American Battery Materials Receives Approvals to Reenter Exploration Well in Utah
American Battery Materials (OTC PINK:BLTH) has received agency approvals to reenter the Peterson Fed 88-21P well bore in southeast Utah, pending financial guarantee. The approvals came from the Bureau of Land Management (BLM) and the Utah Department of Natural Resources Division of Oil, Gas, and Mining (DOGM). The Company plans to focus on the Lisbon Valley project in 2025, advancing its direct lithium extraction capabilities to support domestic critical minerals demand. Both agencies deemed the Company's notice complete and compliant, requiring only final surety arrangements.
American Battery Materials (OTC PINK:BLTH) ha ricevuto approvazioni agenziali per riatterrare nel pozzo Peterson Fed 88-21P nel sud-est dello Utah, in attesa di una garanzia finanziaria. Le approvazioni sono state conferite dal Bureau of Land Management (BLM) e dal Utah Department of Natural Resources Division of Oil, Gas, and Mining (DOGM). La società intende concentrare i suoi sforzi sul progetto Lisbon Valley nel 2025, migliorando le sue capacità di estrazione diretta del litio per supportare la domanda interna di minerali critici. Entrambe le agenzie hanno ritenuto che l'avviso della società fosse completo e conforme, richiedendo solo le disposizioni finali per la garanzia.
American Battery Materials (OTC PINK:BLTH) ha recibido aprobaciones de las agencias para volver a entrar en el pozo Peterson Fed 88-21P en el sureste de Utah, a la espera de una garantía financiera. Las aprobaciones provienen del Bureau of Land Management (BLM) y del Utah Department of Natural Resources Division of Oil, Gas, and Mining (DOGM). La empresa planea enfocarse en el proyecto Lisbon Valley en 2025, mejorando sus capacidades de extracción directa de litio para apoyar la demanda interna de minerales críticos. Ambas agencias consideraron que el aviso de la empresa era completo y cumplía con los requisitos, solo requiriendo los arreglos finales de la garantía.
American Battery Materials (OTC PINK:BLTH)는 재정 보증이 필요한 남동부 유타의 Peterson Fed 88-21P 우물에 재진입하기 위한 기관 승인을 받았습니다. 이 승인은 토지 관리국 (BLM)과 유타 자연 자원부 석유, 가스 및 광업 부서 (DOGM)으로부터 승인되었습니다. 회사는 2025년에 리스본 밸리 프로젝트에 집중할 계획이며, 국내 주요 광물 수요를 지원하기 위해 직접 리튬 추출 능력을 강화할 것입니다. 두 기관 모두 회사의 통지가 완전하고 준수하다고 판단하였으며, 최종 보증 준비만이 필요하다고 밝혔습니다.
American Battery Materials (OTC PINK:BLTH) a reçu des approbations d'agence pour réintégrer le puits Peterson Fed 88-21P dans le sud-est de l'Utah, sous réserve d'une garantie financière. Les approbations proviennent du Bureau of Land Management (BLM) et du Utah Department of Natural Resources Division of Oil, Gas, and Mining (DOGM). La société prévoit de se concentrer sur le projet Lisbon Valley en 2025, améliorant ses capacités d'extraction directe de lithium pour soutenir la demande nationale en minéraux critiques. Les deux agences ont jugé que l'avis de la société était complet et conforme, ne nécessitant que des arrangements finaux de garantie.
American Battery Materials (OTC PINK:BLTH) hat von den Behörden Genehmigungen erhalten, um in den Peterson Fed 88-21P-Brunnen im Südosten Utahs zurückzukehren, vorbehaltlich einer finanziellen Garantie. Die Genehmigungen stammen vom Bureau of Land Management (BLM) und vom Utah Department of Natural Resources Division of Oil, Gas, and Mining (DOGM). Das Unternehmen plant, sich im Jahr 2025 auf das Projekt Lisbon Valley zu konzentrieren und seine Fähigkeiten zur direkten Lithiumextraktion auszubauen, um die inländische Nachfrage nach kritischen Mineralien zu unterstützen. Beide Behörden hielten die Mitteilung des Unternehmens für vollständig und konform und benötigten nur noch die endgültigen Sicherheiten.
- Received regulatory approvals from BLM and DOGM for well bore reentry
- Confirmation of deposits in existing Peterson Fed 88-21P well bore
- Project ready to proceed pending financial guarantee
- Financial guarantee requirement still pending
- No immediate revenue generation potential disclosed
GREENWICH, CT / ACCESSWIRE / November 22, 2024 / American Battery Materials, Inc. (OTC PINK:BLTH) ("ABM" or the "Company"), a U.S. based renewable energy company focused on the extraction, refinement and distribution of technical minerals in an environmentally responsible manner, announced today that the Company has received necessary agency approvals to reenter the Peterson Fed 88-21P well bore in southeast Utah, pending the required financial guarantee.
David Graber, CEO of American Battery Materials, stated, "We are excited to be resuming exploration activities in Utah, and we believe the project has great potential with the confirmation of deposits in the existing Peterson Fed 88-21P well bore. Lisbon Valley will be our immediate focus moving into 2025."
These approvals come following detailed reviews by the Bureau of Land Management (BLM) and the Utah Department of Natural Resources Division of Oil, Gas, and Mining (DOGM). According to the BLM's decision, the Company's Notice was deemed complete and compliant with regulations, requiring a financial guarantee to ensure proper reclamation. Similarly, DOGM's tentative approval affirmed readiness for the project, contingent on final surety concurrence.
This milestone underscores the Company's commitment to advancing its direct lithium extraction (DLE) capabilities in an environmentally responsible manner, supporting the growing demand for domestic critical minerals.
About American Battery Materials
American Battery Materials, Inc. is a U.S.-based environmentally responsible critical minerals exploration and development company focused on direct lithium extraction (DLE), as well as other minerals for refining, processing and distribution to support the country's urgent critical minerals need to bolster long-term energy transition and the electrification of the U.S. domestic and global economy.
To receive American Battery Materials, Inc. company updates via email, visit the contact page of our website, www.americanbatterymaterials.com/contact.
Forward-Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding the Company, they are forward-looking statements reflecting the current beliefs and expectations of management. Words such as "believe," "goal," "plan," "feel," "may," "will," "expect," "anticipate," "estimate," "intend," "target" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause our future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and its Quarterly Reports on Form 10-Q, including but not limited to the discussion under "Risk Factors" therein, which the Company has filed with the SEC and may be viewed at http://www.sec.gov.
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This press release shall neither 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 jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Investor Relations Contact
Ira M. Gostin
IR@AmericanBatteryMaterials.com
775-391-0213
SOURCE: American Battery Materials
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FAQ
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What is pending for BLTH to begin well bore reentry operations in Utah?
