Lithium South Development Corporation - LISMF stock
Overview[edit]
Lithium South Development Corporation (OTC: LISMF, TSXV: LIS) is a mining company specializing in exploring and acquiring minerals. The company's main focus is on the Hombre Muerto North lithium brine project, which is located in Salta Province, Argentina, and covers an area of approximately 5,687 hectares. The company was founded in 1995 and is headquartered in Vancouver, Canada. Prior to November 2020, the company was known as NRG Metals Inc.[1]
Operations[edit]
Lithium South Development Corporation is currently working on the Hombre Muerto North Lithium Project (HMN Li), located in Argentina's Hombre Muerto Salar region. This region is known for its lithium production. The HMN Li Project comprises approximately 5,687 hectares of land, divided into nine mining concessions. The project is located in an area with developed infrastructure and is surrounded by two other lithium producers, POSCO and Livent.[2]
Hombre Muerto North Lithium Project[edit]
The Hombre Muerto Project comprises over 3,200 hectares with five claim blocks: Alba Sabrina (2089 hectares), Natalia Maria (115 hectares), Viamonte/Norma Edith (595 contiguous hectares), Gaston Enrique (55 hectares), and Tramo (383 hectares).[3] The first hole of the campaign, known as AS101, began drilling on June 12, 2022. It is located in the middle of the Alba Sabrina Claim Block, the largest of the nine claim blocks that make up the HMN Li project. The Alba Sabrina Claim Block covers an area of approximately 2,089 hectares.[4] The drill campaign is part of an effort to expand the resource at the HMN Li project and is composed of seven core holes, designated as Holes AS01, AS02, AS03, AS04, AS05, AS06, and AS07. Four holes (AS01, AS02, AS03, and AS04) are located north to south along a channelized extension off the main salar, while the remaining three holes (AS05, AS06, and AS07) are located along the west side of the channel.[5]
The company has completed a preliminary economic assessment of the HMN Li Project, which utilized a conventional evaporation extraction process. However, the company is also considering alternative methods, such as direct lithium extraction (DLE).[2] The company is currently conducting an expansion drill program and working on process test work and permitting for the HMN Li Project. This project covers an area of approximately 5,687 hectares, which is divided into nine mining concessions. It is located in an area with developed infrastructure and is surrounded by two leading lithium producers, POSCO and Livent.[6]
POSCO Argentina SAU Cooperative Development Agreement[edit]
POSCO Argentina SAU is a subsidiary of Pohang Iron and Steel Company (POSCO). Under a joint development agreement, POSCO and Lithium South will explore acreage in the Viamonte and Norma Edith blocks, in which both companies hold claims.[3]
Resource Drilling Expansion[edit]
Lithium South Development Corporation is conducting a drill program to potentially expand the current Lithium Carbonate Resource at its Hombre Muerto North Lithium Project (HMN Li) in Argentina. The drill program involves a 2,000-meter core hole on the largest claim block of the HMN Li project, known as the Alba Sabrina claim. A preliminary economic assessment (PEA) of the project showed the presence of 571,000 tons of Lithium Carbonate Equivalent (M&I) on just 14 percent of the property. The first hole of the drill program, known as AS04, was completed on August 10, 2022, and the overall average of the three wells sampled to date is 734 mg/L Li.[7]
Management[edit]
The board of Directors & Management of the company are:[8]
Adrian F. C. Hobkirk, President, Chief Executive Officer, and Director. Mr. Hobkirk has 32 years of experience in the mining industry, beginning with Norgold Resources in 1990.
Christopher P. Cherry, Director and Chief Financial Officer. Mr. Cherry has over 20 years of corporate accounting and audit experience.
Alison Dai, Director. Ms. Dai has seven years of experience in the lithium industry and is responsible for business development. She is also a director for Chengdu Chemphys Chemical Industry Co., Ltd.
Yi Hua Dai, Director. Dr. Dai founded Chemphys in 1998, focusing on battery quality and high-purity lithium processing. He is a certified Technical and Economic Expert of Sichuan Province and a China Non-ferrous Metals Industry Association Expert.
Jan Urata, Corporate Secretary. Ms. Urata has over 20 years of experience in public company corporate finance and securities-related matters.
- ↑ Investing.com. Equities. Lithium South Development Corp. Accessed on 12/22/2022.
- ↑ 2.0 2.1 Financial Times Equities. Lithium South Development Corp. Profile. Accessed on 12/22/2022.
- ↑ 3.0 3.1 PR Newswire. Lithium South Announces Cooperative Development Agreement with POSCO Argentina SAU on HMN Li Project. January 11, 2024.
- ↑ Yahoo Finance. High Grade Lithium Discovery at Alba Sabrina Claim Block. August 10, 2022.
- ↑ Yahoo Finance. Lithium South Provides Further Excellent Lithium Results. December 13, 2022.
- ↑ LithiumSouth.com. LISMF Projects. Accessed on 12/22/2022.
- ↑ LithiumSouth.com. Live Cam. Accessed on 12/22/2022.
- ↑ LithiumSouth.com. LISMF Leadership. Accessed on 12/22/2022.
OTC Symbol: LISMF | OTC Tier: OTCQB
