Highlights:
· Hole AS02 drilled to 410 meters
· Brine from 0 to 400 meters
· High-grade lithium results confirmed from first four
of six samples
VANCOUVER, BC, Feb. 14,
2023 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt: OGPQ) is pleased to provide results from the ongoing
drill campaign at the Hombre Muerto North Lithium Project (HMN Li
Project) in Salta Province,
Argentina.
The Company is reporting partial results from hole AS02, which
has been completed to a depth of 410 meters. Six packer
samples have been collected and four results received. Assay
work was completed by Alex Stewart Laboratories (an ISO Certified
Laboratory) of Mendoza, Argentina.
1. Sample AS02-143 was taken at 48 meters and returned 569
mg/L Lithium.
2. Sample AS02-142 was taken at 61 meters and returned 605
mg/L Lithium.
3. Sample AS02-146 was acquired at 85 meters and returned
637 mg/L Lithium.
4. Sample AS02-156 was acquired at 216 meters and returned
708 mg/L Lithium.
5. Samples acquired at 343 meters and 367 meters are
pending results.
Upon receipt of the entire sample string, a final average
lithium value will be calculated.
The hole has established a deep portion of the brine basin, much
deeper than previous drilling. The geology is comprised of
medium to fine sand from 0 to 131 meters, medium sand from 131 to
308 meters, and brecciated and fractured orthoquartzite from 308 to
405 meters. The entire zone from 0 to 405 meters contains brine.
After 405 meters, fresh orthoquartzite, or hydrogeological
basement, was encountered down to 410 where the hole was
terminated.
Photo
- https://mma.prnewswire.com/media/2001697/Lithium_South_Drill_Map.jpg
Company President and CEO Adrian F. C.
Hobkirk is quoted as saying, "Hole AS02 is the deepest hole
completed to date at the HMN Li Project and demonstrates the
potential to significantly expand the total resource for the
project. We are very pleased with the high lithium and low
magnesium values."
The last hole to be drilled at the Alba Sabrina Claim Block is
currently underway at location AS07. Results from other holes
completed to date are pending. Once drilling is completed on
the Alba Sabrina Claim Block, the rig will move to the Natalia
Maria Claim Block located to the east of Alba Sabrina and south-west of the Tramo claim
block which was drilled in 2018.
About Lithium South
The HMN Li Project is at an advanced stage of evaluation, with a
Preliminary Economic Assessment completed in April 2019.
Lithium South is the 100% owner of the HMN Li Project and expects
to expand the known resource with its current drill program.
Preliminary results support this expectation.
Additional project work including permitting, environmental
studies and process test work is ongoing.
The Hombre Muerto North Lithium Project is adjacent to a
US$4 billion lithium mine under
development by the Korean multinational corporation POSCO, which
acquired their holdings from Galaxy Resources Ltd. for US$280 million. Livent Corporation is
producing lithium to the south of the Hombre Muerto North Lithium
Project and has actively operated there for over twenty-five
years.
The technical and scientific information in this press
release was reviewed and approved by Dr. Mark King, a Qualified Person under National
Instrument 43-101. Dr. King participated in the preparation of this
news release.
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.
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100 / info@lithiumsouth.com
/ website: www.lithiumsouth.com
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SOURCE Lithium South Development Corporation