To increase shareholder value, management intends to significantly expand the known resource with a drill program and further pumping wells. In addition, the Company will undertake a Feasibility Study using industry proven conventional evaporation and if warranted, Direct Lithium Extraction technology. Lithium South has approximately CDN$ 18 million in working capital and has an extensive advertising program planned to raise investor awareness by showcasing Lithium South’s exploration/development results.
Resource Expansion
The HMN Li Project is comprised of 3,287 hectares of which only the 383-hectare Tramo claim block has been drill tested. A recent TEM study has identified significant expansion potential over the balance of the claim blocks and in particular at the 2,089-hectare Alba Sabrina claim block. Drill permissions are expected in January 2022 and road as well as drill pad construction have already been initiated. A camp located near the project, has been contracted to house personnel and a drill contract is expected to be awarded this month.
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