- American Pacific Borates (ABR) lays exploration target for the Fort Cady Boron Resource to support resource drilling efforts scheduled for this year
- ABR evaluated the potential of four land parcels within the project by establishing an average grade across the areas
- The company is set to undertake eight to 10 drill holes at the project later this year in the hope of bringing the resource into the indicated category
- American Pacific Borates shares are up 5.11 per cent at 12:23 pm AEST to trade at $1.44
American Pacific Borates (ABR) has laid an exploration target for the Fort Cady Boron Resource in a bid to support resource drilling efforts scheduled at the site later this year.
ABR describes the exploration target as an estimate of a mineral deposit where there has been insufficient exploration to estimate a mineral resource.
The explorer evaluated the potential of four land parcels within the Californian project by establishing an average grade across the areas. However ABR noted it had made no estimates for the IMH and LMH horizons due to low grades.
According to ABR, newly established boron oxide grades could range from 5.32 per cent to 7.17 per cent, while boric acid could reach between 9.47 per cent and 12.76 per cent.
American Pacific has indicated it would commence drilling eight to 10 drill holes in the 2021 closing quarter in the hopes of bringing the resource into the indicated category.
The company said further drills would be required should it wish to up the resource to a higher category from there.
Incoming Chief Executive Officer Henri Tausch is set to oversee these upcoming activities and will commence August 9.
American Pacific Borates shares were up 5.84 per cent at 12:23 pm AEST to trade at $1.45.