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American Pacific posts Fort Cady resource

Borate and lithium resources totalling 93 million tonnes have been estimated at American Pacific Borate and Lithium’s (ASX: ABR) “world class” Fort Cady project in southern California, with scoping study results due this quarter.
American Pacific posts Fort Cady resource American Pacific posts Fort Cady resource American Pacific posts Fort Cady resource American Pacific posts Fort Cady resource American Pacific posts Fort Cady resource

Rigs at Fort Cady undertake confirmatory resource drilling

Staff reporter

The resource grades 6.3% borate and 0.037% lithium, with American Pacific saying it was targeting the identification of additional lithium resources outside of the defined borate resource. The ASX-listed company also said 86% of the resource was within a permit entailing commercial scale mining.

Completion of the bankable feasibility study by July next year is being targeted.

In October the company indicated the potential for pre-production capital expenditure in the range of US$80-90 million (including 25% contingency).

American Pacific listed five months ago following an A$15 million IPO that issued shares at 20c each.

Shares in the company were down 8% to 34.5c in afternoon trade, capitalising American Pacific at $58.5 million.