The HMN Li Project is at an advanced stage of evaluation, with a
Preliminary Economic Assessment completed in April 2019. Lithium South is the 100% owner of
the HMN Li Project and expects to expand the known resource with
its current drill program. Preliminary results support this
expectation. Additional project work including permitting,
environmental studies and process test work is ongoing.
The Hombre Muerto North Lithium Project is adjacent to a
US$4 billion lithium mine under
development by the Korean multinational corporation POSCO, which
acquired their holdings from Galaxy Resources Ltd. for US$280 million. Livent Corporation is producing
lithium to the south of the Hombre Muerto North Lithium
Project and has actively operated there for over twenty-five
years.
The technical and scientific information in this press
release was reviewed and approved by Dr. Mark King, a Qualified Person under National
Instrument 43-101. Dr. King participated in the preparation of this
news release.
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. We seek
safe harbor.
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SOURCE Lithium South Development Corporation
