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Reno, Nev., October 27, 2023 -- American Battery Technology Company (ABTC) (NASDAQ: ABAT), an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals battery recycling, is pleased to announce positive drill results from its third exploration drill program at its Tonopah Flats Lithium Project in Big Smoky Valley, Nevada. The infill and step-out drill program consisted of 8 holes totaling approximately 6,700 feet of sampling and achieved the target core drilling depth of over 1,400 feet, one of the deepest lithium sampling activities in the region. To date, the company has received third-party assay results for 6 of the 8 holes, with results further supporting the development of this domestic resource towards upgraded Measured and Indicated classifications.
“It is extremely rare to identify a resource where nearly every sample taken at depth is above its minimum cutoff concentration, and we are extremely pleased that the assay results of our initial 6 holes of our 8-hole third drill program continue to demonstrate that this is one of the premier lithium resources in the United States,” stated ABTC CEO Ryan Melsert. “From the data we published in the Spring in our SK-1300 compliant Maiden Resource Report, it was already identified that this is one of the largest known lithium resources in the United States, and with the additional step-out drilling in this program, we have even further expanded this data set, both with respect to surface and to depth. Additionally, the infill drilling within our already identified resource area that was recommended within our last resource report supports advancement of this resource towards upgraded Measured and Indicated classifications.”
This drill program has confirmed the presence of mineralization between step-out holes with infill drilling.
Highlights from this third drill program include:
• High Lithium Concentrations Above Cutoff: The vast majority of samples analyzed, up to 99% per hole, demonstrated lithium concentrations above the reference cutoff concentration of 300 ppmw. These intervals of high concentrations were observed in all 6 holes and throughout a large percentage of the total sampled depths, and with significantly higher peak concentrations observed in many sample holes (see Table 1), which makes this deposit especially attractive to the internally-developed ABTC processing train.
• Shallow Overburden: Anomalous lithium concentrations were measured at very shallow depths, less than 20 feet below the surface in many cases, indicating that low-cost and low-strip ratio techniques can likely be applied to access these near-surface lithium-bearing sedimentary materials.
• Depth of Mineralization: The drilling infrastructure employed in these explorations was able to drill to depths of up to 1,430 feet, and in several of these drill holes the significant mineralization of lithium is still present at these depths, indicating that the anomalous lithium presence could extend even beyond the sampled depths.
• Breadth of Exploration: With these additional 6 drill holes, a wide breadth of ABTC claims have been explored, including over 18,000 feet of exploration at depths of up to 1,430 feet.
• Magnitude of Deposit: With the anomalous lithium concentrations observed throughout the detailed exploratory drill holes, and throughout the listed sampling depths, the ABTC team is excited to receive the assay results of the remaining 2 holes, and to accelerate the exploration and characterization of these claims to take the further steps necessary to advance this deposit to a Measured and Indicated resource through an updated S-K 1300 compliant Resource Report process.
“We are extremely proud of our team in Tonopah, as we now have identified the Upper, Middle, and Lower Siebert formation geologically in the basin,” stated Scott Jolcover, chief mineral resources officer for American Battery Technology Company. “Our previous deepest hole was 825 feet, and we have now sampled at over 1,400 feet deep, with assay results received for 6 holes in this 8-hole program. All drilled holes have appeared to bottom in claystone with very shallow alluvium gravels at the top of the holes and we look forward to receiving the remaining assay results.”
The ABTC Tonopah Flats Lithium Project encompasses 517 unpatented lode claims covering over 10,340 acres, and ABTC controls 100% of the mining lode claims comprising the Tonopah Flats claims and the rights to all locatable minerals without any royalties. ABTC began surface sampling of these claims in the Summer of 2021, and subsequently performed multiple subsurface drilling programs at depths of up to 1,430 feet totaling over 18,000 feet of exploration.
The results of these initial successful exploration programs led to the development and publication of the company’s third-party Qualified Person (QP) audited SK-1300 compliant Maiden Resource Report in February 2023, which concluded that this deposit is one of the largest known lithium resources in the United States, containing approximately 15.8 million tons of economically-accessible lithium on a carbonate equivalent basis (LCE). As the remaining assay results are received, the company intends to prepare and publish an updated Resource Report with updated quantities of the resource that are at the inferred, measured, and indicated classifications.
In 2021, ABTC, in collaboration with DuPont and the University of Nevada, Reno, was awarded a $4.5-million grant from the U.S. Department of Energy (DOE) to build and operate a multi-ton-per-day demonstration-scale system to accelerate the commercialization and scale-up of this critical battery-grade lithium manufacturing technology. In June of this year, ABTC announced the company was successful in manufacturing lithium hydroxide product from its claystone feedstock from its Tonopah Flats Lithium Project, and that this product had been analytically characterized and shown to meet all third-party battery cathode grade specifications. Additionally, based on this empirical data generated from the processing of this lithium hydroxide project, ABTC was successfully able to produce a techno-economic analysis (TEA) that demonstrates that at commercial scale its internally-developed technologies produce a lithium hydroxide material with production costs that are lower than when manufactured from conventional resources and with conventional technologies.
Building off of the success of this demonstration system and scale up of its primary refining system, ABTC will further evolve this project with plans to construct a commercial-scale lithium hydroxide refinery utilizing this system design. In October 2022, ABTC with its partners, DuPont Water Solutions, University of Nevada, Reno, and Argonne National Laboratory, was selected for an additional grant by the U.S. DOE for a $115M commercial-scale refinery project. ABTC has engaged one of the premier global construction firms, Black & Veatch, for the engineering, procurement, and construction firms of its commercial scale lithium hydroxide refinery based on these fundamental metallurgical and mineral processing techniques. In September 2023, the company finalized this contract with U.S. DOE.
Couldn’t agree with you more! I thought it weird that nothing materialized regarding grant funding. I chose to hang on. No good reason for hanging on other than I work full time and was hit with a sales tax audit!!
Appreciate it! I’m still holding…in at .0009.
Wish you well
Hey DT, your picture is hilarious. Shows how things could be worse! Lol
Solid announcement and solid progress forward....
The agreement between the Pawnee Nation and Canoo is focused on four areas, Aquila says:
Building work force skills in zero emission vehicles and other clean energy technologies.
Developing qualified suppliers of parts and services needed for the zero-emission vehicle industry.
Supporting STEM education by connecting Pawnee students to internships and employment opportunities in clean energy fields.
Manufacture an initial order of Canoo vehicles for the Pawnee Nation that will be built in Oklahoma.
Markets are down
Happy Labor Day weekend everyone!! Enjoy yourselves. Looking to forward enjoying time with friends and family!!
Happy Friday everyone!
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American Battery Technology Company Secures up to $50M Investment to Support Commercial-Scale Battery Material Construction Projects
Supports Construction of Commercial Business Operations for US-Sourced Lithium-Ion Battery Materials through Recycling and Primary Resources
Reno, Nev. August 31, 2023 --American Battery Technology Company (“ABTC”) (OTCQX: ABML), an integrated battery materials technology company, announced today that after completion of a competitive diligence process to secure funding to facilitate advancement of the company’s commercial-scale construction projects, the company has consummated a debt financing with a single institutional investor for up to $50 million in zero coupon, Senior Secured Convertible Notes.
“This capital investment supports the continued development of our core projects as we evolve from pilot and demonstration scale systems up to commercial scale facilities in each of our business units,” stated ABTC CEO Ryan Melsert. “We evaluated a wide range of financing alternatives over the past several months, and the use of this debt financing is very well aligned with our growth plans.”
These funds will support the near-term expansion of ABTCs battery material processing operations, including:
Lithium-Ion Battery Recycling: ABTC currently has the first phase of its first commercial-scale recycling facility undergoing commissioning, which utilizes ABTCs internally-developed technologies for the strategic demanufacturing and recycling of battery components. A second phase will subsequently be added that includes its targeted chemical extraction train for the manufacturing of battery grade critical materials, and a third phase of these battery recycling operations will be integrated to further increase the material recovery rates and decrease operating costs. ABTC was recently selected for a U.S. Department of Energy (DOE) grant for a $20 million project to support the commercialization of this third phase, and the funds from this announced financing will directly support these efforts.
Primary Lithium Resource Development: ABTC is working to develop and commercialize its 10,340-acre lithium-bearing claystone deposit in Nevada, recently identified as one of the largest known lithium deposits in the U.S. with an inferred* resource of 15.8 million tons of lithium carbonate equivalent. These announced funds will support the current exploration program to continue the evolution of this domestic resource towards upgrading from the current ‘inferred’ resource to ‘measured and indicated’ resource classification, and also to proceed through the permitting operations to commercialize this domestic critical material resource.
Primary Lithium-Hydroxide Refinery: ABTC has developed its own technologies for the refining of its lithium-bearing claystone resource into battery grade lithium hydroxide product. This set of integrated processes is currently being demonstrated in its pilot plant, which is supported by a U.S. DOE grant it was awarded in 2021, with the processing capacity of up to 5 metric tonnes per day. As a result of the early successes of these efforts, in the fall of 2022 ABTC was selected by the U.S. DOE for an additional grant award for a $115 million project to construct a commercial scale lithium hydroxide refinery based on these first-of-kind technologies. The funds from this announced investment will directly support these commercial scale construction efforts as matching funds.
A.G.P./Alliance Global Partners acted as sole placement agent for the financing.
About American Battery Technology Company
American Battery Technology Company provides a key source of domestically manufactured critical battery metals to help meet the demand from the electric vehicle, electrical grid storage, and consumer electronics industries. The company’s ESG-principled focus works to create a closed-loop circular economy for battery metals with ethical and environmentally sustainable sourcing of critical and strategic materials. Through its three divisions, lithium-ion battery recycling, primary metal extraction technologies and primary resource development, the company is uniquely positioned to supply low-cost, lower-environmental impact, and domestically sourced battery metals.
www.americanbatterytechnology.com.
*Inferred Resource
Inferred mineral resource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. Because an inferred mineral resource has the lowest level of geological confidence of all mineral resources, which prevents the application of the modifying factors in a manner useful for evaluation of economic viability, an inferred mineral resource may not be considered when assessing the economic viability of a mining project and may not be converted to a mineral reserve.
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, 2022. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Copyright © 2023. American Battery Technology Company. All rights reserved.
www.americanbatterytechnology.com
Our mailing address is:
American Battery Technology Company
100 Washington Street, Suite 100
Reno, NV 89503
info@batterymetals.com
(775) 473-4744
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Digital Locations Inc (DLOC)
0.0025 +0.0001 (+4.17%) 15:46 ET [OTC US]
BARCHART OPINION for Tue, Aug 29th, 2023Tutorial Alerts Watch Help
Overall Average:
72% BUY
Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal.
Current Strength
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Current Direction
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Barchart Opinion
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Opinion Strength & Direction
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Short Term Indicators
20 Day Moving Average
SELL
20 - 50 Day MACD Oscillator
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20 - 200 Day MACD Oscillator
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20 - Day Average Volume: 11,359,818 Average: 50% BUY
Medium Term Indicators
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50 - 100 Day MACD Oscillator
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50 - 150 Day MACD Oscillator
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50 - 200 Day MACD Oscillator
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50 - Day Average Volume: 22,433,760 Average: 100% BUY
Long Term Indicators
100 Day Moving Average
BUY
The latest strategy might actually have some teeth to it!
As in Waterloo, Iowa?
Got it.
Thank you for the inside perspective. I’m a strong long.
Why did he resign?
Couldn’t agree more…We have a solid group! Here’s to Old Farts!!
Love it!!
We can call ourselves “The Old Farts Club”. Our best traits are patience and wisdom.
This summer my grandmother turned 97 and grandfather turned 100. First centurion in the family!
This summer my grandmother turned 97 and grandfather turned 100. First centurion in the family!
Nice!
Solid group we have here!
You’re still a young buck!
Excellent, 55 years young in the group…!!
If 55 yy counts then count me in!
If pps doesn’t correct back upwards,I wont be surprised at legal action taken
I realize this, however, from the 25+ years of experience I’ve seen where those who invest on private buy-ins very seldom lose. Those of us on the outside need to be aware of when opportunity to sell or buy makes the most sense. This, however, could clearly be an exception. Just interested in thoughts and opinions. Not trying to stir the pot.
Doesn’t the stock have to at some point reach back to the $.15 a share offering that it last did?
We filled the gap from late June yesterday.
Good morning….very good post DT
Me too. 1,000,000 shares at .0009. Solid opportunity for the investment.
Last trade 163,000 for .0025
Gorgeous!!
What’s holders perspective that Friday’s announcement of the SEC charges is already taken into account?
Morning. Agree…patience is a necessity.
Morning. Agree…patience is a necessity.
With you guys…average is a bit higher at .0009 but still solid.