VANCOUVER, BC, Sept. 14, 2023 /PRNewswire/ -- Lithium South Development Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to announce the initiation of a pumping/production well drilling campaign at the 5-claim block Hombre Muerto North Lithium Project (HMN Li Project) Salta, Argentina.
This Phase One program will include the drilling of three wells: two at Alba Sabrina (AS-WW-01-23 and AS-WW-02-23) and one at Natalia Maria (NM-WW-01-23). Notably, each well will be fitted with screen filters and blind casing. Upon completion, long-term pumping tests will be conducted to determine brine transmissivity, including the maximum flow of each well. The results will provide key information for the upcoming Feasibility Study.
The first well, NM-WW-01-23, located at the Natalia Maria claim block, is currently being drilled to a depth of 200m. Early results from core drilling are promising, with a lithium concentration exceeding 1,175 milligrams per liter (as announced on April 6, 2023).
Following the completion of the Natalia Maria well, the team will begin drilling two wells at the Alba Sabrina block, with depths of 400m and 200m, respectively. The Alba Sabrina claim block is the largest in the HMN Li Project claim group, encompassing 2,089 hectares of the total 3,287-hectare salar footprint. The upgraded project resource (September 12, 2023) delineates a resource of 927,500 tonnes of Lithium Carbonate Equivalent (LCE) within this block.
In addition to the above, Lithium South Development is reviewing technical data associated with the southern Viamonte and Norma Edit claim blocks. These blocks are being evaluated for potential production well installation during this drilling campaign.
Advertising Program
To assist in distributing the Company message, Batteryjuniors.com, an advertising and marketing company based in Sweden, have been retained to develop a advertising program world wide with special focus on the United States and Canada. Total cost for the six month program is 100,800 Euros and is expected to begin immediately.
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 Hombre Muerto Salar 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. LIS has delineated a NI 43-101 compliant 1,583,100 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. LIS is now transitioning from being a lithium explorer to becoming a lithium developer.
Mr. William Feyerabend, a Consulting Geologist and Qualified Person under NI 43-101 contributed to the production of this press release and approves of the technical and scientific information contained herein.
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.
View original content:https://www.prnewswire.co.uk/news-releases/pumpingproduction-well-installation-begins-at-hmn-li-project-301928108.html
Voltar noticias em Inglês