ABR releases Maiden JORC Estimate for Californian borate-lithium project

Published at Dec 12, 2017, in Mining

American Pacific Borate & Lithium (ASX:ABR) has announced its maiden JORC (2012) Compliant Mineral Resource Estimate for its 100%-owned lithium and borate Fort Cady Project in Southern California, USA.

The Total Resource for Fort Cady is now 93.0 million metric tonnes at 6.3% B2O3 (11.3% Boric Acid equivalent1 [H3BO3]) and 374 parts-per-million Lithium (5% B2O3 cut-off) for 5.9 million tonnes contained B2O3 (10.5 million tonnes H3BO3).

In total, Fort Cady has an Indicated Resource of 50.95 million tonnes at 6.42% B2O3 (11.42% H3BO3) and 398 ppm Lithium (5% B2O3 cut-off grade) for 3.27 million tonnes contained B2O3 (5.82 million tonnes H3BO3); and an Inferred Resource of 42.08 million tonnes at 6.26% B2O3 (11.14% H3BO3) and 346 ppm Lithium (5% B2O3 cut-off) for 2.64 million tonnes contained B2O3 (4.69 million tonnes H3BO3).

The most significant results of all the above is the fact that ABR now has confirmation that it is sitting on a resource containing over 10 million tonnes of boric acid (H3B03).

As Finfeed has reported previously, ABR’s main focus is its boric acid strategy. An initial testwork program indicated excellent boron recovery rates are possible, at relatively low temperatures and with modest acid consumption, for the boric acid mineralisation contained at Fort Cady.

Promisingly, recent exploration has indicated that mineralisation at Fort Cady remains open to the southeast. 86 per cent of the total Estimate is contained within an Operating Permit region managed by ABR subsidiary, Fort Cady California Corp (FCCC) — which means the company is entitled to conduct commercial-scale mining of the deposit.

It should be noted here that ABR is in the early stages here and investors should seek professional financial advice if considering this stock for their portfolio.

ABR is also continuing its lithium exploration and extraction at the project, with the aim of identifying additional lithium resources outside of the defined borate resource.

This is further explained in our recent Q&A with ABR Executive Director Anthony Hall.

american pacific question and answer

In relation to today’s announcement, ABR CEO Michael Schlumpberger said: “We are very pleased to release a JORC Maiden Resource containing more than 10 million tonnes of boric acid with upside that has been successfully delivered under five months since listing on the ASX.

“The average thickness of the borate mineralisation is very encouraging suggesting our solution mining strategy will be effective. We are confident this maiden JORC MRE will support our project production targets that we expect to release shortly within our Scoping Study. We continue to believe this is a world-class borate-lithium project.”

The below table provides a summary of the JORC 2012 Mineral Resource Estimate at Fort Cady:

abr jorc resource

Source: American Pacific Borate & Lithium

ABR will now look to complete its Scoping Study at Fort Cady by the end of CY2017, as well as complete further confirmatory Resource drilling to go towards a planned upgrade of its current JORC (2012) Estimate.

At the same time, the company will look to complete its lithium brine drilling (with currently two of six holes completed) and continue its evaluation of the lithium potential at Fort Cady. All the above activity should ultimately help the company to advance towards an all-important Definitive Feasibility Study, with completion pegged for July 2018.

fort cady project

Source: American Pacific Borate & Lithium

tags

LITHIUM

S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X