Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade. And this company just announced the initiation of a well-drilling campaign at its lithium project. Lithium South Development Corporation (TSX-V: LIS) (OTCQB: LISMF) announced in a press release today the initiation of a pumping/production well drilling campaign at the 5-claim block Hombre Muerto North Lithium Project (HMN Li Project) Salta, Argentina. The project is located in the heart of the lithium triangle.
There will be drilling at three wells in the Phase One program. Notably, each well will be fitted with screen filters and blind casing and upon completion, long-term pumping tests will be conducted to determine brine transmissivity, including the maximum flow of each well. Canadian shares were trading up at $0.455 in afternoon trade.
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