Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or the “Company”), (TSX.V: AMY; OTCQB: AMYZF; FSE: ID4), is pleased to announce that the Company has completed successful production of working lithium-ion battery prototypes utilizing chemical manganese dioxide (CMD) generated from Artillery Peak material. These prototypes (button cell batteries) are for test purposes only.
Mr. Reaugh says: “The button cell batteries were made in Kemetco Research Inc.’s (Kemetco) laboratory in Richmond, BC, and are the culmination of the research program we announced on March7, 2012. This represents a significant technical step forward in the Company’s pursuit of opportunities in the emerging rechargeable battery market.”
Producing working prototype lithium-ion batteries represents a key breakthrough for RecycLiCo Battery Materials in the continuing development of the Company’s patent
pending hydrometallurgical process. CMD manufactured with this process eliminates electrowinning and the need for any mechanical means of size reduction for the final product.
Kemetco’s president, Mr. Norman Chow says: “Mechanical size reduction is known to be a potential source of metallic impurities, which in turn is a major cause of catastrophic failure and explosion in lithium-ion batteries. Of further benefit, manganese is a low cost raw material in comparison to other lithium-ion battery chemistries. The goal is to produce reliable and safe products at an economic price point acceptable for the mass emerging rechargeable battery market. Optimization work is ongoing.”
The Company is pursuing the opportunity to produce CMD or Electrolytic Manganese Dioxide (EMD) from the Artillery Peak Project. Meetings and discussion with potential partners on the battery aspect of the business has indicated a need for more research and development. Several research grants for this type of work are available in the United States and Canada and the Company will be pursuing this avenue as well as seeking out a partner from the battery industry. The Company is reducing its overhead and staff as ongoing work is subject to further financing.
Mr. Reaugh goes on to say: “In summary, the Company has made significant progress and increased the asset value on the Artillery Peak Project over the past 14 months as follows:
- Resources and quality of resources have seen an impressive increase due to the 2011 drill program
Summary of Mineral Resources at .90% Cutoff
Indicated: 143,575,196 tonnes @ 2.98% Mn
Inferred: 54,700,239 tonnes @ 2.83% Mn
- NI 43-101 pre-feasibility study including successful pilot plant test moves the process from conceptual to a proven process.
- Average Electrolytic Manganese Metal (EMM) production cost of $1.02/lb.; which is $0.13/lb. less than the average cost of producing EMM in China at $1.15/lb.
- Kemetco has delivered its 600 page report that compiles and summarizes all of the pertinent process development work performed to-date to confirm the technical viability of the patent pending hydrometallurgical process up to the “proof of concept” pilot plant operation. A major advantage of RecycLiCo Battery Materials’s process is its inherent flexibility for making a variety of high value saleable products. Upstream solution purification is critical prior to precipitation of
manganese carbonate as an intermediate high purity feedstock for subsequent processing into either CMD, EMD, and/or EMM.”
- Successful production by Kemetco of EMD and CMD. As announced in this release, Kemetco has successfully produced lithium-ion battery prototypes from Artillery Peak CMD.”
About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a diversified specialty and critical metal Company focusing on potentially becoming a producer of high purity EMD and CMD for the battery
Kemetco is privately owned contract Research and Development Company specializing in extractive metallurgy, chemical processing and specialty chemical analysis. Kemetco was formed after the acquisition of the industrial process division of BC Research. BC Research had been in operation for over 60 years as a research and development contractor in British Columbia, Canada.
This release has been reviewed by John W. Fisher, PEng, a qualified person pursuant to National Instrument 43-101.
On behalf of Management
RecycLiCo Battery Materials
Larry W. Reaugh
President and Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Toronto Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.