Lithium South Development Corporation: Additional 2,400 Hectares Acquired at Hombre Muerto

Rhea-AI Summary

Lithium South Development Corporation announces the acquisition of 2,400 hectares near the Hombre Muerto North Lithium Project in Salta Province, Argentina. This strategic addition includes the Sophia I, II, and III claim blocks, located 5 kilometers from the Alba Sabrina claim. The acquisition is expected to provide a potential water source and site for future processing facilities, reducing reliance on existing salar locations. The project is adjacent to land under development by POSCO, which acquired land for $280 million.

Positive

• Acquisition of 2,400 hectares enhances project resource potential.
• Provides future water sources and processing site, minimizing current salar dependency.
• Adjacent to POSCO development, potentially increasing strategic value.

Negative

• None.

VANCOUVER, BC, Jan. 13, 2022 /PRNewswire/ -- Lithium South Development Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased announce it has acquired key ground situated near the Hombre Muerto North Lithium Project located in Salta Province, Argentina, on one of the world's premium salars.

The Sophia I, II and III non-contiguous claim blocks are located approximately 5 kilometers north of the Alba Sabrina claim, and total 2,400 hectares.  The areas will provide a potential water source and a location for anticipated future plant and processing facilities.  This will eliminate the need for the Company to locate any future development on current salar locations. 

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 land under 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 Company is evaluating conventional evaporation as a process method, and Direct Lithium Extraction (DLE) as an alternative method.   In addition, the Company is planning to potentially expand the known resource by drilling various areas of interest identified in a recent TEM survey.  The Company is awaiting approval of drill permits currently under review by the Mining Secretariat in Salta, Argentina.

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.

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SOURCE Lithium South Development Corporation

FAQ

What is the significance of Lithium South's recent acquisition of 2,400 hectares?

The acquisition enhances resource potential and provides essential infrastructure for future development.

Where is the new acquisition located?

The newly acquired land is near the Hombre Muerto North Lithium Project in Salta Province, Argentina.

How does this acquisition affect Lithium South's operations?

It may streamline operations by providing water resources and processing locations, reducing reliance on current salar sites.

What is the expected impact of the acquisition on Lithium South's growth?

The strategic acquisition could facilitate expansion, potentially increasing lithium production capacity.

What is the stock symbol for Lithium South Development Corporation?

The stock symbols are LIS on TSX-V and LISMF on OTCQB.