VANCOUVER, BC, March 23,
2023 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt OGPQ). Lithium South Development is pleased to
announce the completion of AS07, the seventh exploration hole at
the Alba Sabrina claim block, where the company has made a
significant lithium discovery. With a depth of 152 meters,
AS07 confirms the presence of brine. One double packer sample
has been forwarded to Alex Stewart Laboratories of Mendoza,
Argentina (ISO Certified) for
evaluation. Drilling is now underway at the Natalia Maria
claim block, with a current drill depth of 375 meters.
Drilling to date has delineated a brine-containing sub-basin
approximately 1.2 kilometers wide by 7.6 kilometers in length,
extending northward from the main basin of Hombre Muerto Salar.
The drill plan included a line of four core holes north to
south along the axis of the sub-basin, and three control holes
along the west side of the sub-basin. The purpose of the
control holes was to define the west side of the sub-basin and to
determine if the western boundary was affected by freshwater
inputs. All holes at Alba Sabrina have encountered
significant thicknesses of brine.
Following the completion of the last borehole on the Alba
Sabrina claim, the drill rig moved east to the Natalia Maria
property where drilling is underway at exploration hole NM01.
Drilling at NM01 has intersected brine-bearing interbedded
sediments and fractured halite from surface to the current depth of
375 meters. Nine packer samples have been collected between
24 and 189 meters, with a density range of 1.215 to 1.218 g/mL and
a conductivity range of 196.3 to 209.5 mS/cm. Samples will be
sent to Alex Stewart Laboratories for analysis, drilling and
sampling continue.
When the Natalia Maria borehole is complete, an updated resource
estimate will be prepared by Groundwater Insight of Halifax, Canada.
"The successful drilling program at Alba Sabrina and the ongoing
progress at Natalia Maria demonstrate our team's ability to
identify highly prospective areas for lithium brine exploration and
our commitment to delivering long-term shareholder value," said Mr.
Fernando Villarroel, COO of Lithium
South Development. "We are excited to move forward with the updated
resource estimation and continue to explore and develop the Hombre
Muerto North Lithium Project."
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 a US
$4 billion lithium project
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 technical and scientific information in this press
release was reviewed and approved by Dr. Mark King, a Qualified Person for the purposes
of 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.
Photo:
https://mma.prnewswire.com/media/2038562/Lithium_South_Drill_Map.jpg
Logo:
https://mma.prnewswire.com/media/1815015/Lithium_South_Development_Corporation_Logo_Logo.jpg
View original content to download
multimedia:https://www.prnewswire.com/news-releases/lithium-south-completes-alba-sabrina-claim-block-drilling-deep-hole-underway-at-natalia-maria-claim-block-301779054.html
SOURCE Lithium South Development Corporation
