International Battery Metals Ltd Lisencee Sorcia Minerals LLC Announces Expansion of Salar De Maricunga Chile Interest
VANCOUVER, Aug. 30, 2021 - International Battery Metals Ltd. (the "Company") (CSE: IBAT) (FSE: 8RE) The Company has been provided with an update from Sorcia Minerals LLC ("Sorcia Minerals") whereby its subsidiary Sorcia Chile SPA ('Sorcia") has reached an agreement with RJR SALAR SPA (RJR) to exploit an additional 6,900 hectares for lithium in the Maricunga salar, in the Atacama Region using IBAT's innovative sustainable technology. This brings Sorcia Minerals' exploitable acerage to approximately 9,000 hectares.
IBAT has a 10% interest in Sorcia and continues to work with Sorcia on the construction and introduction of its innovative and highly sustainable technology into Chile. Once Sorcia has obtained appropriate environmental permits, IBAT's extraction units will be deployed at the salar to begin commercial lithium production. IBAT's innovative technology provides numerous advantages including;
- Superior lithium extraction efficiency, greater than 95% recovery of lithium chloride in the brine.
- Minimal water consumption. IBAT's process is designed to recycle greater than 98% of its process water.
- Minimal chemical inputs. Other than minor acid and base requirements for pH control, IBAT's process does not require industrial chemicals in its recovery process.
- Rapid installation of extraction facilities
- Short time to production
When fully deployed, IBAT's process will provide the highest lithium recovery efficiency, with the lowest environmental footprint in the industry which allows the extraction of lithium, while reinjecting over 90% of the extracted brine in its natural state, minimizing the consumption of fresh water and using mobile and modular plants that are less invasive to the land.
The "selective absorption" lithium technology was first co-invented in the late 1980´s by Dr. John Burba, CEO of IBAT, and the latest version of Dr Burba's proprietary technology allows for a much more efficient extraction than methods currently in use, reducing the carbon footprint, drastically reducing the use of water and brine in the salar and protecting the surrounding ecosystem.
The growing demand for lithium, driven by electromobility, demands the use of cleaner technologies that ensure the preservation of resources and guarantee the living conditions of local communities, already challenged by the scarcity of water resources.
The initial exploratory work will be carried out in conjunction with the University of Santiago De Chile (USACH), Sorcia's strategic partner for research, development, and implementation of new sustainable mineral exploitation technologies.
Dr Burba stated "This expansion of the Maricunga salar is another important step in implementation of our technology on a large world class resource in Chile.
ON BEHALF OF THE BOARD
"Dr. John Burba"
Dr. John Burba, President CEO &
Director
Tel: (778) 939-4228
Forward-looking and cautionary statements
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
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