Press release
American Battery Technology Company Announces Increased and Upgraded Lithium Resource to Measured and Indicated Classifications for One of the Largest Lithium Projects in the United States
Company continues to advance development of its Tonopah Flats Lithium Project, accelerating its path to commercialization of the domestic lithium supply chain
About this update from American Battery Technology Company
[{"type":"text","content":"Company continues to advance development of its Tonopah Flats Lithium Project, accelerating its path to commercialization of the domestic lithium supply chain\nRENO, Nev., Jan. 18, 2024 /PRNewswire/ -- 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 lithium-ion battery recycling, is pleased to announce upgraded Measured Resource and Indicated Resource classifications for its Tonopah Flats Lithium Project (TFLP) located in Big Smoky Valley near Tonopah, Nevada. The favorable announcement, published in an S-K 1300 report titled Updated Resource Estimate and Initial Assessment with Project Economics for the Tonopah Flats Lithium Project, Esmeralda and Nye Counties, Nevada, USA (Updated Initial Assessment), increases the resource's classification and attractiveness for commercialization. \n\n \n \n \n \n \n \n\n \nIn December 2023, ABTC published its Initial Assessment for the TFLP which included data from its first two drill programs, and provided a preliminary technical and economic study of the performance of the resource. The company's Updated Initial Assessment incorporates data from its third drill program, which results in an increase in total resource size and an upgraded classification for significant portions of the resource.\nOverall increase in lithium resource size of 17% from the previous Initial AssessmentApproximately 54% of the resource is now classified at an upgraded classification as a Measured Resource or an Indicated Resource, representing an increase in statistical confidence of quantity and quality of resource in progression of development towards commercializationTFLP continues to be one of the largest known lithium projects in the U.S., with total quantified resource of 21.15 million tons of lithium hydroxide monohydrate (LHM)Deposit remains unexplored and open to the South, Southwest, and at depth, allowing for potential to expand the resource with further drilling in both the South and North claim blocks, however with a throughput of 33,000 tons LiOH/yr the current quantified resource already has a mine life of over 400 yearsEven without incorporation of improved data from the third drill program, the TFLP demonstrates attractive after-...