Atlas Lithium Corporation, a mineral exploration company focused on lithium and other battery metals critical to powering the green energy revolution, announced that Jupiter Gold Corporation, a company in which Atlas Lithium owns a 24% stake, has received the necessary permitting to begin operating its first quartzite mine.
“Obtaining the operational permit is a highly significant milestone for Jupiter Gold, an important component of our mineral asset portfolio,” said Marc Fogassa, Chairman and Chief Executive Officer of Atlas Lithium. “This development is a mandatory step towards beginning mining activities for our subsidiary’s highly anticipated quartzite project.”
Jupiter Gold’s geology team discovered a significant quartzite deposit in 2020. During 2021, a drilling campaign was undertaken which confirmed the presence of high-quality, commercial-grade quartzite in the samples collected. Preliminary calculations indicated a potential of 3.9 million tons of quartzite mineralization. Quartzite from other producers in Brazil is currently selling for between $1,800 to $2,000 per cubic meter.
In 2021 and 2022, specialized consultants hired by Jupiter Gold performed all necessary environmental studies needed to apply for the quarry’s operational licensing which has now been obtained. Jupiter Gold has hired a mining engineer with extensive experience in quartzite mining and the commercialization of such production to oversee this operation.