Lithium South Development Corporation
(LISMF.QB) (LIS.V)

Get Top Rated Stock Alerts Active Traders Depend On

Sign Up Today For FREE News Driven Alerts

Lithium South Development Corporation Announces Property Payment Completed on 3287 Hectare Hombre Muerto North Lithium Project

New OTCQB Symbol LISMF

 

Vancouver, BC – March 25, 2021 – Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ) announces that it has completed the second to last property payment for the acquisition of the 3,287-hectare Hombre Muerto North Lithium Project located in Salata Province, Argentina.  The company issued 2,250,000 common shares and made a payment of US$1,000,000 to Jorge E. Moreno and Alba Silvia Sala (the “Vendors”) pursuant to a mining exploration agreement with option to purchase dated May 17, 2017, as amended on October 31, 2017 and April 22, 2018, entered into with the Vendors regarding the Hombre Muerto North Lithium project.

 

Company President Adrian F.C. Hobkirk is quoted, “we are pleased to have completed this important milestone for the acquisition of this advanced lithium asset.  We look forward to working with the vendor and the mining jurisdiction of Salta Province to further develop Direct Lithium Extraction at the project.”

 

The Hombre Muerto salar has three lithium projects under development including the companies, and projects by POSCO and Galaxy Resources.

 

The Company also announces it has changed its US ticker symbol to “LISMF” on the OTCQB, effective March 18, 2021.

 

About Lithium South

 

Lithium South is focused on developing the Hombre Muerto North Lithium Project (HMN Li Project), located on the Hombre Muerto Salar, the premier lithium-producing salar in Argentina. The project is adjacent to land under development by the Korean multinational corporation POSCO, which acquired the ground from Galaxy Resources Ltd. for U.S. $ 280 million. The Company completed a Preliminary Economic Assessment of the HMN Li Project in 2019, utilizing conventional evaporation extraction. The Company is focused on evaluating alternative extraction methods for the HMN Li Project and plans to become a leader in the application of Direct Lithium Extraction technology at the project level.

 

Investors / Shareholders:

Email: info@lithiumsouth.com
Toll Free: 855-415-8100
Website: www.lithiumsouth.com

 

On behalf of the board of directors of Lithium South Development Corporation

 

Adrian F. C. Hobkirk
President and Chief Executive Officer
Direct line: 954-684-8040

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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.

 

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

 

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.  Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

 

SOURCE:  Lithium South Development Corporation

Lithium South Development Corporation: Doubling of Lithium Recovery From Brine with Chemphys Process

Highlights:

  • 80% recovery of lithium from brine using Chemphys XFP-Lithium Direct Lithium Extraction (DLE) process.
  • Near doubling of lithium recovery rates from conventional evaporation extraction
  • Bulk brine sample acquisition for pilot scale test work.

 

Vancouver, British Columbia / March 17th, 2021 – Lithium South Development Corporation  (TSX-V: LIS) (OTCQB: NRGMF) (Frankfurt OGPQ) (the “Company”) is pleased to report completion of laboratory scale evaluation using synthetic brine modeled on the Hombre Muerto North Lithium Project (HMN Li Project) chemical composition. The test work was completed by Chengdu Chemphys Chemical Industry Ltd. (Chemphys) utilizing its proprietary XFP-Lithium Direct Lithium Extraction process, which selectively extracts lithium ions from brine. Testing was performed at the Chemphys ISO certified facility in Chengdu, China. Independent check sampling was completed at the PONY Testing International Group Co Ltd., an ISO/IEC 17020 and ISO/IEC 17025 certified laboratory. All work was completed under the supervision of Don Hains of Hains Technology Associates of Toronto, Canada, who is acting as the Qualified Person.

 

The process conditions were screened to select optimized parameters, (including operating at 25 oC). The average lithium recovery achieved was 80%, producing an intermediate lithium sulfate product enriched from 0.7 g/L Li to 1.7g/L Li. This represents a near 100% increase in lithium extraction, in comparison to the conventional evaporation process results completed by the Company. The laboratory test work shows good selectivity of the adsorption process, high Li adsorption, elution and total recovery rate and low adsorbent loss rate. Chemphys also determined that the intermediate lithium sulfate produced met the feedstock quality requirements to directly produce battery grade lithium carbonate.

 

Conventional lithium extraction involves the construction of large evaporation ponds to concentrate the lithium contained in the raw brine. The costs of pond construction is significant, the environmental footprint is large, and the production lead time is approximately 18 months. These factors contribute to the challenges of applying the traditional evaporation process to meet increasing market demand. The Chemphys process is part of an innovative class of lithium extraction technologies, Direct Lithium Extraction ( “ DLE “ ). The XFP-Lithium process allows for faster and more efficient extraction of lithium from brine with significantly reduced evaporation pond footprint. The Company is evaluating both conventional evaporation and DLE to determine the optimal process method for the HMN Li Project.

 

The next phase of test work will involve pilot plant cycle testing using synthetic brine and validation using a large bulk sample of HMN Li Project brine. The bulk brine sample acquisition will be conducted next week, with the sample expected in China by March.  The pilot program will further validate the process conditions established by the laboratory test work on a larger scale, continuous cycle program, and also produce high quality lithium carbonate samples. The pilot testing is expected to be completed in 2Q 2021.

 

Qualified Person/Data Verification

 

The scientific and technical information included in this press release is based upon information prepared and approved by Donald H. Hains, P.Geo.  Mr. Hains is a qualified person, as defined in NI 43-101 and is independent of Lithium South Development Corporation and Chengdu Chemphys Chemical Industry Ltd.. Mr. Hains has verified all sampling, analytical and test data underlying the information contained in this press release. There are no sampling, assay, recovery or other factors that could materially affect the accuracy and reliability of the data.

 

About Chemphys

 

Chemphys was established in 1998 and has operated its ISO 9001:2000 certified facilities since 2000. The company is a leader in high purity lithium carbonate and battery grade lithium hydroxide for the manufacturing of cathode materials and electrolytes of lithium ion batteries. Its products are recognized by all major lithium ion battery materials manufacturers and it is an integral part of the electric vehicle supply chain.

 

About Lithium South

 

Lithium South is focused on developing the Hombre Muerto North Lithium Project ( HMN Li Project ),   located on the Hombre Muerto Salar, the premier lithium-producing salar in Argentina. The project is adjacent to land under development by the Korean multinational corporation POSCO, which acquired the ground from Galaxy Resources Ltd. For U.S. $ 280 million. The Company completed a Preliminary Economic Assessment of the HMN Li Project in 2019, utilizing conventional evaporation extraction. The Company is focused on evaluating alternative extraction methods for the HMN Li Project and plans to become a leader in the application of Direct Lithium Extraction technology at the project level.

 

Website : www.lithiumsouth.com  Toll Free 855-415-8100 

 

On behalf of the board of directors of Lithium South Development Corporation

 

Adrian F. C. Hobkirk
President and Chief Executive Officer

 

Direct Ph 1- 954-684-8040

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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.

 

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

 

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.  Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

 

SOURCE:  Lithium South Development Corporation

Lithium South 5,336,667-share private placement

Vancouver, BC –  March 1, 2021 – Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: NRGMF) (Frankfurt OGPN) – 2021-03-01 20:49 ET – Private Placement

 

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Jan. 25, 2021.

 

Number of shares:  5,336,667 shares

Purchase price:  60 cents per share

Warrants:  5,336,667 share purchase warrants to purchase 5,336,667 shares

Warrant initial exercise price:  80 cents

Warrant term to expiry:  five years

Number of placees:  24 placees

 

Finders’ fees:  PI Financial Corp., $16,531.20 cash and 27,552 warrants; Public Eye Consulting Busche, $12,703.78 cash and 21,173 warrants; Nathan Rotstein, $175,095.60 cash and 291,826 warrants; Canaccord Genuity Corp., $40,869.44 cash and 68,116 warrants

 

Finder’s warrant initial exercise price:  80 cents

Finder’s warrant term to expiry:  five years

 

Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

 

About Lithium South Development


Lithium South is focused on the development of its flagship lithium brine project, Hombre Muerto North lithium project (HMN) in the Salta province of Argentina.

 

The property package of 3,287 hectares is comprised of six mining concessions.  Two production wells have been completed and cased on the Tramo Concession.  The project is strategically located with developed infrastructure.

 

The HMN project surrounded by two leading lithium brine producers, Korean giant POSCO and Galaxy Resources at the northern end of the renowned Hombre Muerto Salar.

 

HMN has an outlined Measured and Indicated Mineral Resources of .57M tonnes Lithium Carbonate Equivalent (LCE) Lithium South adds second drill at the Hombre Muerto North Lithium Projectand a projected mine life of 30 years.  A recent Preliminary Economic Assessment returns a Net Present Value of US$ 217 million, CAPEX of US$ 93 million and an Internal Rate of Return of 30%.  A Feasibility Study on the project is in progress which will include upgrading the current resource to a reserve status.

 

The Company is moving forward with the evaluation and development of alternative Lithium extraction technology.

 

The Company currently has approximately 28 million shares issued and outstanding, and trades on the TSX Venture Exchange under the symbol LIS, on the OTCQB Market under the symbol, NRGMF, and on the Frankfurt Stock Exchange under the symbol, OGPN.

 

COMPANY HIGHLIGHTS

 

  • World Class Management Team
  • Experience and excellent infrastructure – from first drill hole to PEA in only 11 months
  • PEA indicates potentially robust economics for a 5,000 tonne/year LCE operation with a CAPEX of $93.3M, OPEX of $3,112/t LCE, NPV(8) of $217M and IRR of 28.0%
  • Two production wells completed and cased
  • Sizeable property package (3,287 hectares) next to leading Lithium-brine producers
  • Partnered with high-purity Lithium battery producer in China – Chemphys – www.chemphys.com

 

PROJECTS

 

Hombre Muerto North Project in Argentina

NRG'S neighbor, POSCO is constructing pilot facility for the production of lithium.Located in Salta and Catamarca Provinces, Argentina. The property package of 3,287 hectares is comprised of the Alba Sabrina, Tramo, Natalia Maria, Gaston Enrique, Viamonte and Norma Edit concessions, all located in the Salar del Hombre Muerto in northwestern Argentina.

 

The Company has evaluated the HMN Project having completed the initial exploration, a resource calculation, and releasing PEA numbers.  The HMN Project is strategically located in the Hombre Muerto Salar, an area of active lithium production by FMC Lithium Co. at the Fenix lithium mine, some 12 kilometers south of the project area. The project is surrounded by ground now owned by POSCO, a Korean based lithium producer, as a result of its US$280 million purchase of the area from Galaxy Resources Ltd., an Australian-based producer. Galaxy Resources Ltd., is also moving their portion of the Hombre Muerto Salar, the Sal de Vida Project, to lithium production.

 

Highlights of the Hombre Muerto North Lithium Project include:

 

  • Test work underway for direct Lithium extraction, an alternative to the conventional evaporation process currently used by the industry. The process under development would potentially shorten lithium recovery time and provide higher recovery of lithium.
  • PEA indicates attractive economics for a 5,000 tonne/year LCE operation with a CAPEX of $93.3M, OPEX of $3,112/t LCE, NPV(8) of $217M and IRR of 28.0%.
  • Exceptional Li Samples;  300 – 400 meter average 918 mg/l Li with a low Mg to Li ratio.
  • Excellent Pump Test Results – produced 26 liters per second of lithium brine in 72-hours.
  • Geophysical data indicates zones of low resistivity, interpreted to be potential lithium-bearing zones that are open at depth.
  • Adjacent to Galaxy Resources’ Sal de Vida lithium development project sold in May 2018 to Posco for US$ 280 Million.
  • Highly qualified, Argentina-based team of professionals experienced with lithium exploration, development, through to lithium production.

 

SOURCE:  http://www.lithiumsouth.com/

Disclaimer

FN Media Group LLC (FNMG) owns and operates FinancialNewsMedia.com (FNM) which is a third party publisher that disseminates electronic information through multiple online media channels. FNMG’s intended purposes are to deliver market updates and news alerts issued from private and publicly trading companies as well as providing coverage and increased awareness for companies that issue press to the public via online newswires. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. Information in this release is derived from a variety of sources that may or may not include the referenced company’s publicly disseminated information. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. While this information is believed to be reliable, such reliability cannot be guaranteed. FNMG disclaims any and all liability as to the completeness or accuracy of the information contained and any omissions of material fact in this release. This release may contain technical inaccuracies or typographical errors. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser, or a broker-dealer, or a member of any financial regulatory bodies. Investment in the securities of the companies discussed in this release is highly speculative and carries a high degree of risk. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. This release is not without bias, and is considered a conflict of interest if compensation has been received by FNMG for its dissemination. To comply with Section 17(b) of the Securities Act of 1933, FNMG shall always disclose any compensation it has received, or expects to receive in the future, for the dissemination of the information found herein on behalf of one or more of the companies mentioned in this release. For current services performed FNMG has been compensated forty nine hundred dollars for Lithium South Development Corporation current news coverage by a non-affiliated third party.  FNMG HOLDS NO SHARES OF Lithium South Development Corporation

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

Sign Up & Get FREE News Alerts From FNM Today!