Resource Boost at Fort Cady Raises Questions on 5E’s Next Economic Moves
5E Advanced Materials has announced a significant upgrade to its Fort Cady Project’s mineral resources, increasing measured and indicated boric acid resources by 61% and lithium carbonate equivalent by 54%, reinforcing its position as a key domestic supplier of critical minerals.
- Measured and indicated boric acid resources increased by 61%
- Lithium carbonate equivalent resources rose by 54%
- Resource upgrade driven by additional lode claims in Mojave Desert
- Mineral reserves and project economics remain unchanged
- Fort Cady now holds largest reported borate resource in the U.S.
Resource Upgrade Highlights
5E Advanced Materials, Inc. has delivered a substantial mineral resource upgrade for its Fort Cady Project located in California’s Mojave Desert. The company’s latest estimate reveals a 61% increase in measured and indicated boric acid resources, now totaling 28.3 million short tons with an average grade of 8.09% B2O3. Lithium carbonate equivalent (LCE) resources also saw a notable 54% rise, reaching 328,000 tons at an average grade of 0.17% LCE.
Strategic Expansion Through Additional Claims
This upgrade stems from the incorporation of mineral resources from 28 newly staked federal lode claims, filed with the U.S. Bureau of Land Management and recorded in San Bernardino County. These claims cover previously unclaimed colemanite mineralization, a borate mineral critical to the project’s value. The expansion solidifies Fort Cady’s status as the largest reported borate resource in the United States, a significant milestone given boron’s recent designation as a U.S. critical mineral.
Project Economics and Future Outlook
Despite the resource increase, the company confirmed that mineral reserves and project economics remain unchanged from the Preliminary Feasibility Study filed earlier in 2025. This suggests that while the resource base has grown, the immediate economic parameters and production plans are stable. The implied resource life extends to an impressive 217 years based on the first phase production rate, underscoring the project’s long-term potential.
Positioning as a Domestic Critical Mineral Supplier
CEO Paul Weibel emphasized the strategic importance of this upgrade, highlighting Fort Cady’s potential to anchor a secure domestic supply chain for boron and lithium. The project’s designation as critical infrastructure by the U.S. Department of Homeland Security further enhances its national significance. 5E Advanced Materials aims to leverage this resource base to become a vertically integrated leader in refined borates and advanced boron materials, supporting industries from renewable energy to defense.
Technical and Regulatory Context
The updated resource estimate was independently prepared by Escalante Geological Services, LLC, adhering to SEC regulations and industry standards. The mineral resource classifications; measured, indicated, and inferred; reflect varying degrees of geological confidence, with the measured category seeing the most dramatic increase. The company continues to apply in-situ leaching mining methods, consistent with the deposit’s geological characteristics.
Bottom Line?
With a dramatically expanded resource base, 5E Advanced Materials is poised to deepen its role in the U.S. critical minerals landscape, though economic benefits await future development milestones.
Questions in the middle?
- When will the resource upgrade translate into revised project economics or production plans?
- How will 5E advance offtake agreements or partnerships leveraging the expanded resource?
- What are the next steps for securing mineral tenure over inferred resource areas?
