Next Investors logo grey

ABR continue to deliver positive results in southern California

Published 17-NOV-2017 10:03 A.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Following on from the excellent results released last week, American Pacific Borate and Lithium (ASX:ABR) today released further positive results stemming from drilling at its 100 per cent owned Fort Cady lithium project in southern California.

The Fort Cady project sits on the California-Nevada border in close proximity to Rio Tinto’s Borax operation to the west, and Nirma’s Searles Lake deposit to the north-west.

Next Investors Image

ABR has taken a strategic position in the area, with Nevada considered to be a springboard for several energy storage focused companies including the likes of Tesla.

ABR has only been trading since July, but has been hard at work from the get-go. Its latest results confirm borate mineralisation and continues the trend of identifying higher than anticipated lithium mineralisation within the borate-hosting formation.

It should be noted here that ABR remains a speculative stock and investors should seek professional financial advice if considering this stock for their portfolio.

Indicated in the table below are the assay highlights from the recent drilling programme.

Table 1. Assay highlights from recent drilling at the Fort Cady Project.

drill hole results

drill hole results

Note: Drill hole is vertical and downhole intersections are approximately true widths. Headline intersection calculated at >5% B2O3% within previously identified solution mining zone. Boric acid (H3BO3) calculated as B2O3% x 1.78.

Six resource drill holes are now complete, with assay results from three additional drill holes still pending. Water samples have also been submitted for analysis from a lithium brine drill hole with assay results pending.
Management’s expectations are high following these results. The current 6800 metre drilling programme is designed to confirm the historical mineral estimate defined on the project during the 1980s.

Commenting on today’s announcement, ABR Managing Director and CEO, Michael Schlumpberger said: “We are excited about the drilling program for two reasons: 1. it is confirming the large historic borate resource and 2. we are intersecting higher than anticipated lithium mineralisation. It all bodes well for a very compelling mining operation.”

The presence of lithium is significant for the company and further highlights the potential of the project and opportunity for lithium by-product credits. Importantly, ABR believes the historical drill assays may be underreporting the grade of the mineralisation.

With just four weeks to Christmas, ABR still has a lot of news to flow to come from the project. Assays are pending for its confirmatory resource drilling with six of 14 holes completed, as well as its lithium brine drilling, with one of six holes completed.

Furthermore, ABR commenced drilling on its borehole for pilot-scale leaching test work, while at the same time test work on leaching lithium from the borate mineralisation has commenced on core samples.

Definition of a maiden JORC (2012) Mineral Resource Estimate and Scoping Study on the borate project is targeted for release in Q4 CY17.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.