Subjects: SVY, FEA
Lithium South Development Corporation Resource Expansion Potential Confirmed With T.E.M. Study Results
VANCOUVER, BC, Oct. 4, 2021 /CNW/ -- Lithium South Development Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ) is pleased to announce the results of a Time Domain Electromagnetic (TEM) program at the Hombre Muerto North Lithium Project ( HMN Li Project ), Salta Province, Argentina. The 3,287 hectare project is comprised of six non-contiguous claim blocks. Tramo ( 383 hectares ) , Alba Sabrina (2,089 hectares ), Natalia Maria ( 115 hectares ), Gaston Enrique ( 55 hectares ) , Norma Edith and Via Monte ( 595 hectares ) . The 383 hectare Tramo Claim Block is the most advanced and is the subject of both a resource calculation and Preliminary Economic Assessment. The balance of the property package has not been significantly evaluated to date.
Quantec Geoscience Argentina S.A. conducted the T.E.M. program, completing at total of 133 stations and surveying all remaining areas contained in the project package. Results as interpreted indicate significant potential to expand the known resource.
- The 2,089 hectare Alba Sabrina claim block is the largest block in the package. T.E.M. results as interpreted indicate a surficial halite aquifer of approximately 75 meters depth, with a clastic brine aquifer immediately below The target zone is interpreted to be from near surface to depth, though basement rock was not encountered in this survey.
- Natalia Maria 115 hectares / T.E.M. results indicate a porous aquifer towards the west of the property, reaching 100 meters of depth. Basement rock may have been encountered towards the east but may also represent a halite zone, without the basement being identified.
- Via Monte and Norma Edith 595 hectares / interpretation of sections indicates a porous aquifer towards the west of the property, reaching a thickness of approximately 200 meters. The basin appears to be deepening towards the west, where the claim block is adjacent to property held by Livent.
- Gaston Enrique 55 hectares / T.E.M. interpretation indicates halite with some lenses of a potentially more porous aquifer. The brine target is interpreted to be at least to 300 meters, though the basement was not identified in this section.
Results of the T.E.M. survey have identified drill targets in all of the claim blocks comprising the HMN Li Project. All 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.
Company President Adrian F.C. Hobkirk is quoted: "We are very pleased with the results of the T.E.M. survey. in particular, for the Alba Sabrina claim block, the largest in the package, which we thought had limited potential. We look forward to the next phase of resource development at this high-quality lithium brine project."
The Company is now processing the results into a future drill plan. Management believe there is the potential to significantly expand the current measured and indicated lithium carbonate equivalent resource ( see News Release October 3, 2018 ). The project has a completed Preliminary Economic Assessment which was based upon a 5,000 tonne per year operation. Pending drill confirmation and resource expansion, the project size will potentially expand significantly.
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 qeophysical 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 and approved by Marcela Casini, advisor to 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. We seek safe harbor.
SOURCE Lithium South Development Corporation
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