VANCOUVER, March 31, 2023 - International Battery Metals Ltd. (the "Company") (CSE: IBAT) (OTC: IBATF) (FSE: 8RE), announces it can fully meet the Chilean government's requirement that all new lithium recovery projects use a Direct Lithium Extraction (DLE) methodology.
Chile now requires use of a DLE means of lithium extraction in order to reduce loss of precious water resources. DLE technologies are more water efficient than traditional extraction methods, but are currently not used in Chile. Global scarcity, water misuse, and waste of water have had extremely detrimental effects on land, vegetation, animals and people.
This month, the Chilean National Patent Office issued a Notice of Allowance for IBAT's patent for its mobile, modular mineral extraction system "Modular System for Extraction of Elements from Brine Solutions." This allowance from INAPI (the Chilean National Institute of Industrial Property) assures investors that the unique benefits of IBAT's technology are protected.
Inherent elements of IBAT's breakthrough DLE technology make it ideal for lithium processing in areas where water resources are scarce. IBAT's unique DLE technology is the only type of DLE that minimizes water waste to this extent:
- Water: IBAT recycles up to 94% of fresh water used in processing. In addition, essentially all extracted brine is put directly back into the ground where it came from. The dual conservation features of the system result in very little water waste.
- Chemicals: IBAT does not use chemicals for processing and therefore uses does not use resources for chemical handling
- Waste: IBAT generates no waste from chemical, industrial or extraction byproduct sources, so there are no disposal issues
- Efficient: IBAT's technology is highly efficient in achieving at least 68% recovery of lithium, and due to its efficient technology design, the plant uses a minimal amount of energy for processing needs.
- Land protection: IBAT's processing plant has a very small footprint which creates minimal impact on the land and surrounding area
Chile has massive lithium resources but the challenge is recovering lithium without decimating the environment. Salt flats have previously been used in Chile to extract lithium. The flats are massive ponds created to stretch across hundreds of thousands of acres, and are flooded with salt water brine pumped from the earth. The brine sits for a year or more until the water evaporates, leaving salt and lithium behind for processing. This technique wastes billions of liters of water in one of the driest places on earth, and is extremely destructive to the land.
Last year, Chilean contracts previously awarded to companies were rescinded amid growing resource nationalism and a push to introduce less polluting production techniques.
IBAT's modular DLE system is available for placement in Chile as well as other locations that can benefit from clean, efficient, sustainable extraction.
International Battery Metals (IBAT) is the fastest lithium processing company, and has the only patented technology able to achieve commercial scale production in just 18 months. IBAT's proprietary Modular Direct Lithium Extraction technology is proven to quickly and efficiently recover more lithium from brine than traditional methods, while offering safe, superior and sustainable environmental performance. By bringing more lithium to more partners, we are accelerating a bright future for electric vehicles.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.
Forward-looking and cautionary statements
This press release shall not 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 state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. There is no assurance that the company's apparatus will be able to commercially produce lithium at the stated capacity. The purpose of the tests is to determine if it will be able to do so and successful completion of the tests cannot be assured as they are subject to risks and uncertainties associated with any new mineral processing method and characteristics of the material being processed.
By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
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SOURCE International Battery Metals Ltd.