On the heels of JORC upgrade, ABR ramps things up at Fort Cady
American Pacific Borate and Lithium (ASX:ABR) has today updated the market on its progress advancing its 100 per cent owned Fort Cady Borate and Lithium Project in Southern California, USA.
Recently, ABR delivered a significantly upgraded JORC Mineral Resource Estimate for Fort Cady, increasing both tons and grade. The project resides in a highly prospective area for borate and lithium mineralisation. It is a highly rare and large colemanite deposit, with substantial lithium potential and is the largest known contained borate occurrence in the world not owned by the two major borate producers Rio Tinto and Eti Maden.
Overall, progress so far has been excellent, with ABR moving rapidly to advance onsite pilot plant testworks, enabling completion of its boric acid definitive feasibility study (DFS).
This puts ABR on track to complete the DFS early in the second half of the year. As part of the drilling program, one of the boreholes was converted into a test well for the purpose of reconfirming the in-situ mining ability of the ore body, noting 17 wells were created and extracted from in-pilot plant operations in the 1990s and 2000s.
Importantly, infrastructure within the pilot plant area is being added and upgraded to ensure the safety of all personnel assisting with the project. These upgrades will be beneficial to the construction of the initial commercial-scale operations.
Lithium testworks are also progressing well, with the third stage having been completed.
Because of its ability to quickly define a JORC-compliant Resource and completion of the initial scoping study, both of which were released in the fourth quarter of 2017, ABR has engaged potential strategic partners. The discussions relate to plans to optimise delivery of detailed engineering, plant and construction finance, debt and equity financing, product development, and, ultimately, offtake of its boric acid.
These initial discussions are progressing positively, and have increased ABR’s confidence in the strong demand for boric acid.
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
In further pleasing news, ABR has also employed a new environmental manager, Cindi Byrns, and expects to soon appoint two additional engineers based in Apple Valley in anticipation of upcoming works.
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.
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.