VANCOUVER, BC, Aug. 8, 2024
/CNW/ -- Lithium South Development Corporation (the
"Company" or "Lithium South") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt: OGPQ) is pleased to provide an update regarding test
work, on site development work, and business developments.
Lithium Iron Phosphate Test Work
The Company is pleased to report the laboratory scale production
of Lithium Iron Phosphate (LiFePO₄) directly from concentrated
brine obtained from its Hombre Muerto North Lithium Project (HMN Li
Project), located in Salta Province,
Argentina. Test work was
undertaken in cooperation with an independent laboratory based in
(note 1). Salta, Argentina.
The product was then forwarded to the Research and Development
Center for Advanced Materials and Energy Storage (CIDMEJu), located
in Jujuy province, Argentina. At
this facility, a basic operating button type battery was
constructed using the HMN Li Project LiFePO4 product. This
facility is part of the CONICET / National Scientific and
Technical Research Council, an Argentine government agency which
directs and co-ordinates most of the technical and scientific
research done in Argentine universities and institutes.
The laboratory (patent pending) process resulted in a LiFePO4
product directly from lithium chloride, eliminating the need for
lithium carbonate. LiFePO4 batteries (LFP) are being
utilized by Tesla, BYD and others due to their lower manufacturing
costs, long cycle life and high-power density. LFP batteries
are cobalt free and are finding increased demand in utility scale
stationary applications in addition to the Electric Vehicle
market. LFP demand is expected to rise considerably over the
coming years
The LiFePO4 battery test work is important to Lithium South as
it is helping to define potential options for the production of
higher priced value-added lithium products. Evaporation test work
is also continuing at the HMN Li Project site as part of the
process validation for a planned Feasibility Study.
HMN Li Project Site
At the HMN Li Project Alba Sabrina claim block, a second phase
pump test is being planned for well PW23-AS-02, a 400-meter-deep
production well. With recent test work indicating a good pumping
rate from a single pump, it has been determined that two pumps down
the same hole will be necessary to provide additional brine lift
and to fully evaluate the wells pumping capacity. The Company is in
the process of acquiring two new pumps and support equipment to
continue the test work. In addition, the Company plans to conduct
new pumping tests on the Tramo and Natalia Maria claim blocks.
Business Discussions
Management is in ongoing discussions with several automotive and
lithium industry corporations regarding potential strategic
alliances or business arrangements. In spite of a challenging
market environment, project interest remains high. These
discussions include a bulk sample site visit planned for one
interested party in September. Management remains on a trading
blackout.
Mr. William Feyerabend, CPG, a
Consulting Geologist and Qualified Person under NI 43-101,
participated in the production of this news release and approves of
the scientific and technical disclosure.
About Lithium South
Lithium South owns 100% of the HMN Li 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 (as a result of the Alkem and
Livent merger) in operation for over twenty-five years, in an area
just south of the HMN Li Project. The HMN Li 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 NI 43-101 compliant 1,583,200 tonne Lithium Carbonate
Equivalent ("LCE") Resource (See Note 2 below) on the Alba Sabrina,
Natalia Maria, and Tramo claim
blocks, three of five non-contiguous blocks that make up the HMN Li
Project. A recent Preliminary Economic Assessment published
April 30, 2024, delineates potential
to develop a 15,600 tonne per year lithium carbonate project. With
pumping well installation and test work 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 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.
Note 1: The Salta based laboratory is a non-arm's length party
controlled by a director of the Company.
Note 2: A report titled Updated Mineral Resource Estimate –
Hombre Muerto North Project, NI 43-101 Technical Report Catamarca
and Salta, Argentina,
Mark King, PhD, PGeo, Peter Ehren, M.Sc, MAusIMM, September 5th, 2023.
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