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Sigma Lithium Resources Corp.
Summary
| Project: | Grota do Cirilo | |
|---|---|---|
| Deposit: | Grota do Cirilo | |
| Location: | Brazil | |
| Commodities: | Lithium | |
| Date: | 1/10/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-1-2019: Sigma Lithium Resources Corp. announces a Resource Estimation report for its Grota do Cirilo deposit at the Grota do Cirilo project. Updated mineral resource estimate for project. VANCOUVER, British Columbia, Jan. 10, 2019 -- SIGMA Lithium Corp | |
| Resources: | (Resource, M+I): 45.738Mt @ 1.38% Li2O at Grota do Cirilo | |
| CP/QP: | [Resources]: Marc Antoine Laporte (SGS Canada Inc.) | |
| ABSTRACT: | VANCOUVER, British Columbia, Jan. 10, 2019 -- SIGMA Lithium Corporation ("Sigma" or the "Company") (TSX-V: SGMA), (OTC-QX SGMLF) is pleased to announce that an updated mineral resource estimate for its Grota do Cirilo property has been completed by SGS Canada Inc., consisting of measured and indicated resources of 45.7 million tonnes and inferred resource of 6.6 million tonnes. 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 effective date of these estimates is January 6th, 2019. Sigma is currently preparing a new National Instrument 43-101 technical report with SGS Canada Inc., which will include the updated mineral resource estimates. During the second half of 2018, Sigma conducted a diamond drilling campaign of 30,000 meters to delineate four of Sigma’s eleven priority mineral deposits, namely: Xuxa, Barreiro, Murial and Lavra do Meio. The successful results led Sigma to drill an additional ~6,000 meters in November and December, to a campaign total of ~36,000 meters. Sigma is also currently proceeding with a definitive feasibility study level three (“DFS”) for the Xuxa deposit by the end of April 2019. If the DFS corroborates Sigma’s expectations, Sigma will contemplate an annual production rate of 240,000 tonnes of battery-grade spodumene concentrate. Based on this increased mineral resource estimates, Sigma believes that there will be significant potential to economically expand production capacity. It would be Sigma’s intention to carry out a feasibility study for the Barreiro deposit as a first step towards then increasing production capacity to 440,000 tonnes per year in the future (see press release of November 27, 2018). | |
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