SIGMA Lithium Resources Corporation ("Sigma" or the
"Company") (TSX-V: SGMA), (OTC-QX SGMLF) is pleased to
announce that it received the definitive water permits for the
construction of its commercial-scale lithium concentration
production plant (“
Lithium Concentration Plant”).
Additionally, under the regional development incentive program of
SUDENE, Sigma has also been granted full eligibility to receive
certain income tax exemptions, including a 75% corporate income tax
reduction for 10 years.
“The water license is a significant step for Sigma, as it is one
of the final governmental authorizations necessary for Sigma to
become fully licensed environmentally for the construction phase of
the project. Additionally, the strong economic implications of the
SUDENE tax incentives will further support the Company,” said Sigma
CEO Calvyn Gardner.
Environmental Licensing Update – Significantly Advancing
in the Permitting Process
Agência Nacional de Águas, the federal government water agency
of Brazil, has officially published the approval of Sigma’s water
usage license to pump up to 150m3/h of water (cubic meters per
hour) from the Jequitinhonha river to the Lithium Concentration
Plant. The license is valid for 10 years. Based on the initial
design being considered under the ongoing Feasibility Study
(“FS”), the Lithium Concentration Plant will have
an initial processing capacity of 1.5 million tonnes of spodumene
per year. That plant design contemplates a capacity of 240,000
tonnes of spodumene concentrate annually. The Lithium Concentration
Plant would recirculate approximately 90% of the water consumed in
the production process for lithium spodumene concentrate. As a
result, the water license received is sufficient for Sigma to
double the capacity of the Lithium Concentrate Plant to process 3
million metric tonnes of spodumene per year to an expected 440,000
tonnes of spodumene concentrate.
Sigma is also pleased to announce that it has significantly
advanced the environmental permitting process for the construction
and installation of its Lithium Concentration Plant
(“LI/LP”), following the filing of the application
for environmental permit in December 2018.
Based on the progress to date, Sigma remains on track to
finalize its Feasibility Study by the beginning of April 2019 and,
if recommended in the Feasibility Study and required funding is
obtained, commence breaking ground for construction of the Lithium
Concentrate Plant by the end of June, 2019.
“On the Environmental aspect of ESG, Sigma is deeply committed
to sustainable resource management and proactively minimizing its
environmental and carbon footprints. The Company’s operations are
powered by hydro-electricity, a renewable energy source. Sigma is
also one of the first mining operations in Brazil using dry
stacking tailings management techniques, and it will not be
building a tailings pond. Our water license was granted as a result
of Sigma’s application of advanced environmental techniques of
water management, aimed to increase the water efficiency through a
plant design that incorporates state of the art technology for
water recycling during the processing of the lithium concentrate,”
said Sigma’s Brazilian Subsidiary President Itamar Resende.
Corporate Income Tax Exemptions Under Regional
Development Program
Sigma is also pleased to announce that it was granted full
eligibility to receive certain tax incentives and exemptions under
an economic development program administered by SUDENE, a Brazilian
federal government agency responsible for the semi-arid regions of
Brazil, historically plagued by severe drought. The main tax
benefits under the SUDENE program include a 75% corporate income
tax reduction for 10 years after the Company reaches more than 20%
of its annual production capacity and incentivized accelerated
depreciation of assets;
“Both of these developments represent a significant validation
of Sigma’s strong commitment to upholding the highest levels of
environmental and social ESG standards. On the “Social Aspect” of
ESG, Sigma has been amongst the largest investors in the
Jequitinhonha Valley region, one of the poorest areas in Brazil.
The SUDENE tax incentive recognizes Sigma’s positive
transformational impact in the economic development of the region.
During the construction phase in 2019, Sigma and its contractors
expect to employ directly and indirectly over 500 people,”
commented Mr. Gardner.
Sigma Files Updated NI 43-101 Technical Report at
SEDAR
Sigma is pleased to announce the filing of a National Instrument
43-101 technical report titled “NI 43-101 TECHNICAL REPORT UPDATE
Northern and Southern Complexes Project”. The mineral resource
estimate, prepared by SGS Canada Inc. (“SGS”) was
announced on January 10th, 2019 and demonstrated measured and
indicated resources of 45.7 million tonnes with a grade of 1.38%
and inferred resource of 6.6 million tonnes with a grade of 1.34%.
This represents approximately 1,560,919 tonnes of Lithium Carbonate
Equivalent (“LCE”) in the measured and indicated
categories with a further 220,070 tonnes LCE in the inferred
category. The estimates were prepared using a cut-off grade of 0.5%
Li2O.
The “NI 43-101 TECHNICAL REPORT UPDATE Northern and Southern
Complexes Project” is available at Sigma’s profile at SEDAR at
www.sedar.com
Phase I Production Plant Update - Consistent Production
of Battery Grade 6% Lithium Coarse Concentrate
For pictures of the Phase I Production Plant and
Concentrate please click:
http://www.sigmalithiumresources.com/pilot-plant-photos/
Sigma is pleased to announce that it has been consistently
producing a high-quality concentrate with 6% Li2O at its Phase I
Production Plant.
Sigma has been conducting a series of tests using different
operating parameters, including particle size and various specific
densities of the media. As part of the tests, which started after
the plant was commissioned last August, the coarse part of crushed
pegmatite was fed into a DMS. The tests were on particle sizes of
20/6mm, 15/6mm and 12/6mm and all sizes produced high-quality
concentrate. Such results demonstrate Sigma’s ability to produce
high quality coarse concentrate on a pilot plant scale, mainly as a
result of the outstanding mineralogy of the Xuxa deposit with large
spodumene crystals.
Specifically, the 12/6mm particle size consistently produced a
concentrate with a minimum of 6% Li2O and a maximum 1% Fe2O3. Xuxa
spodumene mineralization has a specific density close to 3g/cm3,
therefore Sigma achieved recovery ratios for the lithium at the
media density setting of 2,85g/cm3.
Independent Qualified Person
The technical and scientific information in this press release
has been reviewed and approved by Marc Antoine Laporte, P.Geo., M.
Sc., of SGS Canada Inc. Mr. Laporte is a Qualified Person as
defined by National Instrument 43-101 and is independent of
Sigma.
About Sigma Lithium Resources Corporation
Sigma is developing a leading lithium hard rock deposit with
exceptional mineralogy at its Grota do Cirilo property in Brazil.
Our output of lithium minerals is destined for the fast-growing
lithium-ion battery market, which is driven by the increasing
demand for electric vehicles and energy storage worldwide.
Sigma commissioned its Phase I pilot plant and has produced over
100 tonnes of samples of battery grade spodumene lithium
concentrate from its high-quality deposits.
Sigma’s corporate mission is to execute its strategy while
embracing environmental, social, and governance principles. Sigma
is on track to become a high quality spodumene concentrate supplier
to the lithium battery industry worldwide. Sigma plans to commence
construction of a commercial-scale lithium concentration plant in
the second quarter 2019. Sigma shareholders include some of the
leading ESG (environmental, sustainability, governance) focused
institutional investors in the world.
For additional information please contact:Sigma
Lithium Resources Corporation / www.sigmalithiumresources.com
Company Contact:Ana CabralChief Strategy Officer55 11
2985-0089ana.cabral@sigmaca.com
Corporate Communications:Anthony Dovkants 55 11
99686-8060anthony@prconsultingamericas.com
Forward-Looking Statements
This news release contains forward-looking statements relating
to the objectives of the Company, the potential for increased
resources, concentration plant construction and expected production
levels, achieving sustainable production and other statements that
are not historical facts. Readers are cautioned not to place undue
reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur. By their nature, forward-looking
statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections and
other forward-looking statements will not occur, which may cause
actual performance and results in future periods to differ
materially from any estimates or projections of future performance
or results expressed or implied by such forward-looking statements.
These assumptions, risks and uncertainties include, among other
things: the state of the economy in general and capital markets in
particular, the availability of project financing on reasonable
terms and investor interest in the business and future prospects of
Sigma.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, Sigma disclaims any intention and assumes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable securities law. Additionally, Sigma
undertakes no obligation to comment on the expectations of, or
statements made, by third parties in respect of the matters
discussed above.
The key risks and uncertainties that could cause actual results
or the material factors and assumptions applied in preparing
forward-looking information to differ materially from predictions,
forecasts, projections, expectations or conclusions are discussed
in the “Risk Factors” section of Sigma’s Filing Statement dated
April 25, 2018. We caution that the foregoing list is not
exhaustive of all possible factors.
For more information on the risks, uncertainties and assumptions
that could cause our actual results to differ from current
expectations, please refer to our public filings available at
www.sedar.com
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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