American Battery Technology Company (OTCQX: ABML) is a critical battery materials company, which is focused on sourcing low-cost, low-environmental impact battery metals through its three businesses: lithium-ion battery recycling, primary battery metal extraction technologies and resource development. Shares of the Reno, Nevada-based critical materials company rallied 32.28% during trading on Tuesday, February 28, 2023. Over the past thirty days, American Battery Technology has seen average daily volume of 1.42 million shares. However, volume of 15.14 million shares or dollar volume of around $12.72 million, exchanged hands during the day’s trading.
Shares of American Battery Technology Company jumped after the company announced the results of its third-party qualified person-audited Inferred Resource Report, which covers analysis of the lithium deposit located at its Tonopah Flats Lithium project in Big Smoky Valley, Nevada. The report estimates an inferred resource of 15.8 million tons of lithium carbonate equivalent, making the project home to potentially one of the largest known lithium deposits in the United States.
The Tonopah Flat project features 517 unpatented lode claims covering roughly 10,340 acres. American Battery Technology owns 100% of the claims to the property without any royalties. The critical materials company initially began surface sampling the property during the Summer of 2021. American Battery Technology would later perform several drilling programs totaling 12,000 feet of exploration across 65% of the property.
The company turned to third-party qualified person, RESPEC, LLC, to perform an unbiased analysis of the data from the Inferred Resource Report on the Tonopah Flats project in accordance with SEC Regulation S-K 1300.
RESPEC, LLC determined the inferred resource at the Tonopah Flats project to be a potentially massive source of domestically-produced lithium. Leaching trials demonstrated that over 90% of the lithium deposit can be extracted from the property claystone within a few hours.
“Having identified one of the largest premier lithium deposits in the U.S. is extremely exciting,” stated ABTC CEO Ryan Melsert. “However, the identification of an inferred resource in and of itself is not enough to address our critical challenges of increasing our domestic production of critical battery metals, reducing the costs of manufacturing of these battery metals, and decreasing the environmental impacts of their production.”
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