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American Pacific Borate and Lithium Ltd.
Summary
| Project: | Fort Cady | |
|---|---|---|
| Deposit: | Fort Cady | |
| Location: | United States | |
| Commodities: | Boron-Lithium | |
| Date: | 12/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-12-2017: American Pacific Borate and Lithium Ltd. announces a Resource Estimation report for its Fort Cady deposit at the Fort Cady project. Initial Mineral resource for the Fort Cady Project. American Pacific Borate and Lithium, (ASX: ABR) (“APBL”, or | |
| Resources: | (Resource, I+I): 93Mt @ 6.3% B2O3, 11.3% H3BO3, 374ppm Li at project | |
| CP/QP: | [Resources]: Louis Fourie (Terra Modelling Services Inc.) | |
| ABSTRACT: | American Pacific Borate and Lithium, (ASX: ABR) (“APBL”, or “the Company”) is pleased to announce its maiden JORC (2012) Compliant Mineral Resource Estimate for its 100%-owned Fort Cady Borate and Lithium Project (“the Project”) in Southern California, USA. “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. A summary table of JORC Compliant Mineral Resource Estimate is provided below. Figure 1 displays the location of the MRE in relation to the Fort Cady Land Titles and Operating Permit area. Appendix A to this release contains a more detailed version of the Mineral Resource Estimate that includes JORC Table 1. American Pacific Borate and Lithium Limited is focused on advancing its 100%-owned Fort Cady Boron and Lithium Project located in Southern California, USA (Figure 2). Fort Cady 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. More than US$50m has historically been spent at Fort Cady, including resource drilling, metallurgical test works, well injection tests, permitting activities and substantial pilot-scale test works. | |
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