VANCOUVER, BC, June 15,
2023 /CNW/ -- Lithium South Development
Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF)
(Frankfurt: OGPQ) is providing an update on the recently
completed exploration program and status of the updated Mineral
Resource Estimate that is currently underway for the Hombre Muerto
North Lithium Project (HMN Li Project) in Salta Province, Argentina. All core samples have been
submitted to GeoSystems Analysis Inc. (GSA), in Tucson, Arizona for porosity analysis. Initial
results have been received and all remaining results are
anticipated by mid-July. Shortly thereafter, the resource update
process will be completed by the brine resource specialist team of
Groundwater Insight, Inc. (Halifax
Canada), and Aqua Insight Inc., led by Qualified Person, Dr.
Mark King.
Work by GSA will determine the bulk density, total porosity, and
specific yield (or drainable porosity) of each sample. Specific
yield is the ratio of the volume of water a rock or soil will yield
by gravity drainage to the bulk volume of the rock or soil. This
value is used as a fractional multiplier, to estimate the volume of
brine that could potentially drain from a geologic material. In
other words, specific yield data for each lithological unit is one
of the key parameters (along with lithium grade) used to estimate
lithium brine resources.
Initial results from 18 core samples indicate that the brine
within the Alba Sabrina units is potentially drainable, with
specific yields ranging from 8.9% to 38.6%. This first set of
samples represents partial results for the upper and lower
sedimentary units, and one result for the brecciated
quartzite. Similar specific yield results are expected from the
remaining Alba Sabrina and Natalia Maria samples based on
lithological observations.
In comparison, Tramo specific yield results previously reported
in the 2018 Mineral Resource Estimate (September 7, 2018) ranged from 2.6% to 24.6%.
Average specific yield based on a limited re-interpretation
of Tramo lithologies (as part of the development of a
basin-wide geological model) is as follows:
- Interlayered clastic sediments: 9.0%
- Interbedded halite and sediments: 10.0%
- Conglomerate: 8.7%
Results for 62 core samples from the recent exploration program
are still outstanding. It is anticipated that disaggregated
results will require adjustment, and that some samples may not be
testable, due to the unconsolidated nature of the material. Results
will be reviewed in parallel with lithological observations and
photographs and anomalously high specific yield results related to
unconsolidated samples may be adjusted to account for handling of
loose materials.
Groundwater Insight Inc. is currently preparing the updated
Mineral Resource Estimate for the Alba Sabrina, Natalia Maria, and
Tramo properties. The geological model is complete and analytical
results from GSA are the last piece of information required to
finalize the Resource Estimate.
Geological Setting
Recently completed drilling on the Alba Sabrina and Natalia
Maria properties intersected diverse lithological units in each
project area, highlighting the regional variability of salar
deposits within Salar del Hombre Muerto. The geology on each
property is distinct, and also distinct from the Tramo
property, which was the focus of the 2018 maiden Resource
Estimate.
Alba Sabrina encompasses a channel in the northwest sector of
Salar del Hombre Muerto, formed by the Tincalayu Peninsula. This
semi-isolated salar channel is clastic-dominated, with no
halite intersected by drilling. In this channel, the bottom of
the salar basin is demarcated by unaltered, low permeability
quartzite. This unit is overlain by up to 150 m of altered,
fractured to brecciated quartzite with high secondary porosity.
The overlying clastic salar units range from coarse grained
sands to interlayered clays. These units range from unconsolidated
to compact and consolidated. A basalt layer separates the upper and
lower sedimentary packages on the eastern side of Alba Sabrina
and extends into the central part of the channel. The basalt is
characterized by multiple flows with highly
vesicular, amygdaloidal, and massive horizons and minor to
pervasive fracturing. It is considered to correlate with basalts on
the adjacent Tincalayu Peninsula, but has undergone downward
displacement, followed by deposition of overlying salar
materials.
The Natalia Maria property represents a halite-dominated area of
Salar del Hombre Muerto, on the eastern margin of Tincalayu
Peninsula. Lithology intersected during drilling includes an upper
50 m package of interlayered
sediments that correlate to the shallow sedimentary deposits
observed at Alba Sabrina and Tramo. A crystalline halite with
occasional sandy halite or medium to coarse grained sand layers
occurs below 50 m and grades to massive halite at
approximately 200 m. This unit was
not encountered at the Tramo property further to the east, and
its full extent is not known.
Tramo is in the clastic-dominated northeastern zone of the Salar
del Hombre Muerto. Tramo lithology is a combination of the other
Project areas with an upper interlayered clastic sediment unit and
an interbedded halite and sediment sequence. The eastern half of
the property also hosts a lower polymictic conglomerate.
Additional third-party drilling results were also used to inform
the geological model developed for the salar basin.
About Lithium South
Lithium South is focused on developing the Hombre Muerto North
Lithium Project (HMN Li Project) on the Hombre Muerto Salar, a
major lithium-producing salar in Argentina. The salar is currently undergoing
significant lithium project development by Korean giant POSCO, and
the newly announced Allkem/Livent combination. Billions of dollars
are planned to be invested in the area to build out lithium
production on one of the best salars in the Lithium Triangle.
Lithium South is in an excellent position to participate in this
significant area development.
The technical and scientific information in this press
release was reviewed and approved by Dr. Mark King, a Qualified Person under 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
info@lithiumsouth.com
Website: www.lithiumsouth.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the 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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