Addresses Rapidly Increasing Demand for Critical Battery Materials and Provides Additional Avenue for Commercialization of Company's Internally Developed Lithium Hydroxide Extraction Technologies
RENO, NV / ACCESSWIRE / September 24, 2021 / American Battery Metals Corporation (OTCQB:ABML) (the "Company" or "ABTC"), an American-owned lithium-ion battery recycling technology and advanced battery metal extraction company with mineral resources in Nevada, which is in the process of changing its name to American Battery Technology Company (ABTC), today announced that it has entered into an agreement to secure 305 unpatented lode mining claims covering approximately 6,100 acres of land that is administered by the Bureau of Land Management (BLM) near Tonopah, Nev. This agreement is in the form of an exclusive exploration license through which ABTC has the sole authority to conduct its surveying, sampling, and proprietary extraction trials to characterize these resources and to quantify the performance of the lithium extraction and manufacturing operations. Through this agreement, after concluding its trials and internal assessment of these resources, ABTC then has the exclusive option to purchase these lithium-bearing claims.
Over the past two years, ABTC has been designing and optimizing its internally-developed processing train for the manufacturing of battery cathode grade lithium hydroxide from Nevada-based sedimentary claystone resources. The majority of these development efforts to date have been performed with sedimentary claystone resource samples provided by partner companies in the Tonopah, Nev. region. While ABTC will continue to work with these partners to refine, test, and validate its internally developed technologies for potential commercialization at these resource sites, ABTC will now also be evaluating the performance of its lithium extraction and manufacturing technologies directly on its own lithium-bearing resource.
Preliminary evaluation of historical sampling and characterization efforts have indicated that the composition and structure of the resources on these claims are representative of resources identified on nearby claims in the same region. In April 2020, American Lithium published a resource assessment of their 7,500 acre TLC project, which directly borders these ABTC secured claims, which stated a Measured and Indicated resource of 5.37 million tonnes of lithium carbonate equivalent, with an additional 1.76 million tonnes Inferred. "There is a well-known adage in the mining industry, that the best place to find a new mineral deposit is next to where there is an existing one," stated ABTC Chief Resource Officer Scott Jolcover.
"Our in-house technology development and commercialization efforts for the domestic manufacturing of battery cathode grade lithium hydroxide directly support US federal efforts to reduce dependence on foreign sources of these critical materials that may not adhere to sufficient ethical and environmental standards for battery metals sourcing and manufacturing," stated ABTC CEO and CTO Ryan Melsert. "The construction and commissioning of our lithium-ion battery recycling pilot facility remains our primary focus, however the magnitude of the entire battery recycling industry combined cannot meet the nearly insatiable near-term demand for these critical and strategic battery metals on its own. These recycling facilities must be supplemented by low-cost, low-environmental impact, and domestic primary battery metal manufacturing facilities in order to establish a truly secure closed-loop circular battery metals supply chain."
ABTC will begin the process of preparing and submitting a notice-level exploration permit application to the BLM which includes environmental review and approval adhering to EPA's National Environmental Protection Act requirements.
To support the company's execution of its US Department of Energy funded field demonstration grant project and this additional opportunity to expand its sedimentary claystone lithium resource exploration work, ABTC recently closed on the purchase of a satellite office located in Tonopah, Nevada.
About American Battery Technology Company
American Battery Technology Company is uniquely positioned to supply battery metals through its three divisions: lithium-ion battery recycling, battery metal extraction technologies, and primary resources development. The Company issued a public statement outlining its principled approach to executing its ambitious business plan.
American Battery Technology Company has built a clean technology platform that increases production of primary metals used in the batteries that power electric cars, grid storage applications, and consumer electronics and tools. The green platform creates a circular economy for battery metals that champions ethical and environmentally sustainable sourcing of critical materials.
For more information, please visit: www.americanbatterytechnology.com
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the development timelines and economics for ABTC recycling projects including the development of its initial or subsequent recycling facilities or any lithium-ion mining projects, and the potential results of such efforts, and the effects on timing of such projects, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended June 30, 2020. The Company assumes no obligation to update any of the information contained or referenced in this press release.
SOURCE: American Battery Metals Corporation