American Battery Metals Corporation (OTCMKTS:ABML) on Tuesday released updated information about its Railroad Valley, Nevada geophysical survey, noting the reservoir size vastly surpasses original estimates.
In a statement, the company said the survey’s primary objective was to determine the depth and locations of saline fluid-filled aquifers that may host rich lithium brines.
The survey consisted of 57 Magnetotelluric (MT stations) with profiles oriented east-west across the Railroad Valley basin and perpendicular to a known geologic structure of interest.
The survey results have successfully mapped the thickness of basin fill, and show the presence of very conductive layers that are typical precursors to saline aquifers, American Battery Metals said.
"The overall MT data quality is good to excellent. We've confirmed significant areas of high conductivity and an even larger undefined reservoir than originally thought," said CEO Doug Cole.
American Battery Metals said the data from the 57 MT stations is significant, pointing out that cross-sections of the vast Railroad Valley at depths of up to 2,000 meters provide sufficient resolution to serve as an important exploration tool for the purpose of locating additional drill targets.
The resource exploration and development company’s top focus is the establishment of a low cost, environmentally sound production base to supply the rapidly growing lithium-ion battery industry for both mobile devices and laptops, as well as the burgeoning electric-vehicle industry. It is based in Incline Village, Nevada.
American Battery Metals’ stock recently traded up 1.7% to $0.052 a share in New York.
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