American Pacific Borate and Lithium (ASX: ABR) has announced further assay results from the confirmatory resource drilling program on its 100%-owned Fort Cady Borate and Lithium Project in Southern California.
American Pacific Borate and Lithium Managing Director & CEO Michael Schlumpberger said results to date are promising.
We are excited about the drilling program for two reasons – one, it is confirming the large historic borate resource and two, we are intersecting higher than anticipated lithium mineralisation,” Mr Schlumpberger said.
“We have also increased the number of drill rigs on site with five rigs now operating and working around the clock.
“It all bodes well for a very compelling mining operation.”
Mr Schlumpberger said the current 6,800m resource drilling program is designed to confirm the historical mineral estimate defined on the project during the early 1980’s.
The company has now completed six of the resource drill holes at the project. Assay results from three additional drill holes are pending. Water samples have also been submitted for analysis from a lithium brine drill hole with assay results pending.
Results have been received from two additional drill holes completed as part of the confirmatory resource drilling program, further confirming the presence of multiple mineralised horizons at the Project.
In light of this the company has inserted an additional core drill rig to the program, bringing the number of drill rigs on site to five. This will enable the Company to expedite the current program.