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) and 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.
Hombre Muerto North Project in Argentina
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:
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