The first hole shoots up 2,800 feet and hits a massive stream of lithium claystone

Reno, Nev., August 17, 2023 /PRNewswire/ — American Battery Technology Company (ABTC) (OTCQX: abml), a US important battery materials company commercializing both its primary battery mineral manufacturing and secondary mineral lithium-ion battery recycling technologies, launched its third drill program to advance its Tonopah Flats Lithium Projectis recognized as one of the largest known lithium resources United Statesand recently it was namedThe world’s fifth largest lithium clay and hard rock project. by Mining.com. This drill program has commenced core infill and step out drilling to support the development of this domestic resource towards advanced ‘measured and indicated’ resource classification.

The company has selected KB Drilling Mound House, Nevada For the collection of its infill and step out samples from its third drill program. This latest drill program has already commenced and will include sample collection from at least 8 additional drill holes and will initially involve drilling up to a total of 5,000 feet.

ABTC and KB Drilling have already completed sample collection from the first two holes – and sent preliminary samples to Paragon Geochemical, an industry-leading, fully accredited geochemical laboratory. Sparks, NevadaProviding mineralogical assay and geochemical analysis. Paragon Geochemical’s third-party characterization evaluation results are anticipated within 60-120 days.

“We are excited to begin this third drill program to continue our growth and expansion Nevada Lithium Claystone Resource,” said ABTC CEO Ryan Melsert, “This project is critical to establishing a domestic US supply of critical lithium materials, and preliminary visual inspection of samples from these first two drill holes suggests that this lithium-bearing Siebert Formation may lie at a much greater depth than initially suggested.” Once these additional samples are characterized by our third-party laboratories, we will be able to quantitatively measure the impact of these new sampling efforts on the evaluation and commercialization of this domestically important material resource.”

The ABTC Tonopah Flats Lithium Project includes 517 unpatented load claims over 10,340 acres, and ABTC controls 100% of the mining load claims including the Tonopah Flats claim and all local mineral rights without any royalties. ABTC began surface sampling of these claims in the summer of 2021, and subsequently conducted several subsurface drilling programs at depths of up to 825 feet, totaling more than 12,000 feet of discoveries, comprising approximately 65% ​​of its claims.

The results of these initial successful exploration programs led to the development and publication of its third-party Qualified Person (QP) audited SK-1300. Estimated Resource Report In February 2023which concluded that it is one of the largest known lithium resources United States Economically accessible lithium containing approximately 15.8 million tonnes on a carbonate equivalent basis (LCE); and added that ‘continued infill drilling will improve resource classification and improve confidence in the mineral resource estimate for the project.’

The objective of this drill program is to expand the lithium mineralization zone with step out drilling and to confirm presence mineralization between the step out holes with infill drilling.

“Our current program began with headquarters core drilling of the drill hole, TF 2323, located 2,800 feet south of our southernmost previously sampled hole, TF 2218, which potentially represents a significant portion of our deposits to the south. expanding,” said scott jolkver, Chief Mineral Resources Officer, ABTC. “Based on recovered cores collected from this hole, the lithium-bearing Siebert Formation claystone found at our Tonopah Flats Lithium Project appears to be continuous from 38 feet to at least 818 feet of core and open at depth. “

In addition to developing this resource, the company has developed its own in-house processes that use selective leach extraction to provide a low-cost, low-impact solution as opposed to traditional lithium extraction methods. ABTC will continue to conduct geological mapping, sampling, drilling, geochemical analysis and proprietary extraction testing to characterize this resource and to further determine the performance of its internally developed lithium extraction and manufacturing operations.

“We are intentionally developing our lithium resource using in-house, first-of-its-kind manufacturing technologies, along with the design and construction of our co-located lithium hydroxide refinery facility,” Melsert continued. “Often mineral resources and their associated refineries are located on different continents, and a major strength of our current opportunity is the use of our in-house developed refinery processing technologies to dramatically reduce material movement, environmental impacts and supply security constraints To do.”

in 2021, in cooperation with ABTC, DuPont and University of Nevada, Renohas been awarded $4.5 million Grant from the US Department of Energy (DOE) will build and operate a multi-ton-per-day demonstration-scale system to accelerate the commercialization and scale-up of this important battery-grade lithium manufacturing technology. As a result of the initial successes of this project, in October 2022 ABTC was selected for additional Competitively awarded US DOE grant for $115M Project Funded through bipartisan infrastructure legislation to support the construction of this commercial-scale primary lithium hydroxide manufacturing facility.

About American Battery Technology Company
The American Battery Technology Company, which recently changed its name from American Battery Metals Corporation, is divided into three divisions: lithium-ion battery recycling, low cost, low environmental impact through primary battery metal extraction, and domestically obtained battery metals. is in a unique position to supply technologies, and primary resource development.

American Battery Technology Company has created a clean technology platform that can be used to provide a major source of domestically manufactured critical and strategic battery metals to help meet the nearly insatiable demand of the electric vehicle, electrical grid storage and consumer electronics industries. is done for This ESG-principles platform works to create a closed-loop circular economy for battery metals that supports the 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 US Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are “forward-looking statements.” Although American Battery Technology Company (the “Company”) management believes such forward-looking statements are reasonable, it cannot guarantee that such expectations are or will be accurate. These forward-looking statements involve a number of risks and uncertainties that could cause the company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, the interpretation or reinterpretation of geologic information, adverse exploration results, the inability to obtain necessary permits for future exploration, development or production, general economic conditions and conditions affecting those industries in which the company operates; uncertainty of regulatory requirements and approvals; fluctuations in mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding factors that could 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 its Annual Report on Form 10-K for the year ended December 30, 2015. 30 June 2022, The company assumes no obligation to update any information included in or referenced in this press release.

SOURCE American Battery Technology Co.


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