Reno, Nev., Feb. 16, 2022 (GLOBE NEWSWIRE) — American Battery Technology Company (ABTC) (OTCQB:ABML), an American critical minerals and lithium-ion battery recycling company, today announced that it is in the process of staking 90 additional surface sedimentary lithium-bearing claims covering approximately 1,800 acres that will expand their Tonopah Flats Lithium Exploration Project in Big Smokey Valley, Nev. to a total of approximately 10,340 acres.
As previously announced, ABTC has delivered its initial Tonopah Flats lithium samples for analysis for high throughput screening analysis. The company has decided to substantially expand its claims in the area, and will also continue with additional exploratory drilling while thorough analyses of subsequent samples are underway. The company will continue conducting geological mapping, sampling, geochemical analysis, and proprietary extraction trials to characterize these high potential resources and to quantify the performance of its internally developed lithium extraction and manufacturing operations.
As the company further accelerates the commercialization of its internally developed process train for the manufacturing of battery grade lithium hydroxide product from this unique type of lithium-bearing surface sedimentary resource at its claims near Tonopah, Nev., it has initiated the process of exiting its positions in the Railroad Valley area and its associated brine claims. The company has sold 224 of their 644 unpatented placer claims in this Western Nevada Basin (WNB) located in Nye County, Nevada to Ameriwest Lithium Inc., a North American lithium exploration and development company.
As part of the company’s battery metals resource development exploration efforts, ABTC is performing bench scale characterization and extraction trials to confirm the technical and economic feasibility of extracting elemental lithium from these acquired resources in order to produce battery grade lithium hydroxide, and other high value lithium products, for sale to the battery metals market. ABTC’s sale of WNB claims, in combination with the expansion of its lithium-bearing surface sedimentary claims in Big Smokey Valley, follows an evolution in strategy and an emphasis on the sampling and characterization of lithium-bearing claystone sedimentary resources in the Tonopah Flats Lithium Exploration Project.
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.
SOURCE: American Battery Technology Company