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Atlas Lithium Advances Plans for Lithium Concentrate Plant
Belo Horizonte, Brazil--(Newsfile Corp. - June 20, 2023) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or "Company"), a leading mineral exploratio
About this update from Atlas Lithium Corporation
[{"type":"text","content":" Belo Horizonte, Brazil--(Newsfile Corp. - June 20, 2023) - Atlas Lithium Corporation (NASDAQ: ATLX) (\"Atlas Lithium\" or \"Company\"), a leading mineral exploration company, is pleased to announce that it has engaged technical consultants for the infrastructure planning and design of its intended facility (\"Plant\") to process lithium-containing ore and produce battery-grade lithium concentrate, a sought-after product within the global battery supply chain. Such progress was made possible due to the Company obtaining strong metallurgical results, as described below. The Plant, originally intended for a production capacity of 150,000 tons per year (tons per annum, or tpa), is now being projected for production of up to 300,000 tpa of lithium concentrate. As reported on the Company's Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (\"SEC\") on May 15, 2023, Atlas Lithium has received a detailed metallurgical report (\"Metallurgical Report\") from SGS Canada, Inc. (\"SGS\"), a well-known and independent third-party, for studies performed over several months at the SGS Lakefield facility (\"SGS Lakefield\"), on a lithium-containing ore sample from the Company's Neves Project. SGS Lakefield has been providing testing and analytical services to the mining industry since 1941 and has earned the reputation as a leading provider of metallurgical services. The Metallurgical Report noted a high grade of 7.22% with Heavy Liquid Separation (\"HLS\"), and commercial-grade lithium concentrate was achieved using standard Dense Media Separation (\"DMS\"), a gravity-based approach which does not use harmful chemicals or flotation. Final lithium concentrate grading of 6.04% Li2O was obtained with low impurities (only 0.53% Fe2O3,), and a lithium recovery of 70%. The Metallurgical Report will be issued as a chapter in the maiden resource report being prepared by SGS in accordance with Subpart 1300 of Regulation S-K promulgated by the SEC (\"Regulation S-K 1300\"). Marc-Antoine Laporte, a Qualified Person for lithium under Regulation S-K 1300, is preparing such report for SGS. Prior to construction of the Plant, Atlas Lithium anticipates receiving a feasibility study prepared by outside experts. The aforementioned technical reports are standard steps taken as part of the progression from the mineral exploration ph...