August 05, 2021 / Vancouver, BC / Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ) is pleased to announce the engagement of Quantec Geoscience Argentina S.A., for the completion of a Time Domain Electromagnetic (TEM) program at the Hombre Muerto North Lithium Project, Salta Province, Argentina. Work to date has identified a measured and indicated lithium resource at the Tramo claim block, one of six areas contained in the project package. This program will cover the Alba Sabrina, Natalia Maria, Gaston Enrique, Norma Edit and Via Monte claim blocks, which have not been evaluated to date. The claim blocks are located adjacent to property under development or currently in lithium production. The northern claim groups border ground owned by POSCO (Korea), where a lithium mine is being constructed. The southern group adjoin ground owned by Livent, which is currently producing lithium from the area.
The TEM program is designed to provide hole location guidance for a planned 2,000-meter drill program, the intent of which is to expand the total project lithium resource, which is currently based only on the Tramo claim block. The TEM program will consist of 168 survey stations and will provide reliable and accurate survey data to compliment additional area information. The program is anticipated to take three weeks to complete.
The program is part of the Company development strategy for the Hombre Muerto North Lithium Project. Management is taking a fast-track approach to moving the project to a full feasibility study, with an Environmental Impact Report currently underway. Permissions to drill have been applied for and are expected in the immediate future. In addition, the Company is evaluating three types of Direct Lithium Extraction Technology (DLE) along with conventional evaporation extraction.
About Quantec Geoscience Argentina S.A.
Quantec Geoscience is a recognized leader in the industry, with experience spanning over 40 countries with over 5,000 geophysical projects. Quantec has considerable experience in the provision of geophysical services for the evaluation of salars in the Puna Region of Argentina.
About Lithium South
Lithium South is focused on developing the Hombre Muerto North Lithium Project (HMN Li Project), located on the Hombre Muerto Salar, a 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.
This news release has been reviewed by Marcela Casini, advisor of the Company and a Qualified Person as that term is defined in National Instrument 43-101.
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.
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. There can be no guarantee that the transaction being contemplated, the sale of the HMN Lithium Project, will complete as announced or at all. We seek safe harbor.