Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) revealed positive results from its Phase 4 exploration program that could significantly expand the Grota do Cirilo resource.
In a statement, Sigma said the project’s mineral resource estimate could increase by 25%, potentially reaching 110 million tonnes.
That would position Sigma among the largest lithium companies globally.
The company said it is also planning to increase mineral resources further with an accelerated plan for Phase 5 and beyond.
The company increased the exploration potential of Phase 4 to approximately 26 to 30 million tonnes (Mt), with ore body extensions continuing to the east.
The current technical report has a mineral resource estimate comprised of 77 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.
Other findings from the exploration program include high-grade assay results indicating the expansion of mineral resources and the continuity of mineralization between Phase 4 and Phase 3.
"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,” Sigma co-chairperson and CEO Ana Cabral said in a statement.
“This scale underscores our strategic relevance to become the foundation of global supply chains that will deliver the decarbonization of EV batteries.”
Sigma said that its accelerated plan includes further exploration drilling at the company's mineral concessions, encompassing five former artisanal mines and 57 pegmatites, out of a total of 200 mapped within the company's mineral concessions.
Currently, the company has eight core diamond drills operating in the Grota do Cirilo region, with plans to drill 20,000 meters over the next seven weeks. The main focus of this drilling effort is to confirm and extend the size of the pegmatite swarm in the Phase 4 area.
With a 2.3-kilometer strike length and approximately 300 meters in depth, Phase 4 still offers untapped potential, particularly to the east, the company said.