Lithium Extraction Technology
International Battery Metals, Inc. has to access to North American Lithium Inc.’s (NAL) lithium extraction technology that would allow it to become the lowest cost producer of lithium using this proven and proprietary lithium extraction process from oilfield and geothermal brines. NAL’s lithium extraction technology is expected to extract and produce lithium products, including lithium chloride, lithium carbonate, and lithium hydroxide at costs lower to current low-cost lithium producers such as Albermarle, SQM, and FMC. Lithium carbonate and lithium hydroxide are essential components for the manufacture of lithium ion batteries. Lithium chloride is an intermediate product used primarily as feedstock for the refining of lithium carbonate, and lithium hydroxide.
NAL’s team has over 100 years of experience in mineral extraction from Brine, including large-scale lithium extraction using a prior version of this technology. The lithium extraction technology uses processing equipment with a small footprint that utilizes readily available equipment & consumables enable 50% lower costs. The modular structure and readily available equipment enables the time to first production is 3X lower than competing technologies.
An essential part of our strategy is to differentiate ourselves from the pack of lithium-oriented venture-stage companies by quickly going to the production stage using the NAL Technology. None of the other small resources companies engaged in lithium resource identification and acquisition has a viable process for extracting lithium on a commercial basis from a North American source in any reasonable time frame (i.e. less than five years). Most of the current processes are not proven; and hence have an inherent risk of being able to scale the technology to a commercial facility capable of delivering lithium products on a competitive cost basis.
Illinois Carper Lithium Brine
International Battery Metal has entered into an Option for Purchase and Sale Agreement (“Option Agreement”) with Woodbury Resources, LLC of Denver, CO, and Bi-Petro, Inc. of Springfield, Illinois. The Option Agreement allows International Battery Metal to purchase 37,500 acres previously leased for oil, gas and lithium extraction by Woodbury and Bi-Petro in the ‘Woodbury Carper Lithium Resource Project’ located primarily in Cumberland and Jasper Counties, Illinois.
The Project represents a lithium resource development opportunity at shallow drilling depths (less than 4,000 feet) in the heartland of the United States, located on fee acreage that is easy to permit and drill, with several existing wells capable of producing large volumes of lithium-rich brine. Assets that would be included under the Option Agreement include three wells, of which two are producing, and the third is not yet completed. The assets also include a permitted salt water disposal well, which may be used to dispose of the brines after extracting lithium. The Project is located in Cumberland and Jasper Counties, Illinois.
The zone of interest in the Project is the Mississippian-age Carper Sandstone, a known oil and gas producing zone in the State of Illinois. The optioned property covers an accumulation of Carper Sandstone that was deposited in an ancient delta referred to as the “Woodbury Carper Delta”. The Delta has extensive accumulation of sandstone intervals that are believed to hold a large resource of brine.
The lithium was discovered as a result of Bi-Petro drilling three exploratory wells in the search for oil and gas from the New Albany Shale and Carper Sandstone. All three wells had significant shows of oil in the Carper Sandstone at 3,600-3,800 feet and shows of gas in the New Albany Shale at 4,000-4,100 feet, which led Bi-Petro to set production casing and test the wells. Two wells that are included in the Project assets produced brine from the Carper Sandstone that have been tested for lithium content and had readings from known and credible laboratories measured at 108 ppm and 243 ppm. The Company plans to conduct additional testing and laboratory evaluation of the existing producing Project wells using methods that are NI 43-101 compliant, and make a decision whether to proceed with the acquisition and development of the property.
Bygoo Tin Project
International Battery Metals, Inc., has secured rights to acquire 75% in 3 mineral tenements covering approximately 540 km2 comprising the Bygoo Tin project located in the central area of the state of New South Wales, Australia from Thomson Resources. Thomson has had early success in discovering a new tin deposit in the Ardlethan tin field at Bygoo North.
Two drilling rounds by Thomson in 2015 at Bygoo North, 7km north of the Ardlethan mine, have seen outstanding drill results and a better understanding of the geometry of these steeply dipping greisens. Best intercepts to date include 35m at 2.1% Sn from 44m (BNRC11), 10m at 2.0% from 108m (BNRC 13), and 13m at 1.0% Sn from 66m (BNRC 10). Drilling for a JORC resource is planned.
Oilfield Brine for Lithium
International Battery Metals is working with several partners to secure access to oilfield brine sources that are ideal for lithium extraction.