VANCOUVER, BC, Aug. 9, 2022
/CNW/ -- SIGMA Lithium Corporation ("Sigma
Lithium" or the "Company") (NASDAQ: SGML, TSXV:
SGML), dedicated to powering the next generation of electric
vehicles with environmentally sustainable and high-purity lithium,
reports that it has filed a technical report titled "Grota do
Cirilo Lithium Project Araçuaí and Itinga Regions, Minas Gerais,
Brazil, Phase 3 Mineral Resource
Estimate" (the "Phase 3 Technical Report") supporting its
news release dated June 22, 2022,
announcing the approximate 50% increase to the total National
Instrument 43-101 ("NI 43-101") mineral resource estimate at
its 100% owned Grota do Cirilo Project (the "Project" or
"Grota do Cirilo").
The maiden mineral resource estimate at the Project's Phase 3
NDC deposit ("Phase 3") increased its estimated resource by
approximately 50%, to 85.7 Mt, comprised of:
- 73.6 Mt of Measured and Indicated mineral resources grading at
1.43% Li2O; and
- 12.1 Mt of Inferred mineral resources grading at 1.45%
Li2O.
The Phase 3 mineral resource estimate of 26.8 Mt announced on
June 22, 2022 is comprised of:
- 23.3 Mt of Measured and Indicated mineral resources grading at
1.49% Li2O; and
- 3.5 Mt of Inferred mineral resources grading at 1.48%
Li2O.
Refer to Table 1 below for additional details regarding the
maiden Phase 3 mineral resource estimate.
Table 1: Phase 3 Mineral
Resources
NDC Mineral
Resources
|
Cut-off
Grade
(%
Li2O)
|
Category
|
Tonnes
(Mt)
|
Grade
(%
Li2O)
|
Contained
LCE
(kt)
|
0.5 %
|
Measured
|
2.4
|
1.55 %
|
92
|
0.5 %
|
Indicated
|
20.9
|
1.48 %
|
765
|
0.5 %
|
Measured &
Indicated
|
23.3
|
1.49 %
|
857
|
0.5 %
|
Inferred
|
3.5
|
1.48 %
|
129
|
Note:
- Mineral Resources are not Mineral Reserves and do not have
demonstrated economic viability. Inferred mineral resources are
exclusive of the Measured and Indicated resources.
- The estimates have an effective date of May 30, 2022 and have been classified using the
2014 CIM Definition Standards. The Qualified Person for the
estimate is Mr. Marc-Antoine
Laporte, P.Geo., an SGS Canada employee.
- A fixed density of 2.72 t/m3 was used to estimate the
tonnage from block model volumes.
- Mineral Resources are reported assuming open pit mining
methods, and the following further assumptions: lithium concentrate
(6% Li2O) price of US$1,500/t, mining
costs of US$2.20/t for mineralization
and waste, crushing and processing costs of US$10.70/t, general and administrative (G&A)
costs of US$4.00/t, metallurgical DMS
recovery of 60%, 2% royalty payment, pit slope angles of 55º, and
an overall cut-off grade of 0.5% Li2O.
- All Mineral Resources are presented undiluted and in situ,
constrained by continuous 3D wireframe models, and are considered
to have reasonable prospects for eventual economic
extraction.
- Tonnages and grades have been rounded in accordance with
reporting guidelines. Totals may not sum due to rounding.
The Phase 3 Technical Report is available on SEDAR
(www.sedar.com), EDGAR (www.sec.gov) and the Company's corporate
website. The Phase 3 Technical Report was issued on August 4, 2022. The Phase 3 Technical Report was
prepared for Sigma Lithium by: Homero
Delboni Jr., MAusIMM, Promon Engenharia; Marc-Antoine Laporte, P.Geo, SGS Canada Inc;
Jarrett Quinn, P.Eng., Primero Group
Americas; Porfirio Cabaleiro
Rodriguez, (MEng), FAIG, GE21 Consultoria Mineral; and
Brian Talbot, FAusIMM, Rtek Pty
Ltd.
QUALIFIED PERSONS
The technical and scientific information related to geology and
mineral resource estimate in this news release has been reviewed
and approved by Marc-Antoine Laporte
P.Geo., M.Sc., of SGS Geological Services. Mr. Laporte is a
Qualified Person as defined by National Instrument 43-101 and is
independent of Sigma Lithium.
Mr. Wes Roberts, P.Eng., a member
of the technical committee of the Company, is the "qualified
person" under NI 43-101 who reviewed and approved the other
technical information included in this news release.
ABOUT SIGMA LITHIUM
CORPORATION
Sigma Lithium (NASDAQ: SGML, TSXV: SGML) is a Canadian company
dedicated to powering the next generation of electric vehicle
batteries with environmentally sustainable and high-purity
lithium.
Sigma Lithium is currently in construction at its wholly owned
Grota do Cirilo Project in Brazil,
the largest lithium hard rock project in the Americas and one of
the largest and highest purity lithium projects in the world.
The lithium will be processed in a state-of-the-art, green-tech
processing plant that uses 100% renewable energy, 100% recycled
water and 100% dry-stack tailings. Since inception, Sigma Lithium
has devoted itself to strong ESG practices, from its ongoing
support of local communities to its goal of achieving net zero by
2024. For more information about Sigma Lithium, visit
https://www.sigmalithiumresources.com/
Sigma Lithium
Sigma Lithium
@sigmalithium
@SigmaLithium
FORWARD-LOOKING
STATEMENTS
This news release includes certain "forward-looking
information" under applicable Canadian and U.S. securities
legislation, including but not limited to statements relating to
the Phase 3 mineral resource estimate, the general business and
operational outlook of the Company, and other forward-looking
information. All statements that address future plans, activities,
events, estimates, expectations or developments that the Company
believes, expects or anticipates will or may occur is
forward-looking information, including statements regarding the
potential development of mineral resources and mineral reserves
which may or may not occur. Forward-looking information contained
herein is based on certain assumptions regarding, among other
things: general economic and political conditions; the stable and
supportive legislative, regulatory and community environment in the
jurisdictions where the Company operates (including that the
Company will obtain all licenses and approvals required);
anticipated trends and effects in respect of the COVID-19 pandemic
and post-pandemic; the military conflict in Ukraine and related sanctions; demand for
lithium, including that such demand is supported by growth in the
electric vehicle market; the Company's market position and future
financial and operating performance; the Company's estimates of
mineral resources and mineral reserves, including whether mineral
resources will ever be developed into mineral reserves; and the
Company's ability to develop and achieve production at its mineral
projects. Although management believes that the assumptions and
expectations reflected in the forward-looking information are
reasonable, there can be no assurance that these assumptions and
expectations will prove to be correct. Forward-looking information
inherently involves and is subject to risks and uncertainties,
including but not limited to that the Company may not develop its
mineral projects into a commercial mining operation; the market
prices for lithium may not remain at current levels; and the market
for electric vehicles and other large format batteries currently
has limited market share and no assurances can be given for the
rate at which this market will develop, if at all, which could
affect the success of the Company and its ability to develop
lithium operations. There can be no assurance that such statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking information. The Company disclaims any intention or
obligation to update or revise any forward-looking information,
whether because of new information, future events or otherwise,
except as required by law. For more information on the risks,
uncertainties and assumptions that could cause our actual results
to differ from current expectations, please refer to the current
annual information form of the Company and other public filings
available under the Company's profile 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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SOURCE Sigma Lithium