Sigma Lithium Announces a Potential Increase of Its Mineral Resource Estimate to over 110MT, Amongst Largest Scale Globally Mineral Resource Exploration Program Update
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SIGMA LITHIUM ANNOUNCES A POTENTIAL INCREASE OF
ITS MINERAL RESOURCE ESTIMATE TO OVER 110MT,
AMONGST LARGEST SCALE GLOBALLY
MINERAL RESOURCE EXPLORATION PROGRAM UPDATE
• Sigma announces positive results from its Exploration Program of Phase 4 .
o Expected to represent an approximate 25% potential increase of mineral resource estimate of
Sigma Lithium to 110 million tonnes, placing it amongst the largest scale lithium companies
globally.
• The Company expects to further increase mineral resource resulting from an Accelerated
Plan to drill a Phase 5 and beyond.
o Exploration programs to date have identified up to 20Mt of potential additional mineral
resource in a spodumene bearing pegmatite, which could represent a potential Phase 5.
• Accelerated Plan is expected to unlock significant further potential increase to the Company
mineral resource, with additional exploration drilling of the following targets:
o Remaining five former artisanal mines within Sigma Lithium’s mineral concessions .
o Another 57 out of the 200 mapped pegmatites within the Company’s mineral concessions.
SAO PAULO, BRAZIL – (November 1, 2023) – Sigma Lithium Corporation (“Sigma Lithium” or the
“Company”) (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading global lithium producer
dedicated to powering the next generation of electric vehicles with carbon neutral, responsibly
sourced chemical grade lithium concentrate, is pleased to provide an update on its exploration
program to date, conducted in close coordination with SGS Canada, including initial mineral resource
potential for Phase 4 (“Exploration Program”) and plans for acceleration of the Exploration Program
(“Accelerated Plan”).
The Company expects the results of the Exploration Program could represent an increase of its total
mineral resource estimate to 110 Mt:
o The Company increased the exploration potential of Phase 4 to approximately 26 to 30Mt,
with ore body extensions continuing to the east, based on the drilling results received to
date (Table 1 below).
o This is a significant 25% potential increase to the Grota do Cirilo mineral resource
estimate, delivering further consistent high grade assay results which are to be
incorporated into an updated NI 43-101 compliant technical report expected to be released
in Q4 2023.
Please refer to the Company’s National Instrument 43-101 technical report titled "Grota do Cirilo Lithium
Project Araçuaí and Itinga Regions, Minas Gerais, Brazil, Amended and Restated Technical Report"
issued June 12, 2023 (“Technical Report”), filed on SEDAR and available on the Company’s website.
o The Technical Report has a mineral resource estimate comprised of 77.0 Mt of measured
and indicated mineral resources grading at 1.43% Li2O and 8.6 Mt of inferred mineral
resources grading at 1.43% Li2O.
Ana Cabral, CEO commented: “The incredible success of our exploration campaign establishes Sigma
Lithium as one of the largest lithium companies globally. Sigma is a current large-scale and low-cost
producer but also has mineral resource estimates to potentially surpass 110 million tonnes of open pit
deposits. This scale underscores our strategic relevance to become the foundation of global supply
chains that will deliver the decarbonization of EV batteries.
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“We consistently execute and deliver and by unlocking the NI 43-101 compliant mineral resource
potential of the former artisanal mines in our mineral concessions, we are validating and closing the gap
between the large scale of mineral resources registered within our mineral concessions in our
regulatory body, ANM in Brazil and the NI 43-101.” She concluded.
Significant Further Potential to Increase Mineral Resource
The results to date indicate that a further potential increase to the Company’s mineral resource is
expected to be delivered consistently over time from the following exploration drilling campaigns in an
Accelerated Plan:
• Remaining five former artisanal mines within Sigma Lithium’s mineral concessions to define the
volumes and grades.
• Additional 57 pegmatites (out of the approximately 200 pegmatites mapped) within the
Company’s mineral concessions.
Phase 4 Exploration Program Update
Phase 4 was centered on the Murial South and Lavra do Meio deposits. Both could be mined as an open
pit, if warranted and economically viable based on a Feasibility Study.
• The Exploration Program has significantly increased the size of Murial and Lavra do Meio
deposits to potentially 23 to 26 Mt.
• The Company validated additional pegmatites: Maxixe and Tamboril, further increasing the
total mineral resource potential.
Phase 4 strike extends up to 2.3 km along strike north-south, and the deposits remain open to both the
east and west.
• Phase 4 is in very close proximity to Phase 3 (north of it) and initial drilling indicated potential
connectivity of certain pegmatites (as per the Figures 1 and 2 below); and
• Intersecting high quality spodumene crystals and persistent spodumene-rich zones (Table 1
below).
The maiden resource statements for Murial South and Lavra do Meio were published in January 2019,
and this is the first update to both resources since 2019. The maiden resource for Murial South was
5.6Mt @ 1.14% Li2O M&I with an additional 0.7Mt @ 1.06% Li2O, while Lavra do Meio was 2.3Mt @
1.09% Li2O M&I, with an additional 0.3Mt @ 0.87% Li2O.
Table 1: Phase 4 Pegmatites Exploration Potential At Various Cut-Off Grades(1)
Exploration Zones 2019 M&I 2019 Inferred Lower Range
Tonnage (Mt)
Upper Range
Tonnage (Mt)
Murial South 5.6 0.7 18 20
Lavra do Meio 2.3 0.3 5 6
Tamboril and Maxixe - - 3 4
Total 7.9 1.0 26 30
Note 1: The potential quantity and grade of the lithium mineralization for Murial South, Lavra Do Maio, Maxixe and Tamboril a re conceptual in nature, there has
been insufficient exploration to estimate Mineral Resources and it is uncertain if exploration will confirm the target ranges.
The company is highly encouraged with the initial assay results from the Tamboril and Maxixe deposits
that suggest that the mineralization encountered is directly related to the Phase 3 mine and confirms that
Phase 3 and Phase 4 are a continuous mineralization.
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Further assay results for the completed holes at Maxixe and Tamboril are pending and will be released
once received to produce an updated Mineral Resource Estimate.
Phase 5 and Accelerated Plan
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 is conducting significant exploration RC drilling, trench work and sampling, in 57
mineralized pegmatites (out of the 200 pegmatites mapped within the Company’s mineral
concessions). The Exploration Program defined the surface area and the weathered mineralogy for
these 57 pegmatites. The Accelerated Plan will include drilling exploratory core diamond drill holes into
each of these targets.
The Company increased its exploration efforts in an Accelerated Program: a total of 8 core diamond
drills currently operating in the Grota do Cirilo region with 20,000m planned for the next 7 weeks. The
current drilling priority is to confirm and further extend the size of the pegmatite swarm at the Phase 4
area.
Iran Zan, MAIG, co -Head of Geology and co -General Manager, “Our Phase 4 is the result of the hard
work and relentless commitment of Sigma’s geology team over the last year. The results derived from
these months of drilling activities are impressive, confirming the projections for Phase 4. The exploration
campaign provided an understanding of the connectivity of the pegmatites in the area between Phase 3
and Phase 4. The ore bodies show consistent strike and depth with intercepts, grades, and coarse
spodumene crystal quality. We are very optimistic about the 2.3 km long strike of Phase 4 and its depth
of approximately 300 meters, which is still open to the east.”
Current Mineral Resource and Phase 1, 2 and 3 Results
The Amended and Restated Technical Report from June 12, 2023 shows a Consolidated Mineral
Resource on the Grota do Cirilo property of 77Mt of Measured and Indicated Resources at a grade of
1.43% Li2O and Inferred Resources of 8.6Mt also at a grade of 1.43% Li2O (Table 2).
Tables 3, 4 and 5 show the contribution to the Consolidated Resource from Phases 1, 2 and 3.
Please refer to the Company’s National Instrument 43-101 technical report titled "Grota do Cirilo
Lithium Project Araçuaí and Itinga Regions, Minas Gerais, Brazil, Amended and Restated Technical
Report" issued June 12, 2023, for further information on the Mineral Resource statements.
Table 2: Grota do Cirilo Consolidated Mineral Resource June 2023
Cut-Off Grade (% Li2O) Category Tonnes (Mt) (% Li2O)
0.5% Measured 37.1 1.43%
0.5% Indicated 39.9 1.43%
0.5% Measured & Indicated 77.0 1.43%
0.5% Inferred 8.6 1.43%
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Table 3: Phase 1 Mineral Resource Estimate
CUT-OFF GRADE (%
LI2O) CATEGORY TONNES (MT) (% LI2O)
0.5% Measured 10.2 1.59
0.5% Indicated 7.2 1.49
0.5% Measured & Indicated 17.4 1.55
0.5% Inferred 3.8 1.58
Table 4: Phase 2 Mineral Resource Estimate
CUT-OFF GRADE (%
LI2O) CATEGORY TONNES (MT) (% LI2O)
0.5% Measured 18.7 1.41
0.5% Indicated 6.3 1.30
0.5% Measured & Indicated 25.1 1.38
0.5% Inferred 3.8 1.39
Table 5: Phase 3 Mineral Resource Estimate
CUT-OFF GRADE (%
LI2O) CATEGORY TONNES (MT) (% LI2O)
0.5% Measured 2.4 1.56
0.5% Indicated 24.3 1.48
0.5% Measured & Indicated 26.7 1.49
Detailed Phase 4 Exploration Program
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. Drill testing to date has confirmed that the Phase 4 pegmatites extend to
at least 400 m below surface.
Drilling r esults from the Maxixe and Tamboril deposits have confirmed the presence of spodumene
crystals with assay results confirming substantial intersections of strong lithium mineralization. Significant
results include the following highlight drilling intercepts:
o DH – MAX - 03 1.40% Li2O over 26.0m, including 2.34% Li2O over 9.07 m
o DH - TAM – 10 1.00 % Li2O over 7.03 m, including 1.23% Li2O over 3.00 m
o DH – LDM – 04 1.79% Li2O over 27.61 m, including 3.26% Li2O over 10.00 m
o DH – LDM – 05 1.31% Li2O over 31.85 m, including 1.81% Li2O over 11.29 m
o DH – LDM – 14 1.17% Li2O over 22.83 m, including 2.02% Li2O over 7.81 m
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Figure 1: Phase 4 Deposit Drilling Shows Dense Pegmatite Proximity
Figure 2: Murial South Cross Section with Mineralized Intercepts
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Table 6: Phase 4 Intercept Results
BHID From (m) To (m) Length
(m)
Grade
(Li2O%))
DH-MUR-021 163 198 35 1,39
DH-MUR-027 151 177 26 1,78
DH-MUR-031 142 171 29 1,57
DH-MUR-033 170 192 22 1,32
DH-MUR-034 180 223 43 1,47
DH-MUR-034 234 244 9 1,79
DH-MUR-039 225 245 20 1,38
DH-MUR-055 174 190 16 1,22
DH-MUR-060 114 122 8 1,6
DH-MUR-091 284 295 11 1,28
DH-MUR-112 251 285 34 1,62
DH-MUR-114 194 218 24 1,7
DH-MUR-132 213 227 15 1,44
DH-MUR-206 214 246 32 1,27
DH-MUR-184 145 150 6 1,19
QUALITY ASSURANCE AND CONTROL
Diamond drilling samples were collected and sent to the SGS -Geossol laboratory. All diamond drilling
core samples submitted for assay were saw cut with one-half supplied for assay and one-half archived
for reference. The physical preparation follows the steps: drying, crushing of 75% to 3mm,
homogenization, splitting of J ones, and pulverization of 100g in a Tungsten carbide pan until 150
meshes with 95% of passing pulp. In 5% of the samples, the control of particle size and loss of mass is
carried out in the crushing and pulverization stages (QCgranul and QCloss of mass). The analytical
method adopted was ICP90A, carrying out the sodium peroxide (Na2O2) fusion and ICP AES. Samples
with the content of Li2O% > 3.225 (over -limit for ICP90A) were reanalyzed by ICP90Q, consisting of
sodium peroxide (Na2O2) fusion in concentrates (ICP AES).
Sampling was carried out following strict QA/QC procedures. Certified reference materials (standards)
were inserted into the sample stream. Blanks AMIS0577, AMIS0484, and AMIS0865 were submitted
at a rate of 1 per 29 samples and introduced preferentially a t upper or lower contacts of the main
pegmatitic intercepts. Standards AMIS0341, AMIS0342, AMIS0565, and AMIS0408 were inserted at
the same rate as blanks, mostly within the pegmatite intervals. In addition, QC controls were added
preferably in pegmatite s amples with a satisfactory content of Li2O%, enough to make a fair
comparison between the original samples and controls. Coarse and pulp duplicates were injected at a
rate of 1 per 40 samples, while the check samples were at a rate of 1 per 20 samples. All check samples
were dispatched to a second laboratory analysis and sent to ALS in Vancouver. The ALS results were
compared with the SGS-Geosol results to verify the reliability of the primary laboratory results.
QUALIFIED PERSONS
The technical and scientific information related to mineral resource estimates in this news release has
been reviewed and approved by Marc-Antoine Laporte P.Geo., M.Sc., of SGS. Mr. Laporte is a Qualified
Person as defined by National Instrument 43-101 and is independent of Sigma Lithium.
The mining and mineral reserve estimates in this news release have been reviewed and approved by
Porfirio Cabaleiro Rodriguez P.Eng, Mining Engineer of GE21 Consultoria Mineral Brazil. Mr. Rodriguez
is a Qualified Person as defined by National Instrument 43-101 and is independent of Sigma Lithium.
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The technical information in this news release , including statements regarding geology and potential
mineral resources, has been elaborate d by Iran Zan MAIG (Membership number 7566) , Director of
Geology and exploration department of Sigma Lithium , Mr Iran Zan is a Qualified Person internal of
Sigma Lithium corporation.
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, TSXV: SGML , BVMF: S2GM34 ) 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.
Sigma Lithium has been at the forefront of environmental and social sustainability in the EV battery
materials supply chain for six years and it is currently producing Triple Zero Green Lithium from its Grota
do Cirilo Project in Brazil. Phase 1 of the pro ject is expected to produce 270,000 tonnes of Triple Zero
Green Lithium annually (36,700 LCE annually). If it is determined to proceed after completion of an
ongoing feasibility study, Phase 2 & 3 of the project are expected to increase production to 766,0 00
tonnes annually (or 104,200 LCE annually). The project produces Triple Zero Green Lithium in its state -
of-the-art Greentech lithium plant that uses 100% renewable energy, 100% recycled water and 100%
dry-stacked tailings.
Please refer to the Company’s National Instrument 43-101 technical report titled "Grota do Cirilo Lithium
Project Araçuaí and Itinga Regions, Minas Gerais, Brazil, Amended and Restated Technical Report"
issued June 12, 2023, which was prepared for Sigma Lithium by Homero Delboni Jr., MAusIMM, Promon
Engenharia; Marc -Antoine Laporte, P.Geo, SGS Canada Inc; Jarrett Quinn, P.Eng., Primero Group
Americas; Porfirio Cabaleiro Rodriguez, (MEng), FAIG, GE21 Consultoria Mineral; and Noel O'Brien, B.E.,
MBA, F AusIMM (the “Updated Technical Report”). The Updated Technical Report is filed on SEDAR and
is also available on the Company’s website.
For more information about Sigma Lithium, visit https://www.sigmalithiumresources.com/
FOR ADDITIONAL INFORMATION PLEASE CONTACT
Jamie Flegg, Director, Business Development
+1 (647) 706-1087
Daniel Abdo, Director, Investor Relations
+55 11 2985-0089
Sigma Lithium
Sigma Lithium
@sigmalithium
@SigmaLithium
FORWARD-LOOKING STATEMENTS
This news release includes certain "forward -looking information" under applicable Canadian and U.S. securities
legislation, including but not limited to statements relating to timing and costs related to the general business and
operational outlook of the Company, the environmental footprint of tailings and positive ecosystem impact relating
thereto, donation and upcycling of tailings, timing and quantities relating to tailings and Green Lithium, achievements
and projections relating to the Zero Tailings strategy, achievement of ramp-up volumes, production estimates and the
operational status of the Grot a do Cirilo Project, and other forward -looking information. All statements that address
future plans, activities, events, estimates, expectations or developments that the Company believes, expects or
anticipates will or may occur is forward-looking information, including statements regarding the potential development
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of mineral resources and mineral reserves which may or may not occur. Forward -looking information contained herein
is based on certain assumptions regarding, among other things: general economic and political conditions; the stable
and supportive legislati ve, regulatory and community environment in Brazil; demand for lithium, including that such
demand is supported by growth in the electric vehicle market; the Company’s market position and future financial and
operating performance; the Company’s estimates of mineral resources and mineral reserves, including whether mineral
resources will ever be developed into mineral reserves; and the Company’s ability to operate its mineral projects
including that the Company will not experience any materials or equipment shortages, any labour or service provider
outages or delays or any technical issues. Although management believes that the assumptions and expectations
reflected in the forward -looking information are reasonable, there can be no assurance that these assum ptions and
expectations will prove to be correct. Forward -looking information inherently involves and is subject to risks and
uncertainties, including but not limited to that the market prices for lithium may not remain at current levels; and the
market for electric vehicles and other large format batteries currently has limited market share and no assurances can
be given for the rate at which this market will develop, if at all, which could affect the success of the Company and its
ability to develop lithi um operations. There can be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to
update or revise any forward -looking information, whether because of new information, future events or otherwise,
except as required by law. For more information on the risks, uncertainties and assumptions that could cause our actual
results to differ from current expectations, please refer to the current annual information form of the Company and
other public filings available under the Company’s profile 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.