Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials, (TSX.V: AMY; OTCQB: AMYZF) (“RecycLiCo Battery Materials” or the “Company”) is pleased to report the Company has received results from the first five (5) drill holes.
The mineralization at Artillery Peak Mohave County, Arizona takes the form of paleo-alluvial fans spreading out down slope from a number of source vents. The source vent and the down slope fan at the MacGregor Open Pit area is the first of several targets to be defined by the present drilling program. Early work in the 1940’s located most of these fans but little was done to define and measure this mineralization. The definition and evaluation of these various fans is the object of the present drilling program.
The company initiated a fill-in or definition drilling program on March 18, 2010. The drilling program will use reverse circulation drilling techniques as the mineralization is disseminated and uniform. The reverse circulation drilling is more economic than core drilling and will provide the information needed to evaluate the deposit. This drilling program is estimated to require 15,885 meters (52,000 ft) of drilling in 191 holes.
This increased hole pattern density will provide sufficient information to upgrade the status of the current resources from indicated and inferred to measured and indicated. Some increase in the size of the resource is expected as the fans are more fully defined.
To date 18 holes have been completed and results for the first five holes are shown in the following table. The drilling program was started near the southwestern end of the MacGregor fan and is moving toward the center. As a result the assays in this fringe area are slightly below the expected average for the deposit.
Assays were performed by ALS Chemex in Sparks, Nevada. Further results will be reported as they are received.
The Artillery Peak manganese project has a NI-43-101 Resource Study at a 0.91% Mn cut-off.
The manganese resource remains open in all directions.
• China controls electrolytic manganese production (EMM) supplying and producing 97.44% of the worlds needs (2.6 billion pounds per year).
• There is no substitution for manganese in steel (total manganese market greater than 30 billion pounds per year, fourth largest traded metal).
• The most critical metal at risk to supply and restriction in the United States. No US production.
• EMM’s greatest uses are upgrading specialty steel 47%, manufacture of aluminum 32% and electronics 14%.
• China has a 20% export duty on EMM and the US has a 14% import duty, world price is $1.33/lb. and US price is $1.68/lb.
• Manganese resources are declining in China.
• Overall manganese market grew at 8% per year to 30 billion pounds up to 2008. EMM market grew at 26% per year from 2003 – 2008 to 2.6 billion pounds per year.
About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a diversified specialty and critical metal Company focusing on potentially becoming the lowest cost producer of electrolytic manganese from its Arizona Manganese Project.
This release has been reviewed by Norman L. Tribe, P.Eng. 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.