Lithium South Announces Cooperative Development Agreement with POSCO Argentina SAU on HMN Li Project
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Spanning 3,287 hectares, the HMN Li Project is comprised of five key claim blocks: Alba Sabrina (2089 hectares), Natalia Maria (115 hectares), Viamonte/Norma Edith (595 contiguous hectares), Gaston Enrique (55 hectares), and Tramo (383 hectares).
The Viamonte and Norma Edith contiguous claim blocks are located in an area of dual jurisdiction whereby both POSCO (Catamarca Province) and Lithium South (Salta Province) hold claims to the same ground but in different provinces. Preliminary data suggest that the Norma Edith and Viamonte area holds significant potential to bolster the scope of the HMN Li Project.
In the spirit of finding a solution, to enable both companies to access the potential brine in this area, and to avoid a lengthy, costly, and uncertain legal undertaking, Lithium South and POSCO have agreed to collectively develop the Norma Edith and Viamonte claim blocks and share the brine produced on a 50/50 basis. This agreement represents a pivotal solution to the historical provincial title issue, showcasing a spirit of partnership and pragmatism. The agreement will be subject to other legal undertakings and regulatory approvals as required.
Company President and CEO, Adrian F. C. Hobkirk is quoted, "We are immensely pleased to join forces with POSCO, a leader in lithium and steel production. This partnership is a step forward for both companies. Together, we're paving the way for rapid advancement in lithium extraction and sustainable energy solutions."
Further details are available at the Company website at www.lithiumsouth.com.
About POSCO
POSCO, formerly Pohang Iron and Steel Company, is a South Korean steel-making company headquartered in Pohang,
About Lithium South
Lithium South (LIS) owns
Mr. William Feyerabend, CPG, 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.
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SOURCE Lithium South Development Corporation
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