Atlas Critical Minerals Corp. (ATCX; NASDAQ) reported initial assay results from the maiden diamond drilling program at its wholly owned Graphite Project in Minas Gerais, Brazil, with all 20 completed drill holes intersecting graphite mineralization at the first of the project's three mineral tenements.
The company said the 20 completed drill holes totaled approximately 2,300 meters and achieved a 100% graphite intercept success rate. Independent laboratory assays conducted by SGS Geosol confirmed multiple high-grade graphitic carbon (Cg) intervals, including 33.78 meters grading 7.97% Cg in drill hole MPDDH-0009, 22.66 meters grading 8.27% Cg in MPDDH-0007, 11.00 meters grading 8.03% Cg in MPDDH-0002, and intervals of 6.00 meters grading 9.55% Cg and 19.36 meters grading 6.09% Cg in MPDDH-0006.
According to the company, the 2026 diamond drilling program was designed using results from geological mapping, grab sampling, and a ground geophysical survey. The full program totals approximately 6,000 meters across the project's three tenements. Prior to drilling, Atlas completed 27.5 kilometers of ground geophysical data acquisition, with anomalies identified along an approximately 11-kilometer strike length.
The company said exploration activities are being conducted in accordance with Item 1300 of Regulation S-K. Technical work is supervised by Marc-Antoine Laporte of SGS Canada Inc., who serves as the Qualified Person for graphite under Regulation S-K 1300. Atlas also stated that the project's Technical Report Summary includes initial metallurgical testwork conducted at a specialized graphite laboratory in the United States, where project samples achieved battery-grade and nuclear-grade qualification standards.
Marc Fogassa, chairman and chief executive officer of Atlas Critical Minerals, said in a company news release, "These are outstanding initial drill results that validate our earlier exploration work. Every one of the first 20 holes intersected graphite, including a nearly 34-meter interval averaging close to 8% graphitic carbon."
A Buy-Rated Stock in the Critical Minerals Space
On January 30, 2026, Jake Sekelsky of Alliance Global gave the company a Buy rating, with a target price of US$42.
On April 6, 2026, H.C. Wainwright & Co. analyst gave the company a Buy rating and a US$13.75 price target. In its report, H.C. Wainwright noted that it views ATCX as uniquely positioned to benefit from the structural shift in global critical minerals supply chains, citing the company's large-scale rare earth, titanium, and graphite land package in Brazil and its early-stage but revenue-generating operations.
Drilling Expands Across Remaining Tenements
Atlas said drilling is continuing across the project's two additional contiguous mineral tenements, covering the remaining approximately 8.5 kilometers of open strike.
The company said SGS Canada has been retained to prepare a maiden Mineral Resource Estimate, which is expected in the fourth quarter of 2026. Atlas stated it intends to follow the resource estimate with a Preliminary Economic Assessment in the first quarter of 2027.
In addition to the drilling program, the company plans to complete detailed mineralogical characterization studies to identify the principal mineralogical phases within the host lithologies. Atlas also said it will conduct bench-scale metallurgical testing focused on process optimization and flake-size distribution studies to assess product quality and recovery potential.
Streetwise Ownership Overview*
Atlas Critical Minerals Corp. (ATCX;NASDAQ)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 02/18/20 | BWMC:NASDAQ | 1 | ATCX:NASDAQ | 1 |
According to the company's June 2026 corporate presentation, the Malacacheta Graphite Project covers 2,822 hectares in Minas Gerais, Brazil. The presentation states the project has visible surface graphite occurrences, that it is supported by an SGS-authored SK-1300 Property of Merit report published on Aug. 14, 2025, and that testing demonstrated nuclear-grade graphite potential.
Ownership & Share Information1
About 30% of Atlas Critical Minerals is owned by insiders and management. Atlas Lithium Corp. (ATLX:NASDAQ) holds ~20% of the company.
Its market cap is ~US$18 million with ~5 million shares outstanding. It trades in a 52-week range of US$3.02 and US$14.01
Frequently Asked Questions
What did Atlas Critical Minerals announce about its Graphite Project?
Atlas Critical Minerals announced initial results from its maiden diamond drilling program at its wholly owned Graphite Project in Minas Gerais, Brazil, where all 20 completed drill holes intersected graphite mineralization.
Where is the Atlas Critical Minerals Graphite Project located?
The Atlas Critical Minerals Graphite Project is located in Minas Gerais, Brazil, and consists of three mineral tenements targeted through a 2026 diamond drilling program.
What were the highest graphite drill results reported by Atlas Critical Minerals?
Atlas Critical Minerals reported drill intercepts including 33.78 meters grading 7.97% graphitic carbon, 22.66 meters grading 8.27% graphitic carbon, and 11.00 meters grading 8.03% graphitic carbon.
How many drill holes intersected graphite mineralization?
The company reported that all 20 completed drill holes intersected graphite mineralization during the first phase of drilling at the initial tenement.
How large is the Atlas Critical Minerals drilling program?
Atlas Critical Minerals said its 2026 diamond drilling program totals approximately 6,000 meters across the project's three mineral tenements, with approximately 2,300 meters completed at the first tenement.
What is graphitic carbon (Cg)?
Graphitic carbon, or Cg, is the measurement used to report the graphite content within mineralized rock and is commonly used when reporting graphite drill assay results.
What are Atlas Critical Minerals' next steps at the Graphite Project?
The company said drilling is continuing at the remaining two contiguous mineral tenements while SGS Canada prepares a maiden Mineral Resource Estimate expected in the fourth quarter of 2026. Atlas also plans mineralogical characterization and bench-scale metallurgical testing.
Why is graphite considered a critical mineral?
According to Atlas Critical Minerals, graphite is the dominant anode material used in lithium-ion batteries and is recognized as a critical mineral by several governments because of its role in energy storage systems and electric vehicles.
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Important Disclosures:
- Allied Critical Metals Inc. and Atlas Lithium Corp are billboard sponsors of Streetwise Reports and pay SWR a monthly sponsorship fee between US$3,000 and US$6,000.
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Allied Critical Metals Inc. and Atlas Lithium Corp.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
