Highlights
- 175% Increase in Lithium Resource
- 1,583,200 Tonnes Lithium Carbonate Equivalent at 736 mg/L
Li
- 40% Projected Increase in Lithium Recovery to 70%
VANCOUVER, BC, Nov. 6, 2023
/CNW/ -- Lithium South Development Corporation (the
"Company") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased
to report it has issued and filed November
6, 2023, a technical 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.
The report was prepared in accordance with National Instrument
43-101 - Standards of Disclosure for Mineral Projects, on behalf of
the Company by independent consultants Groundwater Insight of
Halifax, Nova Scotia, Canada. The
report details the recently upgraded lithium resource located at
the Company's flagship project, the Hombre Muerto North
Lithium Project (HMN Li Project). The LCE Resource NI 43-101
Technical Report is available on the Company website at
www.lithiumsouth.com/wp-content/uploads/2023-technical-report-NI43-101.pdf.
The HMN Li Project is comprised of five salar located claims
totaling 3,287 hectares, and is located in the Salar del Hombre
Muerto of Salta Province,
Argentina. The report covers
the Alba Sabrina (2,089 hectares), Tramo (383 hectares), and
Natalia Maria (115 hectares) claim
blocks, within which a 1,583,200 tonne Lithium Carbonate Equivalent
Resource (LCE) with an average grade of 736 mg/L Li has been
defined. The Resource has a low magnesium (contaminant) to
lithium ratio of 3.27; and 90% of the Resource in the Measured
category (highest resource classification). Additional
resource potential remains to be evaluated at the Viamonte and
Norma Edith claim blocks (595 hectares).
The report also provides an evaluation of the updated lithium
recovery process plan for the HMN Li Project brines, which uses
industry proven evaporation. An adjustment in the processing
sequence will reduce lithium loss as brine entrainments in
harvested salts, in the magnesium hydroxide, and in calcium sulfate
solids. Results to date indicate that lithium recovery of around
70%, an improvement from previous recoveries of 50%, should be
achievable. Peter Ehren, M.Sc.,
MAusIMM, is the QP responsible for Mineral Processing.
Company President and CEO, Adrian F. C.
Hobkirk is quoted, "We are very pleased with the substantial
upgrade in our LCE Resource at the HMN Li Project and are excited
to potentially achieve much higher lithium recoveries. We await the
completion of our updated Preliminary Economic Assessment which
will further evaluate our newly defined, high quality lithium brine
resource."
Dr. Mark King, Ph.D., F.G.C.,
P.Geo., of Groundwater Insight, Inc., is the Qualified Person (QP)
for this work, as such term is defined by NI 43-101. Dr. King has
extensive experience in salar environments and has been a QP on
numerous lithium brine projects, ranging from early exploration to
production. Dr. King is independent from the Company and has
reviewed and approved the technical information mentioned in this
press release.
About Lithium South
Lithium South (LIS) owns 100% of the Hombre Muerto North Lithium
Project (HMN Li Project) located in Salta and Catamarca Provinces,
Argentina, the heart of the
lithium triangle. The Salar del Hombre Muerto has a history
of lithium production, with Livent Corporation 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 Allkem. Exploration work to date has delineated a
National Instrument 43-101 compliant 1,583,200 tonne Lithium
Carbonate Equivalent (LCE) Resource on the Alba Sabrina,
Natalia Maria, and Tramo claim
blocks, three of five non-contiguous blocks that make up the HMN Li
Project. With process work underway, LIS 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 1-855-415-8100 / 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 constitute 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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SOURCE Lithium South Development Corporation
