News Release
Atlas Lithium Strengthens Position In Global Market With Brazilian Mineral Rights Expansion
Benzinga
By Mangeet Kaur Bouns As the global shift towards sustainability and electrification gains momentum, the demand for lithium continues to soar, highlighting its essential role in creating a cleaner, more energy-efficient future. The U.S. aims to achieve 100% clean electricity by 2035, establishing a vital framework for net-zero emissions by 2050. Lithium has become indispensable in several modern industries, including electric vehicles, renewable energy storage, consumer electronics and aerospace. By 2030, global demand for lithium carbonate equivalent is anticipated to surpass 2.4 million metric tons, doubling the forecasted demand for 2025. In this context, Atlas Lithium Corporation (NASDAQ: ATLX) is strategically positioned to meet this rising demand through its expansive project portfolio in Brazil and its strong operational capabilities. Atlas Lithium has recently announced a significant expansion of its lithium mineral rights in Brazil and notable progress towards lithium concentrate production, positioning itself as a key player in the global lithium market. Expansion Of Lithium Exploration Footprint Atlas Lithium has more than doubled its lithium exploration portfolio in Brazil to approximately 539 km² (208 miles²). This expansion includes promising new mineral rights in the Doce River and Mucuri Valleys, areas that are relatively untapped for lithium exploration. These regions, located near Governador Valadares in Minas Gerais, enhance Atlas Lithium’s strategic position, providing access to a new frontier for lithium in Brazil. Governador Valadares, a municipality of around 280,000 inhabitants, is an important regional center with favorable infrastructure and access roads. It is approximately 350 km (217 miles) from the Port of Vitoria. "Our new mineral rights near Governador Valadares offer access to an exciting new lithium frontier that has been relatively untapped beyond gemstone mining. This region hosts dozens of documented lithium-rich pegmatites, presenting a substantial opportunity for us," James Abson, chief geology officer at Atlas Lithium, said. Nick Rowley, vice president of Business Development, added, "Our immediate focus is on becoming a producer of lithium concentrate. By significantly increasing our mineral rights holdings, we are solidifying our leading position in Brazil, which is increasingly recognized globally as a hub for hard-rock lithium production." Progress Towards Lithium Concentrate Production At Neves Project Atlas Lithium is rapidly advancing towards producing lithium concentrate at its flagship Neves Project, located in Brazil’s Eastern Brazilian Pegmatite Province (EBPP). The company plans to commence production in the fourth quarter of 2024, aiming to produce up to 150,000 tons per annum (tpa) of battery-grade spodumene using dense medium separation (DMS) technology in Phase 1. This capacity is set to double to 300,000 tpa in Phase 2 by 2025. In preparation for this milestone, Atlas Lithium has completed the trial assembly of its DMS plant, scheduled for shipment to the site in the third quarter of 2024. The geological team has been actively drilling within the Neves Project area, having mapped and sampled more than 84 pegmatite outcrops. The company’s exploration campaign, initiated in late 2023, leverages advanced techniques such as hyperspectral satellite and drone LiDAR mapping to accelerate pegmatite discovery and enhance target prioritization. Additionally, Atlas Lithium is progressing with a Definitive Feasibility Study (DFS) for the Neves Project, which is expected to be completed before the commencement of initial production. This study will include an updated Mineral Resource Estimate (MRE) encompassing the Anitta 1, Anitta 2 and Anitta 3 deposits and assess the project’s economic viability and resource expansion opportunities. The Neves Project's location within the EBPP is strategic, given the province's reputation as one of the largest pegmatite regions globally, renowned for its high-quality lithium deposits. The project aims to leverage this geographical advantage to produce competitively priced high-grade lithium, addressing the growing global demand. Exploration Discoveries At Valadares And Coronel Murta Projects Valadares Project The Valadares Project, located approximately 50 km (31 miles) from Governador Valadares within the EBPP, is a focal point of Atlas Lithium’s exploration efforts. The newly acquired permits lie within the Joao Pinto schist units, known for their lithium-cesium-tantalum (LCT) pegmatites. Initial mapping and sampling have identified six additional spodumene-bearing pegmatites, underscoring the potential of these new claims. Artisanal miners have mined a particularly promising spodumene-bearing pegmatite for tourmalines, estimated to be at least 20 meters wide. First-pass samples of spodumene crystals from these galleries returned lithium oxide (Li₂O) grades exceeding 3.23%. These findings have guided the planning of future drilling campaigns. The company’s exploration team has utilized advanced tools such as high-resolution drone surveys, including LiDAR, RGB and multi-spectral imaging, to conduct detailed mapping and identify pegmatite bodies. These efforts are complemented by soil sampling campaigns highlighting lithium and LCT-pegmatite pathfinder element trends across the permit area. Coronel Murta Project Approximately 50 km (31 miles) northwest of the Neves Project, the Coronel Murta Project is strategically situated within the EBPP. The Barro do Salinas pegmatite, located within the company’s tenement, is a priority target area due to its known spodumene-bearing occurrences. Atlas Lithium has employed Sentinel-2 multi-band spectral imagery and other high-resolution satellite data to identify promising targets aligning with known pegmatite trends. Initial geological mapping and a detailed soil sampling campaign are underway to highlight lithium and LCT-pegmatite pathfinder element trends across the permit. Preliminary analysis has already identified anomalous concentrations of cesium, indicating the likely presence of LCT pegmatites on the property. High-resolution drone surveys, including LiDAR, RGB and multi-spectral imaging, have been deployed to support detailed mapping efforts. Upon completing these studies, the company plans to conduct a high-resolution drone magnetics geophysics survey to expand its scout drilling campaign in this high-priority area. Strategic Positioning Of Atlas Lithium With one of the largest exploration project portfolios in Brazil, the adoption of cutting-edge processing technologies and strong financial backing, Atlas Lithium says it is well-positioned to produce high-quality, low-cost lithium concentrate to meet robust global demand. The company’s strategic expansions and technological advancements solidify its role as a primary player in the global lithium market. The comprehensive datasets generated from these exploration activities have highlighted several highly promising coincident and parallel targets. For instance, a linear lithium anomaly with a strike length of 1.2 km (0.75 miles) coincides with the Anitta 2 mineralized pegmatite. These insights have led to the discovery of additional drilling targets, enhancing the project's overall potential. Atlas Lithium’s approach includes leveraging advanced geological techniques, securing strategic mineral rights and investing in state-of-the-art processing technology. These efforts mean that the company is likely to remain at the forefront of the lithium industry and will be able to meet the increasing demands of various sectors, including electric vehicles, renewable energy storage, consumer electronics and aerospace. Featured Photo by MiningWatch Portugal on Unsplash Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com
June 24, 2024 08:35 AM Eastern Daylight Time
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