5E’s Fort Cady asset is a highly rare and large colemanite deposit and is the largest known contained borate occurrence in the world not owned by the two major borate producers Rio Tinto and Eti Maden. The Project has a JORC mineral estimate of Resource of 120.4 million metric tonnes (“Mt”) at 6.5% B2O3 (11.6% Boric Acid equivalent [H3BO3] and 340 ppm Lithium (5% B2O3 cut-off) for 7.8 Mt contained B2O3 (13.9 Mt H3BO3):
- Total Measured MRE of 38.87 Mt at 6.70% B2O3 (11.91% H3BO3) and 379 ppm Lithium (5% B2O3 cut-off grade) for 2.61 Mt contained B2O3 (4.63 Mt H3BO3)
- Total Indicated MRE of 19.72 Mt at 6.40% B2O3 (11.36% H3BO3) and 343 ppm Lithium (5% B2O3 cut-off grade) for 1.26 Mt contained B2O3 (2.24 Mt H3BO3)
- Total Inferred MRE of 61.85 Mt at 6.43% B2O3 (11.42% H3BO3) and 322 ppm Lithium (5% B2O3 cut-off) for 3.98 Mt contained B2O3 (7.07 Mt H3BO3)
Rare Boron deposit with few sources globally to meet growing demand
Substantially permitted targeting operations in late CY2022
Excellent infrastructure options including grid electricity, gas, water access, and geothermal potential
Low technical risk with ore body previously mined and proven off the shelf processing
ESG and sustainability profile integrated driven by low carbon footprint
Resource Tables
JORC Compliant Mineral Resource Estimate and Reserve | ||||||
Reserves | MMt | B2O3 % | H3BO3 % | Li ppm | B2O3 Mt | H3BO3 Mt |
- Proven | 27.21 | 6.70 | 11.91 | 379 | 1.82 | 3.24 |
- Probable | 13.80 | 6.40 | 11.36 | 343 | 0.88 | 1.57 |
Total Reserves | 41.01 | 6.60 | 11.72 | 367 | 2.71 | 4.81 |
Resources | ||||||
- Measured | 38.87 | 6.70 | 11.91 | 379 | 2.61 | 4.63 |
- Indicated | 19.72 | 6.40 | 11.36 | 343 | 1.26 | 2.24 |
Total M&I | 58.59 | 6.60 | 11.72 | 367 | 3.87 | 6.87 |
- Inferred | 61.85 | 6.43 | 11.42 | 322 | 3.98 | 7.07 |
Total M, I&I | 120.44 | 6.51 | 11.57 | 344 | 7.84 | 13.93 |
S-K Compliant Mineral Resource Estimate | ||||||
Resources | MsT | B2O3 % | H3BO3 % | Li ppm | B2O3 MsT | H3BO3 MsT |
- Measured | 35.96 | 6.57 | 11.67 | 330 | 2.36 | 4.2 |
- Indicated | 61.59 | 6.51 | 11.55 | 318 | 4.01 | 7.12 |
Total M&I | 97.55 | 6.53 | 11.61 | 324 | 6.37 | 11.31 |
- Inferred | 11.43 | 6.40 | 11.37 | 324 | 0.74 | 1.31 |
Total M, I&I | 108.98 | 6.52 | 11.60 | 324 | 7.11 | 12.62 |
Permits
The Company’s Fort Cady Borate Mine is currently substantially permitted to commence production.
The Environmental Impact Statement and Report considered the following:
Under the Plan of Operations the mine is expected to operate for around 130 years with the following components:
- A 273 acre well field that would ultimately be comprised of up to approximately 200 wells;
- A 10 acre process plant;
- A 16 acre gypsum deposition area; and
- Water pipelines, railroad spur and three access roads.