Business
Atlas Lithium Subsidiary Begins Quartzite Production
Belo Horizonte, Brazil--(Newsfile Corp. - June 13, 2023) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or the "Company") is pleased to announce th
About this update from Atlas Lithium Corporation
[{"type":"text","content":" Belo Horizonte, Brazil--(Newsfile Corp. - June 13, 2023) - Atlas Lithium Corporation (NASDAQ: ATLX) (\"Atlas Lithium\" or the \"Company\") is pleased to announce that its subsidiary Jupiter Gold Corporation (\"JGC\") has initiated production of quartzite from its quarry located in the state of Minas Gerais in Brazil. Marc Fogassa, the CEO and Chairman of Atlas Lithium and JGC, commented: \"We are extremely pleased with this development, which is a culmination of a multi-year effort that endowed us with the experience of taking a mining project from discovery and exploration to production.\" On May 2, 2023, Atlas Lithium received a US$20M non-dilutive investment from Lithium Royalty Corporation (\"LRC\"), an experienced institutional investor in lithium companies. LRC's press release announcing the transaction with Atlas Lithium noted that \"the same domestic team that led an Atlas subsidiary to receive its operational permit successfully and expeditiously for a quartzite project will oversee the permitting for the Das Neves project.\" Neves is a lithium project 100%-owned by the Company and located in Brazil's Lithium Valley. Photos of the initial quartzite block retrieved by JGC follow in this release. Figure 1: Initial quartzite block produced by JGC Figure 2: Detail of the initial quartzite block produced by JGC About Atlas Lithium Corporation Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil's Lithium Valley, a well-known lithium district in the state of Minas Gerais. The Company's exploration of mineral rights for lithium cover approximately 308 km2 and are located primarily in Brazil's Lithium Valley. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel (222 km2), rare earths (122 km2), titanium (89 km2), and graphite (56 km2). The Company also owns approximately 45% of Apollo Resources Corp. (private company; iron) and approximately 28% of Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite). Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of ...