April 27, 2021 / Vancouver, BC / Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ) is pleased announce it is moving ahead with plans to potentially expand the current lithium resource at the Hombre Muerto North Lithium Project (HMN Li Project), located in Salta Province, Argentina. The 3,287-hectare project is comprised of five separate areas located in the northern portion of the salar. The resource was detailed in a National Instrument 43-101 compliant report filed December 4th, 2018 titled, Initial Measured Lithium and Potassium Resource Estimate Hombre Muerto North Project, Salta and Catamarca Provinces, Argentina, authored by independent consultants Montgomery and Associates, is summarized below:
After technical review, management believes the current identified resource has excellent potential to be expanded. To accomplish this, the Gaston Enrique, Natalia Maria and Alba Sabrina claims will be sited for drill programs. The Company has located a service provider who has a drill rig located on the salar near the Alba Sabrina claim block and is negotiating a drill contract. The Gaston Enrique claim block is located on the Catamarca side of the Hombre Muerto salar, and is the oldest claim located within the dual jurisdiction area. Management believes an Environmental Impact Report and drill permits can be obtained for this project area, which is located approximately 100 meters north of a drill hole recently completed by POSCO. A recent corporate video of the HMN Li Project can be viewed at the Company website at www.lithiumsouth.com
The project area under purchase option to the Company is situated contiguous to significant lithium development. Korean giant POSCO are moving ahead with plans to construct a 25,000 tonne per year conventional lithium extraction operation contiguous to the Company area. The recently announced 4-billion-dollar merger between Galaxy Resources and Orocobre will likely see further development of the Galaxy owned portion further to the south.
About Lithium South
Lithium South is focused on developing the HMN Li Project, located on the Hombre Muerto Salar, the major lithium-producing salar in Argentina. The property is adjacent to land under development by the Korean multinational corporation POSCO, which acquired the ground from Galaxy Resources Ltd. for US $280 million. The Company completed a Preliminary Economic Assessment of the HMN Li Project in 2019, utilizing conventional evaporation extraction. The Company is focused on evaluating alternative extraction methods for the HMN Li Project and plans to become a leader in the application of Direct Lithium Extraction technology at the project level.
The technical and scientific information contained in this news release was reviewed by Mr. William Feyerabend, a Consulting Geologist and Qualified Person under NI 43-101. Mr. Feyerabend participated in the production of this news release.
On behalf of the board of directors of Lithium South Development Corporation
Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100 / website: www.lithiumsouth.com
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The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
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