Industria
Lithium South Pumping/Production Well Drilling Update
Alba Sabrina Production Well One (ASPW1) has been drilled to 340 meters depth and is nearing the target depth of 400 meters. The well has encountered sand and sand/broken rock from surface to the current depth. Porosity is anticipated to be good. Upon target depth, the well will then be cased, developed, and a pumping test will be completed. A technical review is underway to determine the optimal location for further pumping wells on the Alba Sabrina claim block.
Company President and CEO, Adrian F. C. Hobkirk is quoted, "We are excited to be nearing the completion of our first deep pumping well at the Alba Sabrina claim block. We look forward to pumping test results."
The Preliminary Economic Assessment (PEA) announced October 18, 2023 , is nearing completion. Knight Piesold Consulting and JDS Energy and Mining are now completing the financial model. Full results are expected shortly. The PEA will have an Initial Design Capacity of 15,000 tonnes per year Lithium Carbonate Equivalent.
Further details are available at the Company website at www.lithiumsouth.com.
Lithium South (LIS) owns 100% of the Hombre Muerto North Lithium Project (HMN Li Project) located in Salta and Catamarca Provinces, Argentina , the heart of the lithium triangle. The HMN Li Project is surrounded by a US$4 billion lithium development under construction by POSCO (Korea) and the Sal de Vida Project under development by Arcadium Lithium. LIS has delineated a NI 43-101 compliant 1,583,100 tonne Lithium Carbonate Equivalent (LCE) resource on the Alba Sabrina, Natalia Maria , and Tramo claim blocks, three of five non-contiguous blocks that make up the HMN Li Project. A pumping/production well drilling campaign is underway.�� A Preliminary Economic Assessment based on the Tramo, Alba Sabrina and Natalia Maria claim blocks is expected in January, 2024. LIS is transitioning from being a lithium explorer to becoming a lithium developer.
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.
Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 1-855-415-8100 / website: www.lithiumsouth.com
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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