ABTC issues new estimate at Nevada project

Further positioning itself as a future domestic supplier of battery materials, American Battery Technology Company announced a substantial expansion of resources at its Tonopah Flats lithium project in Nevada.

The Tonopah Flats lithium project encompasses one of the largest known inferred lithium claystone deposits in the United States.

While ABTC only began exploration of this lithium deposit in Nevada's Big Smoky Valley in 2021, the company has quickly turned out an inferred resource estimate to shed some light on this highly prospective region.

According to its previous SK-1300-compliant calculation, Tonopah Flats hosted 5.29 million metric tons of combined measured, indicated, and inferred resources averaging 561 parts per million (15.8 million metric tons) of economically accessible lithium on a carbonate-equivalent basis.

With the results from its third drill program, Tonopah Flats is now calculated to host 6.09 million metric tons of resources averaging 574 ppm lithium carbonate-equivalent.

Overall, this is a roughly 17% increase from the previous assessment.

"We are proud to have both further increased the total size of this critical material lithium resource through our step-out exploration, and, through our strategic infill drilling, to have evolved the majority of this resource up to the measured and indicated classifications," said American Battery Technology Company CEO Ryan Melsert. "This is an important milestone in the commercialization of this deposit, and combined with the current construction and installation of our integrated pilot system for the continuous demonstration of the manufacturing of battery grade lithium hydroxide from this unconventional lithium resource, we are excited to continue the rapid development and commercialization of these first-of-kind technologies."

ABTC also reports that approximately 54% of the resource is now classified in the higher confidence measured and indicated categories, which bodes well for future development and commercialization of the project.

"The data from this third drill program's additional eight core holes has resulted in increased level of confidence towards pre-feasibility and bankable feasibility status," stated ABTC Chief Mineral Resource Officer Scot Jolcover. "I am pleased with the updated report and excited to continue accelerated development of this resource by furthering progress with the recommended next steps."

Given the successful drill programs over the years, ABTC states that the deposit still remains unexplored and open to the south, southwest, and at depth, allowing for potential expansion with further drilling.

The company says the resources outlined at Tonopah so far is already enough to support a mining and processing operation capable of producing 33,000 lithium hydroxide per year for more than 400 years.