(Lithium South, 17.Mar.2022) — Lithium South Development Corporation (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) announced finalization of the Environmental Baseline Study for the Hombre Muerto North Lithium Project (HMN Li Project), Salta, Argentina.
E&C Consultores of Salta have been completing the final in field survey, collecting data on the Flora, Fauna, hydrology, and climate in areas of project influence during the rainy season. The final results are being prepared under the General Environmental Law of the Mining Code 24.585 and are expected to be tabulated by the end of March, for filing with the Mining Authority.
Completion of the Environmental Baseline Study is an important milestone for the development of the HMN Li Project as it will form the base data to prepare the final Environmental Report for any future lithium production facility. Work to date has covered all 3,287 hectares comprising the salar portion of the project. Finalization of the Environmental Report will provide a key part in the completion of a Feasibility Study.
A 2,000-meter drill program is being scheduled for the Alba Sabrina claim block to potentially expand the total current project resource. Other claim blocks within the package may also be drilled in the future. Process test work utilizing both conventional evaporation and Direct Lithium Extraction technology is also nearing completion, with results expected shortly
Property Transfer Update
Pursuant to the third addendum to the Acquisition Agreement for the HMN Lithium Project, a final tranche of 500,000 common shares has been issued to the property vendor(s), Jorge E. Moreno and Alba Silvia Sala, at a deemed price of CDN$0.55. The property title is now in the transfer process and expected to conclude in the coming days with the Company obtaining 100% ownership of the HMN Li Project, subject to a 3% production royalty to the vendors.
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