Reno, Nev., January 21, 2025 (GLOBE NEWSWIRE) – American Battery Technology Company (ABTC) has initiated a new drill program to accelerate the commercialization of its Tonopah Flats Lithium Project (TFLP). ABTC, listed on the NASDAQ under the ticker ABAT, is an integrated critical battery materials company. They are developing technologies for both primary battery minerals manufacturing and for recycling lithium-ion batteries.
In April 2024, ABTC published its Amended Initial Assessment. The assessment concluded that the TFLP is one of the largest known lithium resources in the United States. It contains approximately 21.2 million tons of economically accessible lithium hydroxide equivalent (LCE). The assessment also stated that battery-grade lithium hydroxide could be manufactured at a production cost of $4,302 per ton.
The next step in commercializing this resource is the completion and publication of a prefeasibility study (PFS).
This new drill program is critical to the PFS. According to the company, the program will provide the geotechnical data to define the structural mine pit shape. Moreover, it will increase the resolution of the 3D resource model. The program also aims to add to the understanding of high-grade continuity within the proposed pit.
The drill program incorporates core sample collections. These samples will be assayed and characterized to further define the resource, especially in the previously unexplored southwest section of the claim block. ABTC hopes this work will increase the overall lithium resource size.
Truth North Drilling of Tonopah, Nevada, has been engaged for the core sample collections. Barr Engineering, a nationally recognized mining engineering firm, will support the company with the design and development of its ‘mine plan of operation’ and the publication of its PFS for the TFLP.
ABTC has successfully manufactured battery-grade lithium hydroxide from its TFLP claystone resource. This was achieved using its internally developed integrated demonstration-scale facility.
Furthermore, ABTC engaged Black & Veatch, a premier global construction firm, for the engineering, procurement, and construction of a 30,000 tonnes per year commercial-scale lithium hydroxide refinery. This will be constructed directly at the TFLP resource.
Lithium products are generally manufactured from conventional feedstock resources worldwide. These include hard rock spodumene materials, primarily from Western Australia, and lithium-rich brines, mainly from South America. However, the U.S. does not have large quantities of these conventional resources. To increase domestic U.S. production of battery-grade lithium products, ABTC has developed unique technologies. These technologies will access the lithium within unconventional lithium-rich claystone material found in central Nevada. This will enable them to manufacture battery-grade lithium materials in a low-cost and environmentally conscious manner.
Pre-Feasibility Study
A Preliminary Feasibility Study, or Pre-Feasibility Study, is a comprehensive examination of a range of options. It assesses the technical and economic viability of a mineral project. For underground mining, it determines a preferred mining method. For surface mining, it determines a pit configuration. In all cases, it determines an effective method of mineral processing and an effective plan to sell the product. A Pre-Feasibility Study includes a financial analysis. This analysis is based on reasonable assumptions, appropriate testing, and an evaluation of all relevant factors. This is to determine if all or part of the Indicated and Measured Mineral Resources may be converted to mineral reserves. The financial analysis must demonstrate that extraction is economically viable.
A Pre-Feasibility Study is less comprehensive and results in a lower confidence level than a full feasibility study. However, it is more comprehensive and results in a higher confidence level than an Initial Assessment.
About American Battery Technology Company
Based in Reno, Nevada, American Battery Technology Company (ABTC) has developed novel technologies. These help to unlock domestically manufactured and recycled battery metals. These metals are critically needed by the electric vehicle, stationary storage, and consumer electronics industries.
ABTC aims for a circular supply chain for battery metals. They are working to constantly innovate and master new battery metal technologies. This will help to power a global transition to electrification and the future of sustainable energy.
Forward-Looking Statements
This press release contains “forward-looking statements.” These statements are covered by the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, except those based on historical facts, are considered “forward-looking statements.” Although ABTC management believes these statements are reasonable, future results may differ. These forward-looking statements involve risks and uncertainties. Potential risks include the company’s ability to continue as a going concern. Further risks include interpretations of geologic information, exploration results, and permitting for future activities. Economic conditions, regulation, and mineral prices also pose risks. The company’s filings with the Securities and Exchange Commission provide additional risk information, including the Annual Report on Form 10-K for the year ended June 30, 2024. The company assumes no obligation to update the information in the press release.
