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American Pacific Borate and Lithium Ltd.
Summary
| Project: | Fort Cady | |
|---|---|---|
| Deposit: | Fort Cady | |
| Location: | United States | |
| Commodities: | Boron-Lithium | |
| Date: | 12/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-12-2018: American Pacific Borate and Lithium Ltd. announces a Resource Estimation report for its Fort Cady deposit at the Fort Cady project. Upgraded Mineral Resource for Fort Cady. American Pacific Borate and Lithium Limited (ASX:ABR) (“ABR” or the “Co | |
| Resources: | (Resource, Total): 120.44Mt @ 6.51% B2O3, 11.57% H3BO3, 344ppm Li at project | |
| CP/QP: | [Resources]: Louis Fourie (Terra Modelling Services Inc.) | |
| ABSTRACT: | American Pacific Borate and Lithium Limited (ASX:ABR) (“ABR” or the “Company”) is pleased to announce an upgraded JORC compliant Mineral Resource Estimate (“MRE”) for its Fort Cady Borate Project in California, USA. The upgraded MRE moves previously defined Indicated Resources into Measured Resources. Under the JORC Code, Mineral Resources are defined in categories of increasing geological confidence, with measured establishing the highest degree of confidence. The indicated category establishes the second highest level of confidence with inferred the lowest level of confidence. The MRE was upgraded as a result of detailed examination of the previous production figures indicating that sustained production is possible from the deposit based on the cut-off grade utilised by the Duval Corporation (the company that mined the deposit in the 1980s). This was supported by additional testing completed by the Company that was carried out during the current Calendar Year that confirmed the lateral consistency of the mineralisation, as previously shown by the geological modelling. These two considerations enabled the Competent Person to have an increased degree of confidence with respect to the MRE. ABR’s CEO and Managing Director, Michael Schlumpberger, commented: “The upgraded JORC compliant Mineral Resource Estimate moves approximately one third of the Fort Cady Borate Project Resource into a measured category – representing total contained boric acid of 4.63 million tonnes. This is a globally significant measured borate resource that will serve to underpin what we expect to be a a very compelling DFS due to be completed and released shortly. This upgrade continues to reinforce our goal of becoming a globally significant producer of borates.” | |
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