Atlas Lithium to Start Production at Brazil's Neves Project in 2024

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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Atlas Lithium (NASDAQ:ATLX) (Boca Raton, Florida) is gaining a strong foothold in Brazil by expanding its exploration area, while it expects to produce its first lithium by the end of this year.

Atlas Lithium announced that its lithium concentrate is being prepared to be shipped to its Neves project in Minas Gerais, Brazil, in third-quarter 2024 with an expected production start by the fourth quarter this year.

Currently, the miner continues to actively drill within the Neves project. So far, Atlas Lithium has mapped and sampled of more than 84 pegmatite outcrops by trenching lithium in soil anomalies. On par with these processes, the company is advancing with its definitive feasibility study for the project, which it expects to be completed before the start of production by the end of this year.

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"In parallel with the geological efforts, and to better align this work with the Company's objective of production in Q4 2024, the decision has been made to upgrade the PEA to a Definitive Feasibility Study, and to release it prior to production," said Brian Talbot, chief operating officer and director at Atlas Lithium. "Our goal remains to transform Atlas Lithium into a low-cost lithium producer in Brazil, leveraging our extensive tenement portfolio to develop multiple projects across the country."

In addition to its Neves development, the company is also exploring lithium-rich pegmatites at the Coronel Murta and Valadares projects, which are located in Minas Gerais, Brazil.

In the same announcement, Atlas Lithium highlighted that it has more than doubled its exploration portfolio area in Brazil to 539 square kilometers (334 square miles), with many of these new lands located in the Doce River and Muri valleys, which remain relatively unexplored, but the company considers them an "exciting new lithium jurisdiction."

Nick Rowley, vice president of business development at Atlas Lithium, said, "Pushing towards becoming a producer of lithium concentrate is our top focus in the short term. We have been also working on significantly increasing our overall mineral rights holdings to solidify our leading position in Brazil, which is attracting increasing interest globally as a hub for hard-rock lithium production."

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