Reno, Nev., Dec. 02, 2021 (GLOBE NEWSWIRE) -- American Battery Technology Company (ABTC) (OTCQB:ABML), an American critical minerals manufacturing and lithium-ion battery recycling company, announced initial sampling results at its recently secured 305 lode mining claims located on land administered by the Bureau of Land Management (BLM) in Little Smokey Valley near Tonopah, Nev.
The ABTC field team analyzed 29 new surface sample locations, along with existing samples previously collected by other parties, and the resulting data demonstrated grades of anomalous reported lithium present from 260 ppm to 1,530 ppm in the project area. Samples with values of 300 ppm and up are typically considered very prospective in nature. The historic samples were analyzed by ALS Analytical Lab in Reno Nev., and the samples collected by ABTC were assayed at the American Assay Laboratory in Reno, Nev.
“We are excited to confirm the attractive lithium concentrations in these surface samples throughout our claims,” said ABTC CEO Ryan Melsert. “With these initial surface sample characterizations completed, we can now take the important next step of subsurface sampling to determine the potentiality of even greater attractive concentrations and overall compositions of these sedimentary deposits as experienced on nearby claims at shallow depths.”
As a result of the initial surface sample characterizations, ABTC has submitted a Notice of Operation permit and Reclamation Bonding to the Bureau of Land Management Tonopah Field Office for subsurface samplings of these claims. Exploratory subsurface sampling is the next sequential step in moving towards developing this resource where the sample results will be used to define the extent of the deposit in footprint, depth, and the grades of the lithium.
Preliminary evaluation of historical sampling and characterization efforts have indicated that the composition and structure of the resources on these claims could be 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.
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 these 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 is also evaluating the performance of its lithium extraction and manufacturing technologies directly on its own lithium-bearing resource.
“The magnitude of the entire lithium-ion battery recycling industry combined cannot meet the near insatiable demand for critical and strategic battery metals on its own,” stated Melsert. “Our primary battery metal resource extraction work seeks to supplement these recycled-sourced metals with low-cost, low-environmental impact, and domestic virgin-sourced metals to support the establishment of a secure, domestic, closed-loop circular battery supply chain."
For more information, please visit: www.americanbatterytechnology.com.
About American Battery Technology Company
American Battery Technology Company, which recently changed its name from American Battery Metals Corporation, is uniquely positioned to supply low-cost, low-environmental impact, and domestically sourced battery metals through its three divisions: lithium-ion battery recycling, primary battery metal extraction technologies, and primary resources development.
American Battery Technology Company has built a clean technology platform that is used to provide a key source of domestically manufactured critical and strategic battery metals to help meet the near insatiable demand from the electric vehicle, electrical grid storage, and consumer electronics industries. This ESG-principled platform works to create a closed-loop circular economy for battery metals that champions ethical and environmentally sustainable sourcing of critical and strategic materials.
Forward-Looking Statements
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, are "forward-looking statements." Although the American Battery Technology Company's (the "Company) 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, 2021. The Company assumes no obligation to update any of the information contained or referenced in this press release.
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American Battery Technology Company
Media Contact:
Tiffiany Moehring
tmoehring@batterymetals.com
720-254-1556
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