(International Battery Metals, 11.Jan.2022) — International Battery Metals Ltd. (CSE: IBAT) (OTC: RHHNF) (FSE: 8RE) announced that Ensorcia Metals Corporation affiliate Sorcia Minerals LLC formed a joint venture with Terra Novo Energy, Triangle Lithium LLC, for the purpose of acquiring and developing specific assets related to the exploration and development of lithium. Triangle through its affiliation with Sorcia, will develop lithium resources utilizing International Battery Metals’ proprietary direct lithium extraction technology.
Triangle’s initial project is located in the world-class Salar de Antofalla in Argentina on 15,000 hectares of claims acquired by Global Oil Management Group from Lithium Energi Exploration Inc. Development is to commence immediately. “
Ensorcia has an exclusive license to utilize IBAT’s technology in Argentina and Chile.
The company has substantially completed the construction of its first lithium extraction unit. The system modules are currently being heat traced and insulated. The company expects the final assembly and testing to take place in March in the US prior to deployment to South America.
The company announced that it has granted, pursuant to its Stock Option Plan, options to purchase 300,000 shares exercisable for a period of 5 years at $3.94 per share to an employee of the company.
Dr. John Burba stated that “we are extremely excited about the progress made to date under challenging supply chain issues and now look forward to the commencement of testing and the future deployment into the field of the unit”
IBAT is an advanced technology company focused on lithium brine extraction. The company is in the process of creating and applying intellectual property related to lithium extraction from brines.
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