web analytics
4.7 C
Munich
Tuesday, November 29, 2022

Atlas Lithium Corporation (OTCQB: ATLX) Steady Run Northbound as Minas Gerais Lithium Project Gains Traction

Atlas Lithium Corporation (OTCQB: ATLX) is making a move northbound after the new Company recently changed its name and ticker from Brazil Minerals (BMIX). ATLX is started to get noticed for its significant land position located right next to Sigma Lithium currently trading for $35 per share on the Nasdaq. Last week the Company announced Atlas Lithium Corporation (OTCQB: ATLX) is the new corporate name and ticker symbol of Brazil Minerals, Inc. (OTCQB: BMIX) (prior symbol: BMIX). This change, first announced in July 2022, helps better reflect the Company’s lithium focus 

As per the last press release from ATLX: “Atlas Lithium is currently advancing and developing its 100%-owned hard-rock lithium project which consists of 52 mineral rights spread across 56,078 acres (227 km2), located primarily in and around the municipality of Araçuaí in the Jequitinhonha Valley region of Minas Gerais state in Brazil. Additionally, the Company owns 100% of a second lithium project located in the states of Paraíba and Rio Grande do Norte in Brazil’s Northeast region. In total, Atlas Lithium has 100% ownership of mineral rights for almost all battery metals including lithium (293 km2), nickel (222 km2), rare earths (122 km2), titanium (89 km2), and graphite (56 km2), in addition to mining concessions for gold, diamonds, and sand. The Company also owns approximately 44% of Apollo Resources Corp. (private company; iron) and 24% of Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite). 

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Atlas Lithium Corporation (OTCQB: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project which consists of 52 mineral rights spread over 56,078 acres (227 km2) and is located primarily in the municipality of Araçuaí in the Vale do Jequitinhonha region of the state of Minas Gerais in Brazil. Atlas Lithium also has a separate second lithium project located in Brazil’s Northeast region. In total, Atlas Lithium owns mineral rights for almost all battery metals including lithium (293 km2), nickel (222 km2), rare earths (122 km2), titanium (89 km2), and graphite (56 km2), in addition to owning mining concessions for gold, diamonds, and sand. The company also owns approximately 44% of Apollo Resources Corp. (private company; iron) and 24% of Jupiter Gold Corp. (OTCQB: JUPGF).

The Company is led by CEO Marc Fogassa, a high-level executive with extensive experience in venture capital and public company chief executive management. He has served on boards of directors of multiple private companies in various industries, and is a regular speaker internationally. Mr. Fogassa graduated with two Bachelor of Science degrees from MIT and from Harvard Medical School with a Dr. of Medicine. Mr. Fogassa owns 2,877,789,671 shares of BMIX.  

Minas Gerais Lithium Project 

The Minas Gerais Lithium Project (“MGLP”) is the primary focus of Atlas Lithium and its largest endeavor to date. MGLP is situated in the prolific Eastern Brazilian Pegmatite Province (“EBP”), one of the world’s largest geological belts of granitic pegmatites hosting high-quality lithium-bearing spodumene and petalite. Areas of commercially productive lithium mineralization along the EBP are centered around the Araçuaí district near where Atlas Lithium’s claims are located. 

Since initiating its exploration program in 2021, the Company’s technical team has successfully identified within MGLP four distinct areas of mineralized pegmatite – named Neves, Salinas, Santa Clara, and Tesouras projects. Atlas Lithium is currently focused on thoroughly exploring its large Neves project area (6,632 acres or 27 km2) through a systematic approach involving a combination of basic prospecting, geological field mapping, trenching and geochemical sampling, and first pass reconnaissance drilling. The Company currently has two diamond bit core drills operating at Neves and plans to add a third drill to the program during the fourth quarter of 2022. To date, 27 drill holes totaling 2,103 meters of drilling have been completed. Atlas Lithium plans to soon provide an update on its exploration progress and then to periodically release updates as its Neves exploration program continues. 

In August 2022, Atlas Lithium filed its initial Exploration Technical Report (the “Technical Report”) for the Neves project which was prepared in accordance with the U.S. Securities and Exchange Commission’s Regulation S-K 1300. The Technical Report was authored by expert geologists from SLR International Corporation (“SLR”), an independent and well-known global consultancy that provides world-leading advisory, environmental, and engineering services to the mining and minerals industry. 

Atlas Lithium believes that it can materially increase its perceived market value by accelerating its exploratory program with the goal of determining initial lithium mineral resources for the Neves project. The Company is working closely with SLR to enable its maiden resource report to be produced as soon as feasible. Given its vast number of mineral rights for lithium, the Company expects that in the future it will periodically revise its lithium mineralization metrics as drilling continues in Neves and/or begins in other areas. In addition to the field exploration campaign, Atlas Lithium has begun metallurgical and other mineralogical studies with the goal of determining a processing route for its lithium-bearing ore. The Company’s revenue-generating goal is to enter production of lithium concentrate, a product which is highly sought-after in the battery supply chain for electric vehicles (EVs). 

To Find out the inside Scoop on ATLX Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

ATLX

ATLX owns 46.17% of the common shares of Apollo Resources Corporation, a private company currently primarily focused on the development of its initial iron mine, expected to start operations and revenues in early 2023. BMIX also own approximately 24.56% of Jupiter Gold Corporation a company focused on the development of gold projects and of a quartzite mine, and whose common shares are quoted on the OTCQB under the symbol “JUPGF”. The quartzite mine is expected to start operations and revenues in 2022. Currently JUPGF trades at $0.79. JUPGF quartzite mine is expected to start operations and revenues in 2022. 

Recently, ATLX obtained the presumptive exploratory permits for six additional nickel mineral rights encompassing 29,075 acres in the state of Goiás in Brazil. One of these rights is adjacent to a nickel producing mine and all are in a district known for lateritic nickel deposits. With such additions, Brazil Minerals’ nickel mineral rights holdings have more than doubled to 57,900 acres (234 km2). 

The Company also has a second collection of seven lithium mineral rights in the Northeastern part of Brazil comprising 16,266 acres (66 km2). In total, both lithium projects (Minas Gerais and Northeastern Brazil) comprise 62,925 acres (254 km2) of exploration claims. Besides lithium, Brazil Minerals’ portfolio of exploration properties for other battery metals includes 59,700 acres (234 km2) for nickel, 30,009 acres (121 km2) for rare earths, 22,050 acres (89 km2) for titanium, and 14,507 acres (59 km2) for graphite. The Company believes that it has one of the largest exploration footprints for battery metals among publicly listed companies. 

In August ATLX announced it has acquired four lithium mineral rights totaling 3,811.23 hectares (~ 9,418 acres) owned by a group of six persons, all unrelated to the Company. In particular, Brazil Minerals acquired one mineral right which is immediately north and two mineral rights which are immediately south of one of its premier claims, the Neves Area (“Neves”), part of the Company’s 100%-owned Minas Gerais Lithium Project. Brazil Minerals is currently drilling on Neves and has identified multiple hard rock pegmatites with attractive lithium concentrations; several of such pegmatitic ore bodies continue to the north and south into the newly acquired mineral rights. These claims expand the Neves project area footprint from 67.50 hectares (~ 167 acres) to 2,683.90 hectares (~ 6,632 acres) or almost 40 times its previous surface area (please see the attached map). This is a transformative acquisition for two main reasons: a) it creates the possibility of operationally developing Neves into a producing lithium mine of significant size, and b) the large additional area gives the Company the opportunity for increased lithium resources. 

On October 6 ATLX announced Atlas Lithium Corporation (OTCQB: ATLX) is the new corporate name and ticker symbol of Brazil Minerals, Inc. (OTCQB: BMIX) (prior symbol: BMIX). This change, first announced in July 2022, helps better reflect the Company’s lithium focus. 

Atlas Lithium is currently advancing and developing its 100%-owned hard-rock lithium project which consists of 52 mineral rights spread across 56,078 acres (227 km2), located primarily in and around the municipality of Araçuaí in the Jequitinhonha Valley region of Minas Gerais state in Brazil. Additionally, the Company owns 100% of a second lithium project located in the states of Paraíba and Rio Grande do Norte in Brazil’s Northeast region. 

In total, Atlas Lithium has 100% ownership of mineral rights for almost all battery metals including lithium (293 km2), nickel (222 km2), rare earths (122 km2), titanium (89 km2), and graphite (56 km2), in addition to mining concessions for gold, diamonds, and sand. The Company also owns approximately 44% of Apollo Resources Corp. (private company; iron) and 24% of Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite). 

For More on ATLX Subscribe Right Now!

Currently trading at a $39 million market valuation ATLX has 3,385,151,300 shares outstanding of which 1,222,982,873 are restricted, leaving 2,187,513,979 free trading BMIX shares. The Company has $1.8 million in assets and under $1 million in debt. *Not including equity stakes in Apollo Resources, and Jupiter Gold Corporation (OTCQB: JUPGF) BMIX traded as high as $0.10 in early 2021 and recently reversed off $0.0039 lows after the seller that decimated the share price in recent months closed out their position. BMIX Minas Gerais Lithium Project intersects the property of Sigma Lithium Corp currently trading for $35 on the Nasdaq. Sigma has  demonstrated through extensive drilling the presence of lithium deposits totaling over 20 million tons, according to its publicly available filings. Besides lithium, Brazil Minerals’ portfolio of exploration properties for other battery metals includes 59,700 acres (234 km2) for nickel, 30,009 acres (121 km2) for rare earths, 22,050 acres (89 km2) for titanium, and 14,507 acres (59 km2) for graphite. The Company believes that it has one of the largest exploration footprints for battery metals among publicly listed companies. We will be updating on ATLX when more details emerge so make sure you are subscribed to Microcapdaily.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: we hold no position in ATLX either long or short and we have not been compensated for this article.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.