HIGHLIGHTS
Achieves Operational Targets
- Sigma Lithium announces that its Greentech Plant has
reached record daily peak production of 890 tonnes of Triple Zero
Green Lithium, equivalent to annualized production of 320,000
tonnes
- The Company is on track to achieve annual 2023 production
guidance of 130,000 tonnes
- The Company has exceeded the design utilization rate of 85%,
running at 88%
- Greentech Plant's throughput has evolved to 100% design
capacity
SAO
PAULO, Oct. 2, 2023 /CNW/ -- Sigma Lithium
Corporation ("Sigma Lithium" or the "Company")
(NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading
global lithium producer dedicated to powering the next generation
of electric vehicles with carbon neutral, responsibly sourced
chemical grade lithium concentrate, announces that its Greentech
Plant has reached record daily peak production of 890 tonnes,
equivalent to annualized production of 320,000 tonnes of Triple
Zero Green Lithium at battery grade with 5.5% of lithium oxide.
Therefore, as planned, the Company demonstrates it remains on
track to achieve annual 2023 production guidance of 130,000 tonnes
of Triple Zero Green Lithium.
Sigma Lithium has successfully ramped up its Greentech Plant to
enable it to operate at 100% of design nameplate throughput
capacity of annualized production of 270,000 tonnes of Triple Zero
Green Lithium.
Achieved Operational Targets
Achieving these targets demonstrates the excellent performance
of the Greentech Plant and its tailings dry-stacked circuit in
synchronicity with Dense Medium Separation (DMS).
- The Company has exceeded the design utilization rate of 85%,
running at 88%.
- Throughput has evolved, as planned, from 75% throughput
capacity at the end of July 2023 to
100% design capacity, as of Sept. 30,
2023.
- DMS cyclones operating consistently at 200 tonnes/hour (maximum
capacity is 230 tonnes/hour)
- Greentech Plant global recoveries have been tracking in line
with design.
- The Company has been calibrating "down" the concentrate grade
from 5.9% Li2O lithium concentrate.
Sigma Lithium's state-of-the-art Greentech Plant is the first
lithium plant in the world to produce chemical grade lithium
concentrate without a tailings dam and with 100% reuse of the water
utilized in the processing.
- With 100% dry-stacked tailings and the absence of hazardous
chemical products in processing the lithium, the Company is
minimizing the risk of water and soil contamination.
- Actively contributing to the preservation of water and
biodiversity (ecosystems of creeks, and "caatinga" vegetation in
the region).
Sigma Lithium has been demonstrating high adherence to the
reserve reconciliation:
- Actual ore grade and volumes mined are in line with long term
geological and mining models reserves stated at the Company's NI
43101 Technical Report.
Achievement of these milestones is due to the dedication and
commitment of the on-site Sigma Lithium team, led by Director of
Mining Reinaldo Brandao and Director
of Processing Keith Prentice. Over
the past three months of their on-site supervision, Reinaldo and
Keith have led the operational ramp-up of the Greentech Plant,
including the re-engineering of the tailings dry-stacking/water
reusage circuit.
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML) is a
leading global lithium producer dedicated to powering the next
generation of electric vehicle batteries with carbon neutral,
socially and environmentally sustainable chemical-grade lithium
concentrate.
Sigma Lithium has been at the forefront of environmental and
social sustainability in the EV battery materials supply chain for
six years and it is currently producing Triple Zero Green Lithium
from its Grota do Cirilo Project in Brazil. Phase 1 of the project is expected to
produce 270,000 tonnes of Triple Zero Green Lithium annually
(36,700 LCE annually). If it is determined to proceed after
completion of an ongoing feasibility study, Phase 2 & 3 of the
project are expected to increase production to 766,000 tonnes
annually (or 104,200 LCE annually). The project produces Triple
Zero Green Lithium in its state-of-the-art Greentech lithium plant
that uses 100% renewable energy, 100% recycled water and 100%
dry-stacked tailings.
Please refer to the Company's National Instrument 43-101
technical report titled "Grota do Cirilo Lithium Project Araçuaí
and Itinga Regions, Minas Gerais, Brazil, Amended and Restated Technical Report"
issued June 12, 2023, which 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
Noel O'Brien, B.E., MBA, F AusIMM
(the "Updated Technical Report"). The Updated Technical Report is
filed on SEDAR and is also available on the Company's website.
For more information about Sigma Lithium, visit
https://www.sigmalithiumresources.com/
Sigma Lithium
LinkedIn: Sigma Lithium
Instagram: @sigmalithium
Twitter: @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
timing and costs related to the general business and operational
outlook of the Company, the environmental footprint of tailings and
positive ecosystem impact relating thereto, donation and upcycling
of tailings, timing and quantities relating to tailings and Green
Lithium, achievements and projections relating to the Zero Tailings
strategy, achievement of ramp-up volumes, production estimates and
the operational status of the Groto do Cirilo Project, 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
Brazil; 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 operate its mineral projects including that the Company
will not experience any materials or equipment shortages, any
labour or service provider outages or delays or any technical
issues. 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 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