VANCOUVER, BC, Sept. 12,
2024 /CNW/ -- Lithium South Development
Corporation (the "Company" or "Lithium South") (TSX-V:
LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to announce the
successful completion of Phase I of the Environmental Baseline
Study for the Hombre Muerto North Lithium Project (HMN Li Project),
located in Salta Province,
Argentina. The report was
completed by Knight Piesold Consulting (Argentina), a global engineering firm. The
evaluation has taken 18 months and represents an important step for
moving the project towards development.
The report presents comprehensive data pertaining to hydrology,
hydrogeology, soil quality, flora and fauna, landscape and
socio-cultural impact. The report establishes an environmental
baseline from which the Company can further develop the project to
an anticipated production rate of 15,600 tonnes per year of lithium
carbonate using industry standard evaporation. This report will be
key to the completion of an Environmental Impact Report seeking
permissions to construct the mine.
The Company is now advancing with Phases II and III of the
Environmental Impact Assessment, which will focus on:
- Basic Engineering: The basic construction and waste
engineering, for the preparation of the environmental impact
assessment
- Detailed Environmental Impact Assessments: In-depth
analysis of potential environmental impacts due to the construction
and operation of the production facility, particularly focusing on
the construction of evaporation ponds.
- Mitigation Strategies: Development of comprehensive
plans to mitigate any identified environmental and social impacts,
including water management plans and habitat restoration
initiatives.
- Stakeholder Engagement: Continued engagement with local
communities and stakeholders to ensure transparency and address any
concerns
Company Founder, President, and Chief Executive Officer,
Adrian F. C. Hobkirk comments, "We
are now arriving at an important milestone for the HMN Li Project,
the filing for construction permissions. The Company is moving this
process ahead in conjunction with completing a Definitive Economic
Assessment. During this process, the project may be further
enhanced in throughput size, exceeding the 15,600 tonnes per year
recently published in our Preliminary Economic Assessment. We
look forward to completing the required engineering and well
drilling on a fast -track basis."
Social Responsibility
The company as part of his social responsibility program is
donating 5 Tn of NaCl (salt) to the community of Pastos Grandes.
The NaCl was sourced from HMN Li Project evaporation ponds
currently in operation.
2023 AGM
The Annual General Meeting was held August 31, 2024. A new board was elected and is
comprised of Adrian F. C. Hobkirk,
Christopher P. Cherry, Alison Dai, Fernando
Villarroel and Gordon Neal.
All management proposals passed with the exception of the
re-pricing of certain stock options held by insiders.
Market Awareness Program
To enhance market awareness of Lithium South, the Company has
retained, for financial services, Emerging Growth, LLC of
Montana, U.S.A. d/b/a TDM
Financial and owned by Darren
Dayton. TDM will provide content development, distribution,
corporate video production and social media awareness. TDM
Financial holds now shares or financial instruments in the Company.
The Company has agreed to a four -month contract at U.S.
$10,000 per month subject to the
approval of the TSX Venture Exchange.
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 National Instrument 43-101 compliant 1,583,200 tonne
Lithium Carbonate Equivalent ("LCE") Resource (Note 1) 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
filed April 30, 2024 (Note 2)
delineates the exciting potential of a 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
Note 1: 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.
Note 2: The report titled, N.I. 43-101 Preliminary
Economic Assessment Hombre Muerto North Lithium Project, Salta,
Argentina, was
completed by Knight Piesold Consulting and JDS Energy and Mining
Inc., both industry leading independent engineering consulting
firms.
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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