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American Battery Materials and XTC Lithium Limited Announce Letter of Intent for Strategic Partnership in Carachi Lithium Project
GREENWICH, CT / ACCESS Newswire / March 27, 2025 / American Battery Materials, Inc. (OTC PINK:BLTH) (ABM), a Delaware-based corporation dedicated to advancing lithium resource development, and XTC Lithium Limited (XTC), an Australian corporation, ...
About this update from American Battery Materials Inc.
[{"type":"text","content":"GREENWICH, CT / ACCESS Newswire / March 27, 2025 / American Battery Materials, Inc. (OTC PINK:BLTH) (ABM), a Delaware-based corporation dedicated to advancing lithium resource development, and XTC Lithium Limited (XTC), an Australian corporation, are pleased to announce the signing of a non-binding Letter of Intent (LOI) outlining summary terms of a proposed partnership to develop the Carachi Lithium Project in Argentina's Catamarca Province.","length":450,"tagName":"p"},{"type":"text","content":"The Carachi Lithium Project, held by XTC's wholly owned Argentine subsidiary, XTC Lithium Argentina SAR (XLA), comprises several exploration properties within Argentina's renowned Lithium Triangle. This region is globally recognized for its rich lithium deposits, a critical component in the production of batteries for electric vehicles and renewable energy storage.","length":375,"tagName":"p"},{"type":"text","content":"Under the terms of the LOI, ABM will have the opportunity to acquire up to a 50% interest in the Carachi Lithium Project. Additionally, upon securing a 10% interest in the Project, ABM will have the right to enter into a joint venture agreement with XTC for the continued exploration and development of the mining tenements.","length":324,"tagName":"p"},{"type":"text","content":""This Letter of Intent represents a pivotal step in our strategy to expand our footprint in the global lithium market," said David E. Graber, CEO of American Battery Materials, Inc. "Partnering with XTC Lithium LTD, gives us access to a promising project in the heart of the Lithium Triangle, and we look forward to working together to unlock its full potential."","length":383,"tagName":"p"},{"type":"text","content":"Mr. Graber also said, "Beyond proven geological data on the salar, Xantippe (XTC Lithium) has an excellent operating team in place that is personally invested in the project. Those individuals have a successful track record in identifying, developing and financing projects all the way through a sale."","length":312,"tagName":"p"},{"type":"text","content":"John Featherby, Chairman of XTC Lithium Limited, added, "We are excited to collaborate with ABM on the Carachi Lithium Project. Their expertise and shared commitment to sustainable resource development make them an ideal partner as we advanc...