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Sigma Lithium Corporation (NASDAQ: SGML) has announced an update on its exploration program, revealing a potential increase in its total mineral resource estimate to 110 Mt. The company’s exploration program, conducted in collaboration with SGS Canada, includes initial mineral resource potential for Phase 4 and plans for an accelerated exploration program.
CEO Ana Cabral stated, ‘Our successful exploration campaign positions Sigma Lithium as a global leader in lithium production. Our mineral resource estimates potentially surpass 110 million tonnes of open pit deposits, highlighting our strategic relevance in global supply chains for EV battery decarbonization.’
The company’s exploration results indicate a further potential increase in the company’s mineral resource. Phase 4 of the exploration program focused on the Murial South and Lavra do Meio deposits, which could be mined as an open pit if deemed economically viable. Initial assay results from the Tamboril and Maxixe deposits suggest that the mineralization encountered is directly related to the Phase 3 mine.
As part of the Exploration Program, Sigma Lithium has also identified additional pegmatites that could potentially yield up to 20 Mt of incremental mineral resource in a potential Phase 5. The company has increased its exploration efforts in an Accelerated Program, with 8 core diamond drills currently operating in the Grota do Cirilo region.
Sigma Lithium’s Phase 4 deposits are in the Cirilo Grota region, in the same continuous mineralization line to the Phase 2 and Phase 3 deposits. The Phase 4 pegmatite dikes run parallel to those defined at the Phases 2 and 3 deposits.
About Sigma Lithium: Sigma Lithium (NASDAQ: SGML) is a leading global lithium producer dedicated to powering the next generation of electric vehicle batteries with carbon neutral, socially and environmentally sustainable chemical-grade lithium concentrate.
Company Website: https://www.sigmalithiumresources.com
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