VANCOUVER, B.C., March 14,
2024 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt: OGPQ) Lithium South Development is pleased to announce
the completion of the first pumping well at the 2,089-hectare Alba
Sabrina claim block located in Salta
Province, Argentina.
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 has encountered sand layers as the
dominant texture throughout. PW23 AS-02 has been piped and
graveled in preparation for long term pumping tests, with a screen
length of 207 meters.
State-of-the-art down the hole geophysics has been completed by
Zelandez (Salta, Argentina), a
provider of specialized lithium brine technology. A profile of the
well was completed and provides valuable insight into the hole
potential. Test work completed by Zelandez includes the measurement
of conductivity and temperature of well fluid, well caliber
measurement, resistivity measurement, radioactivity measurement,
ultrasonic wave measurement and nuclear magnetic resonance of
sediment rock/fluid.
Based on this test work, total porosity averaged 21% ranging
from 1% to 45%. The Specific Yield throughout the profile
averaged 7%, with maximum values of up to 33%. Based on this
information, the technical team plans to install a high-capacity
pump capable of extracting brine at a rate of between 40 and 50
liters per second. Hole PW23-AS02 is in a key location and could
provide substantial brine for production throughput.
"We are excited to announce the successful drill completion of
pumping well PW23-AS-02 to 400 meters of depth," states
Adrian Hobkirk, CEO at Lithium South
Development. "The geophysical profile conducted by Zelandez
confirms the exceptional qualities of this hole location. Once the
high-capacity pump test is complete, the Company is poised to
capitalize on the potential of this claim block."
The technical and scientific information in this press release
was reviewed and approved by Mr. William
Feyerabend, CPG, a consulting geologist, and a Qualified
Person under National Instrument 43-101, who also participated in
its production.
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. 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
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. It, 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 when the statements are made and are subject to various
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.
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SOURCE Lithium South Development Corporation