VANCOUVER, British Columbia, Nov. 01, 2018 (GLOBE NEWSWIRE) -- Sigma Lithium Resources Corporation ("Sigma" or the "Company") (TSX-V: SGMA), a developer of a world-class, hard rock lithium deposit at its Grota do Cirilo property in Brazil, is pleased to announce a new corporate video in which Chairman and CEO, Calvyn Gardner, and President of Sigma Brazil, Itamar Resende, provide an update on the Company’s lithium project construction, major developments in recent months, and potential off-take discussions with strategic partners.
Please visit the Company’s homepage at www.sigmalithiumresources.com for the full corporate update video.
Earlier this month, the Company announced a shipment of high quality lithium concentrate samples with an average grade of 6.27% Li2O and a size of 9.3mm to potential long-term off-take partners in Asia for validation. The samples reflect the high quality of Sigma’s spodumene concentrate, including its low impurities, specifically low levels of alkaline elements at 0.76% in the form of sodium oxide plus potassium oxide and low levels of iron at 0.79% as iron oxide.
In August 2018, the Company commissioned its phase 1 production plant to produce a high-quality battery-grade coarse spodumene concentrate with 6% Li2O. The production plant is modular and is expected to initially produce 12,000 tonnes of lithium spodumene concentrate per year.
Calvyn Gardner, CEO and Chairman of Sigma Lithium, commented on the Company’s recent developments and outlook for the future, “Having a strategic off-take partner minimizes risk, knowing that we have a long-term customer committed to purchasing the product and, generally speaking, to help finance the project. This is very helpful for the mining company being able to get to production sooner. In addition, it allows the off-taker to secure their production and execute on their business strategy more quickly.”
Mr. Gardner added, “We have completed 30,000 meters of drilling and based on our results to date, we expect to expand the resource to around 37 million tonnes of ore – which is very significant in terms of lithium resources. We have published our scoping study, showing that the project is economically feasible, and have now moved on to the next phase of our feasibility study, level 3.”
About Sigma Lithium Resources Corporation
Sigma commissioned its Phase I production plant and has commenced the production of battery grade spodumene concentrate from its high-quality deposits. Sigma is developing a world class lithium hard rock deposit with exceptional mineralogy at its Grota do Cirilo property in Brazil.
Sigma’s corporate mission is to execute its strategy while embracing environmental, social, and governance principles. We are on track to become an ultra-high quality spodumene concentrate supplier to the lithium battery industry worldwide. Sigma plans to commence construction of a commercial-scale lithium concentration plant in March 2019. Sigma shareholders include some of the largest ESG (environmental, sustainability, governance) focused institutional investors in the world.
Through its subsidiaries, Sigma has 28 mineral rights in four properties spread over 188 km2 and 18,887 hectares - with over 200 lithium bearing pegmatites and 9 former historical lithium mines. The Grota do Cirilo property, Sigma’s main focus, includes 10 mining concessions (mining production authorizations).
For additional information please contact:
Sigma Lithium Resources Corporation / www.sigmalithiumresources.com
Company Contact:
Ana Cabral
Vice – Chairman
Director of Business Development and Investor Relations
55 11 2985-0089
ana.cabral@sigmaca.com
Investor Contact:
KCSA Strategic Communications
Valter Pinto / Scott Eckstein
(212) 896-1254
Valter@KCSA.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, 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.