VANCOUVER, BC, Feb. 21,
2023 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt: OGPQ) is pleased to provide further drill results from
the Alba Sabrina resource expansion drill program at the HMN Li
Project, Salta, Argentina. Samples
were taken using best industry practices and assays were performed
by Alex Stewart Laboratories (ISO Certified) of Mendoza,
Argentina. Excellent lithium
values have been received from all holes completed to date and are
reported below.
Hole AS03 was drilled to 260 meters. The average of
depth-discrete packer samples is 663 mg/L Li, with a range of 320
to 752 mg/L Li. It was determined upon completion that the last
sample taken at 260 meters (320 mg/L Li) was likely diluted by
inflow from a shallow aquifer, due to a leak in the packer
system.
After drilling and packer sampling, the borehole was completed
as a long-screen monitor well. It was then developed to remove
drilling mud and any fluids that entered during packer sampling. A
sample taken from the long-screen well returned a value of 757 mg/L
Li.
Hole AS05 was drilled to 220 meters. The average of the packer
samples is 705 mg/L Li, with a range of 434 to 792 mg/L Li. The low
concentration (434 mg/L) was measured in the shallowest sample
(<50 m depth).
Hole AS06 was drilled to 180 meters. The average of the packer
samples is 644 mg/L Li, with a range from 525 to 710 mg/L Li.
Drilling to date has delineated a brine-containing sub-basin
approximately 1.2 kilometers wide by 7.6 kilometers in length,
extending northward from the main basin of Hombre Muerto Salar. The
drill plan included a line of four core holes north to south along
the axis of the sub-basin, and three control holes along the west
side of the sub-basin. The purpose of the control holes is to
define the west side of the sub-basin and to determine if the
western boundary was affected by freshwater inputs. All holes have
encountered significant thicknesses of brine.
Hole AS07 (also a western boundary borehole) is in progress.
When ASO7 is complete, the Company will publish an updated drill
plan and results. The rig will then move to the Natalia Maria claim
block located east of the current location. A road and drill pad
have already been constructed.
An updated resource will be calculated when the Natalia Maria
drill is completed and sampled.
Company President Adrian F.C.
Hobkirk is quoted, "We are very pleased with the exploration
results to date and look forward to the calculation of an upgraded
lithium resource at the HMN Li Project."
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
ahobkirk@lithiumsouth.com
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
