Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or “AMY” or the “Company”), is pleased to announce the initiation of rock and soil geochemical surveys on the Company’s 100% owned Lonnie rare earth element and niobium project. The mining claims are located approximately 6 kilometers east of Manson Creek (300 kilometers northwest of Prince George, BC). The Lonnie property features aegirine and biotie sovite (calcium-rich carbonatite) with accessory apatite, magnetite, zircon and minor pyrochlore, pyrite, pyrrhotite, and columbite.
In 1955, Kennecott Explorations completed trenching on the Lonnie and outlined a zone approximately 480 X 15 meters in area with niobium mineralization (MEMPR Property File, 1960). The carbonatites also contain enriched rare earth elements and zircon. Fieldwork in 2019 on the Lonnie property included 39 rock, and 124 soil samples being taken from a 1,000 X 400 meter area adjacent to the Wolverine Fault. Eleven out of 39 rock chip samples are currently being re-analyzed due to cerium, niobium, and neodymium values being above detection limits. Four out of 124 soil samples are also being re-analyzed due to cerium values being above detection limits. Results of rock and soil sample geochemical sampling will be announced when laboratory results are completed.
“Both the rare earths and niobium are now listed as Critical Minerals by the U.S. Government,” noted Larry Reaugh, CEO of RecycLiCo Battery Materials. Inc. “And for both of them, the U.S. is presently 100% import-dependent, which underscores for us the importance of developing potential new North American sources of supply.”
In addition to the mining claims, The Company’s patented lithium-ion battery recycling process, RecycLiCo™, has the potential to supply additional minerals such as cobalt, lithium, nickel, and manganese. New results from the RecycLiCo™ Pilot Plant are expected shortly.
The technical information in this news release has been reviewed and approved by Andris Kikauka, P. Geo, who is the Qualified Person supervising the fieldwork and reporting geochemical analysis results from the Lonnie rare earth project.
About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at battery grade purity, with minimal processing steps. RecycLiCo Battery Materials aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.
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.