Mr. Larry Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or the “Company”), (TSX.V: AMY; OTCQB: AMYZF), is pleased to announce that Wardrop, A Tetra Tech Company (Wardrop), has been commissioned to conduct a NI43-101 compliant preliminary feasibility study for the Company’s Artillery Peak Manganese Project located in Mojave County, Arizona.
The preliminary assessment announced on August 9, 2010 showed that the conceptual project should be economically robust and could potentially become the worlds lowest cost producer of electrolytic manganese metal. Since then the Company has completed additional drilling and revised its NI 43-101 compliant resource estimate so that the Artillery Peak Manganese deposit is now estimated to contain an indicated resource of about 92.8 million tonnes grading 3.27% Mn (6.7 billion lbs contain Mn), and an inferred resource of about 107.2 million tonnes grading 3.76% Mn (8.9 billion lbs contained Mn).
“The preliminary feasibility study represents a major milestone in the project development process for Artillery Peak” says Mr. Reaugh. He goes on to say, “Wardrop will be intimately involved in the execution of the previously announced hydro-metallurgical pilot plant program so that the study can be completed by the 4th quarter of 2011.”
About Wardrop: (www.wardrop.com)
Wardrop is a multi – disciplined consulting and engineering firm that provides innovative solutions for the natural resource management, energy and infrastructure markets globally. Wardrop currently has 1,200 employees who work collaboratively throughout its North American and overseas operations.
Wardrop is part of Tetra Tech (www.tetratech.com) a leading provider of consulting, engineering, program management, construction and technical services. The combined companies have more than 12,000 employees worldwide and capabilities that span the entire project lifecycle. The company has more 330 offices worldwide, including locations in Arizona in close proximity to the Artillery Peak Project.
China controls electrolytic manganese production (EMM) supplying and producing 97.44% of the world’s needs (2.6 billion pounds per year).
There is no substitute for manganese in steel (total manganese market greater than 30 billion pounds per year, fourth largest traded metal).
Manganese is the most critical metal at risk to supply and restriction in the United States as there is no US production. EMM’s greatest uses are the upgrading of specialty steel (47%), and the manufacture of aluminum alloys (32%) and electronics (14%).
China has a 20% export duty on EMM and the US has a 14% import duty; (US Price $1.81/lb) the current world price for Electrolytic Manganese Metal is about $1.52/lb. Manganese resources are declining in China especially carbonate ores for production of EMM, forcing Chinese companies to seek production offshore.
The 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 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.