October 9, 2018 - 4:49 PM EDT
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Sigma Lithium Ships Battery Grade Lithium Concentrate Samples to Potential Long Term Off-Take Partners

Drilling Program Update Includes Lithium Ore Assays with Ultra High Grade of 6.15% Li2O

VANCOUVER, British Columbia, Oct. 09, 2018 (GLOBE NEWSWIRE) -- SIGMA Lithium Corporation ("Sigma" or the "Corporation") (TSX-V: SGMA) is pleased to announce the shipment of high quality coarse lithium concentrate samples with an average grade of 6.27% Li2O and a size of 9.3mm to potential long term off-take partners in Asia for validation. The samples reflect the high quality of Sigma’s spodumene concentrate, including its low impurities, specifically low levels of alkaline elements at 0.76% in the form of sodium oxide plus potassium oxide and low levels of iron at 0.79% as iron oxide.

Shipping these samples represents a significant milestone for Sigma. Analysis and validation by significant customers of the high-quality nature of Sigma’s lithium spodumene concentrate produced by the phase I production plant is an essential part of the process of setting up long-term off-take relationships. Sigma is on schedule to “break ground” for the construction of a larger commercial scale lithium concentrate production plant in 1Q19. 

“The high quality of our spodumene concentrate reinforces the significance of this project,” said Calvyn Gardner, CEO of Sigma.  “Sigma’s relevance has been recognized in our ongoing discussions with potential off-take customers. We have received overwhelming interest from key potential customers, including offers to potentially contribute towards capex financing in exchange for off-take agreements to secure long term supply of our lithium concentrate. Such positive indications clearly reflect that Sigma is viewed as a potentially large and reliable source of high-quality lithium concentrate for many years to come.”

Sigma is also pleased to provide updated assay results from its ~30,000m diamond drilling campaign on the lithium deposits at its Grota do Cirilo Property. The project’s lithium resources are expected to significantly increase from 13.5 million to at least 37 million tonnes, as previously identified in Sigma’s existing National Instrument 43-101 (“NI 43-101”) independent technical report filed earlier in 2018.

Areas of exceptional grades were identified from the assays of certain drill holes, with the exceptional lithium spodumene ore grades ranging from 5.16% to 6.15% Li2O, as per the examples below:

  • Xuxa Drill Hole 90:  5.16% of Li2O over 1 meter
  • Barreiro Drill Hole 63: 5.59% of Li2O over 1 meter
  • Lavra do Meio Drill Hole 4: 6.15% Li2O over 1 meter

Mr. Gardner added, “Our Grota do Cirilo Property in Brazil is truly unique. Our assays of spodumene ore have been confirming grades so exceptional that they already meet battery grade level of 6% LiO2 while still at the ore stage. In other words, without even running through the processing plant to concentrate the spodumene, Sigma’s ore from certain areas reaches the battery grade Li2O levels in the lithium concentrate.”

Drill Results for September 2018 on Grota do Cirilo Lithium Property
In late May 2018, Sigma commenced a diamond (HQ core) drilling campaign to extend and develop the existing Grota do Cirilo spodumene lithium mineral resource. The very positive results obtained thus far have led us to increase the amount of drilling to ~36,000m from the original ~30,000m. This campaign is 80% complete and it is going to be the basis for a revised mineral resource estimate, to be prepared by SGS Canada Geostat (“SGS”), which is expected to be finalized by the end of 2018.

The status of drilling assays received since the previous assay results release on September 13, 2018 for three of the lithium deposits (Xuxa, Barreiro and Murial) are as follows:

1.       Xuxa

  • Sigma has received 100% of the assay results.
  • The average grade of Xuxa is estimated at 1.5% Li2O. The average thickness of the deposit is estimated to be 15 meters.
  • The summary of the drilling is as follows:
 YearNumber of
Holes
Total Meters
Drilled (m)
  
 2018256,029  
 2017657,796  
 Total9013,825  
  • Highlights from the Xuxa assays are:
    • 12.2m at 1.78% Li2O from 170m to 182m interval (drill hole DH-Xuxa - 75)
    • 13.2m at 1.68% Li2O from 243m to 256m interval (drill hole DH-Xuxa - 77)
    • 20.16m at 1.84% Li2O from 203m to 223m (drill hole DH-Xuxa - 88)
    • 59.9m at 1.72% Li2O from 293m to 353m (drill hole DH-Xuxa - 90)

2.       Barreiro:

  • Sigma has received 80% of the assay results.
  • The average grade of Barreiro is estimated at 1.4% Li2O. The average thickness of the deposit is estimated to be 31 meters.
 YearNumber of
oles
Total Meters
Drilled (m)
  
 20188715,677  
 20176426  
 Total9316,103  
  • Highlights from the Barreiro assays are:
    • 35.9m at 1.52% Li2O from 228m to 264m (drill hole DH-Bar-45)
    • 29.4m at 1.64% Li2O from 90m to 119m (drill hole DH-Bar-46)
    • 33.1m at 1.68% Li2O from 47m to 80m (drill hole DH-Bar-47)
    • 33.0m at 1.53% Li2O from 86m to 119m (drill hole DH-Bar 48)
    • 23.4m at 1.56% Li2O from 61m to 85m (drill hole DH-Bar 54)
    • 83.0m at 1.01% Li2O from 196m to 279m (drill hole DH-Bar 63)
    • 30.9m at 1.88% Li2O from 100m to 131m (drill hole DH-Bar 65)
    • 31.9m at 1.74% Li2O from 218m to 249m (drill hole DH-Bar 66)
    • 18.0m at 1.88% Li2O from 124m to 142m (drill hole DH-Bar 67)
    • 19.7m at 1.62% Li2O from 108m to 130m (drill hole DH-Bar 72)
    • 49.5m at 1.83% Li2O from 168m to 217m (drill hole DH-Bar 73)

3.       Murial:

  • Sigma has received 96% of the assay results.
  • The average grade of Murial is estimated at 1.1% Li2O. The average thickness of the deposit is estimated to be 21 meters.
 YearNumber of
Holes
Total Meters
Drilled (m)
  
 2018243,911  
 20171119  
 Total254,030  
  • Highlights from the Murial assays are:
    • 37.6m at 1.2% Li2O from 84m to 122m (drill hole DH -Mur-6)
    • 39.6m at 1.06% Li2O from 81m to 104m (drill hole DH-Mur-9)
    • 30.5m at 1.05% Li2O from 157m to 187m (drill hole DH-Mur-11)
    • 23.9m at 1.07% Li2O from 129m to 153m (drill hole DH-Mur-14)
    • 22.2m at 1.01% Li2O from 128m to 150m (drill hole DH-Mur-1)

The following table sets out the latest assay results received since the previous assay results release on September 13, 2018:

Name of DepositDrill Hole IDDepth and Thickness (meters)Type of
Geology
Grade
(Li2O %
Average)
FromToThickness of
Orebody (1)
BarreiroDH-BAR-45227.7263.635.9PG_Li1.52
BarreiroDH-BAR-4689.9119.229.4PG_Li1.64
BarreiroDH-BAR-4746.980.033.1PG_Li1.68
BarreiroDH-BAR-4886.1119.133.0PG_Li1.53
BarreiroDH-BAR-48128.9131.32.4PG_Li1.16
BarreiroDH-BAR-48138.6150.111.6PG_Li1.58
BarreiroDH-BAR-50144.0200.556.1PG_Li1.36
BarreiroDH-BAR-5120.037.517.5PG_Li1.23
BarreiroDH-BAR-5273.7107.734.0PG_Li1.44
BarreiroDH-BAR-5330.742.812.1PG_Li0.82
BarreiroDH-BAR-5433.236.12.9PG_Li0.14
BarreiroDH-BAR-5461.484.823.4PG_Li1.56
BarreiroDH-BAR-5516.525.99.5PG_Li0.56
BarreiroDH-BAR-5526.535.28.8PG_Li0.71
BarreiroDH-BAR-5616.525.99.5PG_Li0.55
BarreiroDH-BAR-5626.535.28.8PG_Li0.71
BarreiroDH-BAR-5725.662.136.5PG_Li1.14
BarreiroDH-BAR-5884.887.33.0PG_Li0.43
BarreiroDH-BAR-5897.399.01.8PG_Ab_Q0.12
BarreiroDH-BAR-58118.8161.642.8PG_Li1.46
BarreiroDH-BAR-5950.876.125.3PG_Li1.26
BarreiroDH-BAR-6012.539.326.9PG_Li0.51
BarreiroDH-BAR-6181.0110.640.0PG_Li1.41
BarreiroDH-BAR-6241.845.33.5PG_Ab_Q0.11
BarreiroDH-BAR-6257.158.31.3PG_Ab_Q0.04
BarreiroDH-BAR-6259.161.12.0PG_Ab_Q0.03
BarreiroDH-BAR-63150.0153.43.4PG_Ab_Q0.08
BarreiroDH-BAR-63158.3159.61.3PG_Ab_Q0.12
BarreiroDH-BAR-63165.5172.06.6PG_Li1.39
BarreiroDH-BAR-63172.8184.511.5PG_Li1.14
BarreiroDH-BAR-63184.8195.511.3PG_Li1.50
BarreiroDH-BAR-63196.0279.083.0PG_Li1.01
BarreiroDH-BAR-63282.0308.626.6PG_Li0.64
BarreiroDH-BAR-63317.8336.518.7PG_Li0.86
BarreiroDH-BAR-64108.6126.818.2PG_Li0.90
BarreiroDH-BAR-65100.2131.130.9PG_Li1.88
BarreiroDH-BAR-66217.6249.531.9PG_Li1.74
BarreiroDH-BAR-67124.1142.218.0PG_Li1.88
BarreiroDH-BAR-67144.5145.61.1PG_Li0.05
BarreiroDH-BAR-6880.794.513.8PG_Li1.27
BarreiroDH-BAR-6918.119.21.1PG_Ab_Q0.00
BarreiroDH-BAR-6940.460.620.2PG_Li1.14
BarreiroDH-BAR-7086.691.14.5PG_Ab_Q0.81
BarreiroDH-BAR-70101.6113.111.5PG_Li1.26
BarreiroDH-BAR-70117.5124.57.1PG_Li1.46
BarreiroDH-BAR-7172.784.712.0PG_Li0.81
BarreiroDH-BAR-72108.2129.919.7PG_Li1.62
BarreiroDH-BAR-72128.5130.11.6PG_Ab_Q0.64
BarreiroDH-BAR-72130.7132.92.2PG_Ab_Q0.36
BarreiroDH-BAR-72134.2138.03.9PG_Ab_Q0.80
BarreiroDH-BAR-73139.6140.91.3PG_Ab_Q0.03
BarreiroDH-BAR-73168.0217.649.6PG_Li1.83
BarreiroDH-BAR-7436.946.59.7PG_Li0.66
MurialDH-MURIAL-07122.8119.26.8PG_Ab_Q0.09
MurialDH-MURIAL-07212.3214.92.5PG_Li0.81
MurialDH-MURIAL-08161.5167.66.1PG_Li0.75
MurialDH-MURIAL-0981.5104.439.6PG_Li1.06
MurialDH-MURIAL-1067.669.62.0PG_Ab_Q0.01
MurialDH-MURIAL-10101.0104.43.4PG_Ab_Q0.01
MurialDH-MURIAL-11156.8187.430.5PG_Li1.05
MurialDH-MURIAL-1247.160.313.2PG_Li0.48
MurialDH-MURIAL-1372.195.923.8PG_Li0.76
MurialDH-MURIAL-14129.2153.223.9PG_Li1.07
MurialDH-MURIAL-1541.348.26.9PG_Ab_Q0.00
MurialDH-MURIAL-1567.180.313.2PG_Li1.12
MurialDH-MURIAL-1623.740.814.2PG_Li0.18
MurialDH-MURIAL-1770.271.81.6PG_Ab_Q0.01
MurialDH-MURIAL-17128.2150.422.2PG_Li1.01
MurialDH-MURIAL-1825.431.35.9PG_Ab_Q0.04
MurialDH-MURIAL-1874.876.01.2PG_Ab_Q0.04
MurialDH-MURIAL-1885.990.54.7PG_Ab_Q0.07
XuxaDH-XUX-76101.3112.110.8PG_Ab_Q0.23
XuxaDH-XUX-76149.9156.36.4PG_Li0.81
XuxaDH-XUX-76191.4195.54.1PG_Li1.91
XuxaDH-XUX-76196.4197.00.5PG_Li1.35
XuxaDH-XUX-76207.0207.70.7PG_Li1.25
XuxaDH-XUX-76209.6213.64.0PG_Li1.63
XuxaDH-XUX-76215.2219.44.3PG_Li0.41
XuxaDH-XUX-76222.7227.34.6PG_Li1.45
XuxaDH-XUX-76233.5234.10.6PG_Li0.74
XuxaDH-XUX-77211.2213.22.1PG_Li1.87
XuxaDH-XUX-77243.2256.413.2PG_Li1.68
XuxaDH-XUX-78210.0218.68.1PG_Li2.06
XuxaDH-XUX-78218.7221.42.6PG_Li1.22
XuxaDH-XUX-78222.322.80.5PG_Li1.73
XuxaDH-XUX-78223.8231.57.8PG_Li1.71
XuxaDH-XUX-78248.0248.70.7PG_Li0.04
XuxaDH-XUX-78269.2271.01.8PG_Li0.74
XuxaDH-XUX-7978.680.41.7PG_Li1.16
XuxaDH-XUX-7997.4104.97.5PG_Li1.35
XuxaDH-XUX-80195.0196.51.5PG_Li1.26
XuxaDH-XUX-80197.0200.23.2PG_Li2.30
XuxaDH-XUX-80202.6205.01.6PG_Li1.45
XuxaDH-XUX-80206.1207.11.0PG_Ab_Q0.41
XuxaDH-XUX-80209.7210.21.1PG_Li0.35
XuxaDH-XUX-81160.6162.72.1PG_Li1.28
XuxaDH-XUX-82207.7216.38.5PG_Li1.13
XuxaDH-XUX-82224.5225.91.4PG_Li0.81
XuxaDH-XUX-82242.0244.32.3PG_Ab_Q0.45
XuxaDH-XUX-83175.7183.17.4PG_Li1.41
XuxaDH-XUX-8434.337.93.6PG_Ab_Q0.85
XuxaDH-XUX-85195.4209.213.8PG_Li1.33
XuxaDH-XUX-8648.952.13.2PG_Ab_Q1.04
XuxaDH-XUX-87271.8273.41.5PG_Li1.35
XuxaDH-XUX-87292.8294.31.5PG_Li1.30
XuxaDH-XUX-87294.9296.21.3PG_Li1.40
XuxaDH-XUX-88202.7222.920.2PG_Li1.84
XuxaDH-XUX-88223.4227.03.6PG_Li1.63
XuxaDH-XUX-90273.6285.411.8PG_Li1.58
XuxaDH-XUX-90293.3353.259.9PG_Li1.72

(1) The intervals reported in this table represent drill intercepts and insufficient data is available at this time to state the true thickness of the mineralized intervals

Quality Control
QA/QC program involving blank samples (4% of the sampling stream), standard samples (4% of the sampling stream) and field duplicates (6% of the sampling stream) has been established during sampling. A further 6% of the mineralized samples will also be sent to the ALS Laboratory in Vancouver, British Columbia for pulp duplicates once the campaign is over. All assays are analyzed at SGS’s Belo Horizonte laboratory using a multi-elements peroxide fusion ICP-AES on half-core 1 kg sample selected by geologist.

About Sigma Lithium Corp.
Sigma Lithium Corporation is developing a world class lithium hard rock deposit with high grade and exceptional mineralogy at its Grota do Cirilo property in Minas Gerais Brazil. Sigma commissioned its Phase I production plant and has commenced the production of battery grade spodumene concentrate from its high-quality deposits. Sigma’s corporate mission is to execute its strategy while embracing environmental, social, and governance principles. The Corporation is on track to become an ultra-high quality spodumene concentrate supplier to the lithium battery industry worldwide.

Sigma shareholders include some of the largest ESG (environmental, sustainability, governance) focused institutional investors in the world. Sigma plans to commence construction of a commercial-scale lithium concentration plant in 2019, becoming a fully-operational sustainable lithium producer in 2020.

Sigma, through its subsidiaries, has 28 mineral rights in four properties spread over 188 km2 and 18,887 hectares - with over 200 lithium bearing pegmatites and 11 former historical lithium mines. The Grota do Cirilo property, Sigma’s primary focus, includes 10 mining concessions (mining production authorizations).

Sigma has a NI 43-101 technical report on the Grota do Cirilo property prepared by SGS, which includes estimated measured and indicated resources of approximately 12,900,000 tonnes for its main deposit (8,502,000t measured and 4,385,000t indicated), with a high average grade of 1.56% (for approximately 500,000t of LCE). The technical report also includes estimated inferred resources of 608,348t and further notes the potential for significant resource expansion.

Qualified Person
The resources estimates in this news release are included in (and the estimated LCE is derived from the resource estimates included in) the technical report titled “Technical Report Northern and Southern Complexes Project, Araçuai and Itinga, Brazil, Sigma Lithium Resources Inc.” which has an effective date of January 29, 2018 and was prepared by Marc-Antoine Laporte, P.Geo, M.Sc. of SGS. Mr. Laporte is a qualified person as defined by NI 43-101 and is independent of Sigma.  The report is available at www.sedar.com. Mr. Laporte has also reviewed and approved the scientific and technical information in this news release.

For additional information please contact:

Sigma Lithium Resources Corporation / www.sigmalithiumresources.com

Company Contact:
Ana Cabral
Vice – Chairman
Director of Business Development and Investor Relations
55 11 2985-0089
[email protected]

Investor Contact:
KCSA Strategic Communications
Valter Pinto / Scott Eckstein
(212) 896-1254
[email protected]

 

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements relating to the objectives of the Corporation, the potential for increased resources, concentration plant construction, achieving sustainable production and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the state of the economy in general and capital markets in particular, and investor interest in the business and future prospects of Sigma.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, Sigma disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Sigma undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

The key risks and uncertainties that could cause actual results or the material factors and assumptions applied in preparing forward-looking information to differ materially from predictions, forecasts, projections, expectations or conclusions are discussed in the “Risk Factors” section of Sigma’s Filing Statement dated April 25, 2018.  We caution that the foregoing list is not exhaustive of all possible factors.

For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to our public filings available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

 

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Source: GlobeNewswire (October 9, 2018 - 4:49 PM EDT)

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