Reno, Nev., Dec. 10, 2021 (GLOBE NEWSWIRE) — American Battery Technology Company (ABTC) (OTCQB:ABML), an American critical minerals manufacturing and lithium-ion battery recycling company, has received approval of its required Notice of Operation Permit from the Bureau of Land Management (BLM) Tonopah Field Office, as well as its Reclamation Bonding from the BLM Nevada State Office in Reno, for its initial Phase One subsurface sampling of its recently secured 305 lode mining claims located on land in Little Smokey Valley near Tonopah, Nev.
“With our permit and bonding in place, we are excited to now commence with exploratory drilling and subsurface sampling of these high potential resources,” said American Battery Technology Company CEO Ryan Melsert. “The preparation, submittal, and approval of our permit in such a short time period is very rare and is a testament to the experience level and work ethic of our Resources team. We are extremely proud of these team members, and look forward to analyzing the results of these exploratory samples and continuing to accelerate the rapid development of this resource.”
The company previously announced the initial results of its surface sampling from these claims, and after experiencing promising results, exploratory drilling on these claims, now referred to as ABTC’s Tonopah Flats Lithium Exploration Project, is the next critical step in developing this high potential resource. The samples collected during these exploratory drilling operations will be characterized and analyzed in order to define and quantify the extent of the lithium-bearing deposit in footprint, depth, and grades of 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.
“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 American Battery Technology Company CEO 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 near 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.”
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.
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.
American Battery Technology Company