ABTC CEO leads virtual walkthrough of one
of the largest known lithium deposits in the United States with Vrify CEO Stephen De Jong
RENO,
Nev, April 24, 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,
has published an amended Initial Assessment for its Tonopah Flats
Lithium Project (TFLP).
The TFLP is one of the largest identified lithium resources in
the U.S., and while initial pit designs and economic analyses in
previous assessments evaluated the full resource, this updated
Initial Assessment utilizes a commercialization pathway with a more
rigorous mine plan that contemplates utilization of only Measured
and Indicated Mineral Resources, and excludes Inferred Mineral
Resources, to supply the planned commercial-scale lithium hydroxide
monohydrate (LHM) refinery.
This commercialization pathway allows for an engineered phased
development, with improved access to the higher quality portions of
the resource, and at improved project economics. ABTC
recently completed construction of its multi-ton per day integrated
demonstration facility for the processing of its
lithium-bearing claystone material into lithium products. Updated
project metrics for ABTC's TFLP resource utilizing its
internally-developed and demonstrated processing technologies
include:
- While the prior Initial Assessments included Inferred Mineral
Resources, which are more speculative, this most recent Initial
Assessment details a commercialization plan where only Measured and
Indicated Mineral Resources would be utilized to service the
lithium hydroxide refinery
- Total amount of claystone processed over life of mine reduced
7%, to 597 million tons
- Average grade over life of mine increased by 8%, to 4,111 ppm
LHM
- Average production costs over life of mine decreased by 7%, to
$4,302/ton LHM
- Net present value at 10% discount rate (NPV-10) increased by
6%, to $4.67 billion
ABTC published the TFLP Initial Assessment in December 2023 and updated it in January 2024. ABTC is publishing this
Amended Resource Estimate and Initial Assessment with
Project Economics for the Tonopah Flats Lithium Project,
Esmeralda and Nye Counties, Nevada, USA (Amended Initial
Assessment), that includes these changes and other
updates. The Amended Initial Assessment remains preliminary in
nature, and there is no certainty that this economic assessment
will be realized. Mineral Resources, including Measured and
Indicated Mineral Resources, are too speculative geologically to be
considered Probable or Proven Reserves.
To describe and walkthrough this updated commercialization plan
and project scale-up, ABTC CEO Ryan
Melsert was interviewed by Vrify CEO Stephen De Jong to talk through these
highlights with visual graphics of the TFLP and its related
infrastructure.
The interview highlights:
- Drill Program II location and assay results
- Updated Drill Program III locations and assay results
- ABTC's lithium hydroxide pilot plant and commercial-scale
refinery
- Recommended next steps for the project
To view the interview, click here.
To view the interactive 3D Model used during the interview, click
here.
American Battery Technology Company's Measured,
Indicated, and Inferred Lithium Mineral Resource
|
Resource
Classification
|
|
Total
kTons
|
|
|
Average
ppm
Li
|
|
|
Li
kTons
|
|
|
LHM
kTons
|
|
|
Measured
|
|
|
721,000
|
|
|
|
702
|
|
|
|
510
|
|
|
|
3,060
|
|
|
Indicated
|
|
|
2,439,000
|
|
|
|
565
|
|
|
|
1,380
|
|
|
|
8,340
|
|
|
Measured +
Indicated
|
|
|
3,160,000
|
|
|
|
596
|
|
|
|
1,890
|
|
|
|
11,400
|
|
|
Inferred
|
|
|
2,931,000
|
|
|
|
550
|
|
|
|
1,610
|
|
|
|
9,750
|
|
|
Total
|
|
|
6,091,000
|
|
|
|
574
|
|
|
|
3,500
|
|
|
|
21,150
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABTC received support for the commercialization of these
internally-developed technologies for the manufacturing of battery
grade lithium hydroxide from Nevada-based claystone resources from an
initial U.S. Department of Energy (DOE) grant toward the
$4.5M construction and operation of a
multi-ton per day integrated pilot plant, and from a second DOE
grant toward the $115M construction
and commissioning of the first phase of a commercial scale lithium
hydroxide refinery.
The Amended Initial Assessment supersedes all previously
published reports effective as of April
5, 2024. To read the full Amended Initial Assessment,
view updated 3D interactive resource graphics, and learn more about
the ABTC Tonopah Flats Lithium Project, visit:
www.americanbatterytechnology.com.
Qualified Person
The mineral resource estimates presented in the ABTC Tonopah Flats
Initial Assessment were performed by third-party, qualified person
RESPEC, LLC and were classified by geological and quantitative
confidence in accordance with the Securities and Exchange
Commission (SEC) Regulation S-K 1300.
Initial Assessment
Initial Assessment is a preliminary technical and economic study of
the economic potential of all or parts of mineralization to support
the disclosure of mineral resources. The Initial Assessment must be
prepared by a qualified person and must include appropriate
assessments of reasonably assumed technical and economic factors,
together with any other relevant operational factors, that are
necessary to demonstrate at the time of reporting that there are
reasonable prospects for economic extraction. An Initial Assessment
is required for disclosure of mineral resources but cannot be used
as the basis for disclosure of mineral reserves. An
Initial Assessment is preliminary in nature and includes
Inferred Mineral Resources that are considered too speculative
geologically to have the economic considerations applied that would
enable them to be classified as mineral reserves. There is no
certainty that the economic results of an Initial Assessment will
be realized.
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.
Indicated Resource
Indicated Mineral Resource is that part of a mineral resource for
which quantity and grade or quality are estimated on the basis of
adequate geological evidence and sampling. The level of geological
certainty associated with an Indicated Mineral Resource is
sufficient to allow a qualified person to apply modifying factors
in sufficient detail to support mine planning and evaluation of the
economic viability of the deposit. Because an Indicated Mineral
Resource has a lower level of confidence than the level of
confidence of a Measured Mineral Resource, an Indicated Mineral
Resource may only be converted to a Probable
Mineral Reserve.
Measured Resource
Measured Mineral Resource is that part of a mineral resource for
which quantity and grade or quality are estimated on the basis of
conclusive geological evidence and sampling. The level of
geological certainty associated with a Measured Mineral Resource is
sufficient to allow a qualified person to apply modifying factors,
as defined in this section, in sufficient detail to support
detailed mine planning and final evaluation of the economic
viability of the deposit. Because a Measured Mineral Resource has a
higher level of confidence than the level of confidence of either
an Indicated Mineral Resource or an Inferred Mineral Resource, a
Measured Mineral Resource may be converted to a Proven Mineral
Reserve or to a Probable Mineral Reserve.
Probable Mineral Reserve
Probable Mineral Reserve is the economically mineable part of an
indicated and, in some cases, a Measured Mineral Resource.
Proven Mineral Reserve
Proven Mineral Reserve is the economically mineable part of a
Measured Mineral Resource and can only result from conversion of a
Measured Mineral Resource.
Pre-Feasibility Study
A Preliminary Feasibility Study (or Pre-Feasibility Study) is a
comprehensive study of a range of options for the technical and
economic viability of a mineral project that has advanced to a
stage where a qualified person has determined (in the case of
underground mining) a preferred mining method, or (in the case of
surface mining) a pit configuration, and in all cases has
determined an effective method of mineral processing and an
effective plan to sell the product. A Pre-Feasibility Study
includes a financial analysis based on reasonable assumptions,
based on appropriate testing, about the modifying factors and the
evaluation of any other relevant factors that are sufficient for a
qualified person to determine if all or part of the Indicated and
Measured Mineral Resources may be converted to mineral reserves at
the time of reporting. The financial analysis must have the level
of detail necessary to demonstrate, at the time of reporting, that
extraction is economically viable. A Pre-Feasibility Study is less
comprehensive and results in a lower confidence level than a
feasibility study. A Pre-Feasibility study is more comprehensive
and results in a higher confidence level than an Initial
Assessment.
About American Battery Technology Company
American
Battery Technology Company (ABTC), headquartered in Reno, Nevada, has pioneered first-of-kind
technologies to unlock domestically manufactured and recycled
battery metals critically needed to help meet the significant
demand from the electric vehicle, stationary storage, and consumer
electronics industries. Committed to a circular supply chain for
battery metals, ABTC works to continually innovate and master new
battery metals technologies that power a global transition to
electrification and the future of sustainable energy.
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, risks and uncertainties related to the Company's ability to
continue as a going concern; 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, 2023. The
Company assumes no obligation to update any of the information
contained or referenced in this press release.
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SOURCE American Battery Technology Company