Deep Hole Underway at Natalia Maria Claim Block
Vancouver, BC – March 23, 2023 – Lithium South Development Corporation (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ) (the “Company”) 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.
Lithium South Drill Map – drill targets for resource expansion on Alba Sabrina claim block.
“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.
SOURCE: Lithium South Development Corporation
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