Lithium South Drills 1176 mg/L Lithium at Natalia Maria Claim Block

Rhea-AI Summary

Lithium South Development Corporation (LISMF) has reported significant lithium findings at the Natalia Maria claim block within the Hombre Muerto North Lithium Project, Argentina. Exploration corehole NM01 yielded an average lithium grade of 1176 mg/L with a low magnesium to lithium ratio of 2.66. Results from seven holes across the Alba Sabrina and Natalia Maria blocks indicate strong potential for enhancing the existing lithium resource. The company is conducting hydraulic testing to evaluate area permeability and future well flow. Groundwater Insight will guide the resource estimation process, as Lithium South moves towards becoming a lithium developer. The Hombre Muerto region has over 25 years of lithium production history, underscoring the project's strategic position.

Positive

• High average lithium grade of 1176 mg/L in exploration corehole NM01.
• Low magnesium to lithium ratio of 2.66 indicates favorable conditions.
• Potential to expand the current lithium resource due to strong results from multiple holes.
• Expert guidance from Groundwater Insight for resource estimation.
• Strategically positioned in a historically productive lithium region.

Negative

• None.

VANCOUVER, BC, April 6, 2023 /PRNewswire/ -- Lithium South Development Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ). Lithium South Development is pleased to announce outstanding results from the Natalia Maria claim block at the Hombre Muerto North (HMN) Lithium Project, located in Salta Province, Argentina. High-grade lithium results have been encountered in exploration corehole NM01. Brine samples collected from NM01 have an average lithium grade of 1176 mg/L Li and a low magnesium to lithium ratio of 2.66. Full results are summarized in Table 1.

Hole NM01 Sample ID	Depth from [m]	Depth to [m]	Cond. [mS/cm]	Dens. [g/ml]	Li [mg/l]	Mg [mg/l]	Mg/Li Ratio
HMN 174	24	25	202.6	1.217	1246	3346	2.69
HMN 185	45	46	230.1	1.215	1139	3086	2.71
HMN 176	56	57	196.3	1.218	1230	3274	2.66
HMN 177	80	81	196.3	1.218	1190	3192	2.68
HMN 180	110	111	209.5	1.218	1176	3147	2.68
HMN 179	120	121	208.9	1.218	1221	3131	2.56
HMN 181	140	141	208.2	1.218	1194	3071	2.57
HMN 183	161	162	203.1	1.216	1115	3038	2.72
HMN 184	188	189	206.2	1.215	1071	2844	2.66

Table 1: Lithium and magnesium results for the brine samples collected from exploration hole NM01 at the Natalia Maria claim block.

 

One additional shallow monitoring well was completed at Natalia Maria adjacent to the deep monitoring well in the original corehole. These monitoring wells will be used to carry out hydraulic testing ("slug testing") on NM01, to provide preliminary insight into the permeability of the area and help estimate the future well flow.

With the compilation of final results from the drill program, the Company looks forward to the full program results and to the delineation of an updated lithium resource. The high-grade lithium results across seven holes at Alba Sabrina, as well as the very high-grade lithium samples from Natalia Maria, demonstrate the potential of the HMN Li Project. The Company is on track to achieve its objective to potentially expand the current National Instrument 43-101 Lithium Carbonate Equivalent resource. Groundwater Insight of Halifax, Nova Scotia, Canada is providing the technical guidance for the 2022-23 exploration program and will supervise the new updated lithium carbonate equivalent resource estimate.

About Lithium South

Lithium South ( LIS ) owns 100% of the Hombre Muerto North Lithium Project ( HMN Li Project ) located in Salta Province, 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 just south of the HMN Li Project. The HMN Li Project is surrounded by a $ U.S. 4 billion lithium development underway by POSCO ( Korea ) and the Sal de Vida Project under development by Allkem. LIS has delineated a NI 43-101 Lithium Carbonate Equivalent ( LCE ) resource on the Tramo claim block, one of five non-contiguous blocks that make up the HMN Li Project. Recent drilling on the Alba Sabrina and Natalia Maria claim blocks have identified additional lithium zones that will allow a new and potentially larger LCE resource to be defined. LIS is now transitioning from being a lithium explorer to becoming a lithium developer.

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.

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.

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

 

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SOURCE Lithium South Development Corporation

FAQ

What lithium grade was reported by Lithium South Development Corporation at the Natalia Maria claim block?

Lithium South reported an average lithium grade of 1176 mg/L at the Natalia Maria claim block.

What is the magnesium to lithium ratio from the brine samples collected from NM01?

The magnesium to lithium ratio from the brine samples collected from NM01 is 2.66.

What are the implications of the recent exploration results for LISMF investors?

The exploration results suggest significant potential for expanding the lithium resource, which may positively impact LISMF's valuation.

Which firm is providing technical guidance for the lithium resource estimation for Lithium South?

Groundwater Insight of Halifax, Nova Scotia, Canada is providing technical guidance for the resource estimation.

What potential development phase is Lithium South transitioning into?

Lithium South is transitioning from a lithium explorer to a lithium developer.