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The location of the ground containing the potential battery metal input is said to be "highly advantageous" given it is near a hydroelectric plant and port.
Further work is planned though details from the company weren't clarified.
Southern Hemisphere is also exploring for copper in Chile.
The junior ended the March quarter with A$1.1 million cash.
Shares in Southern Hemisphere were up 7% to 1.6c in afternoon trade, capitalising the company at $7.6 million.
Last quarter Southern Hemisphere also listed on the Frankfurt Stock Exchange.
