First Hole HMN Li Project, Argentina Second Drill Rig on Site

(Lithium South, 25.Aug.2022) — Lithium South Development Corporation (TSX-V: LIS) (OTC-QB: LISMF) (Frankfurt: OGPQ) provided an update on the drilling campaign currently underway at the Hombre Muerto North Lithium Project (HMN Li Project) in Salta Province, Argentina.

The first hole AS01 has now been completed to a depth of 270m. As the first hole has progressed, drilling has become very difficult due to geological instability. The decision was made to conclude the hole at this depth, though geological basement was not reached. Double-packer sampling is now underway and will continue for the coming few days. Samples will be obtained from borehole intervals deemed to be of interest. Alex Stewart Laboratories, an ISO Certified laboratory located in Mendoza Argentina is conducting the assay test work. Dr. Mark King, a Qualified Person (QP) under NI 43-101 is supervising the program.

A second drill rig operated by Andagala Perferaciones S.A. is now on site. The unit will locate to the middle of the Alba Sabrina Claim Block and initiate hole AS03.

Company Director and Chief Operating Officer, Fernando Villarroel states, “We are very pleased to have completed our first hole at the Alba Sabrina claim block. Our second drill rig is now on site, and we look forward to moving the program ahead quickly.”

The objective of the program is to potentially expand the current Lithium Carbonate Resource which is defined with an average grade of 756 mg/L lithium within 571,000 tons in the Measured and Indicated Categories (See news release 4 December 2018, and NI 43-101 compliant Technical Report titled, Initial Measured and Indicated Lithium and Potassium Resource Estimate, Hombre Muerto North Project, Salta and Catamarca Provinces, Argentina, prepared by independent consultants Montgomery and Associates of Santiago, Chile).  

The current Resource is contained solely on the Tramo Claim Block, which is 383 hectares in size. Tramo is one of five Salar-located, non-contiguous claim blocks that comprise the total project area of 3,287 hectares. The current drill program is focused on exploration of the Alba Sabrina Claim Block, which is 2,089 hectares in size.

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