– All metallurgical test work targets exceeded –
– Heavy Liquid Separation (HLS) with a very high grade of 7.22% Li2O –
Belo Horizonte, Brazil–(Newsfile Corp. – April 24, 2023) – Atlas Lithium Corporation (NASDAQ:ATLX) (“Atlas Lithium” or the “Company”) is pleased to announce receipt of the final metallurgical report (the “Metallurgical Report”) from SGS Canada Inc. (“SGS”) for studies performed over several months on a representative ore sample from the Company’s 100%-owned Neves Project, located in the state of Minas Gerais in Brazil (the “Neves Project”). The Metallurgical Report shows a very high grade of 7.22% was achieved for Heavy Liquid Separation (“HLS”),. Commercial-grade lithium concentrate was obtained using standard Dense Media Separation (“DMS”), a gravity-based approach which does not use any harmful chemicals or flotation. The Metallurgical Report also shows final lithium concentrate grading of 6.04% Li2O with only 0.53% Fe2O3, and a lithium recovery of 70%. The initial metallurgical target was the production of concentrate grading 6.0% Li2O with less than 1.0% Fe2O3, and these targets were exceeded. SGS has been providing testing and analytical services to the mining industry since 1941 and has earned the reputation as the leading provider of bankable metallurgical services.
Marc Fogassa, Atlas Lithium’s Chairman and Chief Executive Officer, commented: “Atlas Lithium is advancing well towards our goal of becoming a leading provider of lithium concentrate. These excellent metallurgical results by SGS show highly effective separation, high recovery rates, and negligeable impurities using standard, environmentally-friendly DMS techniques.”
The Metallurgical Report will become a chapter in the forthcoming mineral resource report for the Neves Project under the guidelines of Regulation SK 1300. These results allow SGS to begin work towards a Preliminary Economic Assessment which is expected to be issued approximately two months after the resource report.
