Atlas Lithium discovers new spodumene bearing pegmatite in step-out drilling west of the current 2,3-kilometer pegmatite trend.
Atlas Lithium Corporation (NASDAQ: ATLX) announce a new mineralized shallow pegmatite discovery as a result of step-out drilling west of the Company’s flagship 2.3-kilometer Anitta pegmatite trend.
This new lithium-bearing spodumene area has been named Anitta 4 and is located within the Neves Project, a cluster of four lithium mineral rights that are part of Atlas Lithium’s 100%-owned Minas Gerais Lithium Project (“MGLP”) in Brazil’s Lithium Valley, an established hard-rock lithium producing jurisdiction.
This new discovery yielded visually identifiable mineralized spodumene intersects with coarse, large crystals (Figure 1) consistent with what is generally considered to be high-quality for processing to produce lithium concentrate.
Further exploration will focus on resource delineation of Anitta 4 which is open to the north, to the south, and at depth as the ore body is believed by our geology team to represent a larger trend, consistent with regional geology characteristics seen to date.
In Anitta 4, drill hole DHAB-290 intersected mineralized spodumene starting at 170 meters depth with a cumulative spodumene intersect length of 43.65 meters. Drill hole DHAB-289 yielded a cumulative total of 18.65 meters of mineralized spodumene starting at only 70 meters depth. For the above intersects, assays are pending.
Marc Fogassa, Atlas Lithium’s CEO and Chairman, commented:
I’m thrilled that our efforts have identified Anitta 4, a new spodumene-bearing zone within the Neves Project.
“The results so far indicate it to be another mineralized zone sufficiently close to the surface and therefore potentially amenable to open pit mining.”
Nick Rowley, VP of Business Development, added:
The announcement today is yet another important step in expanding resources that can be mined economically.
“Our goal is to become a low-cost, high-quality lithium concentrate producer by mid-2025.”
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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. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite.
The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).
HIGHLIGHTS
- This new mineralized shallow pegmatite has been named Anitta 4
- Drill hole DHAB-289 in Anitta 4 yielded a cumulative total of 18.65 meters of mineralized spodumene starting at only 70 meters depth
- Drill hole DHAB-290 in Anitta 4 intersected mineralized spodumene starting at 170 meters depth with a cumulative spodumene intersect length of 43.65 meters
- Multiple additional new targets identified for further drilling
- Discovery could represent a larger trend consistent with regional geology characteristics
ATLAS LITHIUM DISCOVERS NEW SPODUMENE BEARING PEGMATITE IN STEP-OUT DRILLING WEST OF THE CURRENT 2.3-KILOMETER PEGMATITE TREND, Boca Raton, Florida, September 20, 2023
