American Pacific Borate & Lithium Ltd.'s JORC-compliant resource at its Fort Cady borate-lithium project in Southern California increased 30% in tonnes and 3% in the boron trioxide grade.
The project now hosts 120.4 million tonnes at 6.5% boron trioxide and 340 parts per million of lithium for 7.8 million tonnes of contained boron trioxide at a 5% cutoff.
According to a Feb. 1 release, contained boric acid increased to 13.9 million tonnes.
The indicated resources include 58.6 million tonnes at 6.59% boron trioxide and 367 ppm of lithium for 3.9 million tonnes of contained boron trioxide.
Inferred resource stands at 61.9 million tonnes at 6.43% boron trioxide and 315 ppm of lithium for 4 million tonnes of contained boron trioxide.
An initial boric acid scoping study for the Fort Cady project estimated a posttax, unlevered net present value, discounted at 10%, of US$687.9 million and a 39% internal rate of return.
