(Lithium South, 10.Aug.2023) — Lithium South Development Corporation (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ) has formalized a contract with Well Drilling of Salta, Argentina, for the provision of a two-phase program of up to six production/pumping wells for the Hombre Muerto North Lithium Project (HMN Li Project), located in Salta Province, Argentina.
Phase One will locate Wells P1 and P2 on the Alba Sabrina claim block, and well P3 on the Natalia Maria claim block.
Phase Two will site an additional three production wells within a zone across the Norma Edit and Viamonte Claim blocks. The LIS technical team is reviewing geological and regulatory details prior to a Phase Two decision. The total program will range between 1,000 and 1,500 meters with a budgeted value of between $1.2mn to $1.8mn.
Lithium South President and CEO, Adrian F. C. Hobkirk is quoted, “We are excited to begin the next phase of the development of the HMN Li Project. The installation of production/pumping wells will provide valuable information regarding brine flow rates and pumping potential.”
Investor Awareness and Advertising Program
As the HMN Li Project continues to meet expectations, the company announces it is initiating an investor relations and advertising program to raise awareness of the project and company. To provide increased exposure, the company announced Mr. Drew Martel has joined the team as Corporate Development Advisor. Martel will assist in broadening the institutional investment base, research analyst, newsletter, and media coverage. Terms for the one-year arrangement are CAD$12,500 monthly and 750,000 incentive stock options at $0.46.5 per share.
Martel has been in the resource industry for 25 years as Corporate Development, Communications and Finance holding senior positions with MAG Silver and Tan Range Resources. His experience in mergers and acquisitions includes New Millennium Metals Corp. which was merged with Platinum Group Metals Ltd., Balmoral Resources which was acquired by Wallbridge Mining Company Ltd., and Constantine Metal Resources which was acquired by American Pacific Mining Corp.
The company has retained Equedia Network Corporation to provide advertising, press release distribution, native advertising of editorial, and additional services as may be determined. The program will utilize non-generic marketing channels to provide company exposure to fresh investment audiences. The advertising program is budgeted for US$350,000 over a nine-month term.