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Additional Information
Market:ASX
Sector:General Mining
EPIC:ACB
Latest Price: 0.27  (-5.26% Descending)
52-week High:0.74
52-week Low:0.17
Market Cap:54.03M
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A-Cap Resources

A-Cap Resources (ASX: ACB) has a position as Botswana's preeminent uranium exploration company, progressing the Letlhakane Uranium Project through Environmental Impact Assessment and Bankable Feasibility Study -  both due for completion in 2010. 

 

The company is continuing resource expansion exploration programs at Letlhakane and Serule. A-Cap is aiming to become Botswana’s first uranium producer.

More drilling success for A-Cap Resources at Letlhakane Uranium Project in Botswana

Tuesday, June 09, 2009
More drilling success for A-Cap Resources at Letlhakane Uranium Project in Botswana

Ongoing drilling at the Gorgon North Prospect at Letlhakane Uranium Project in Botswana has returned some significant uranium intercepts for A-Cap Resources (ASX: ACB).  Drilling was undertaken as part of a planned resource upgrade which will occur in the 2nd half of 2009.

The Letlhakane Uranium Project has a JORC Inferred Resource of 98 Million lb Uranium oxide at an average grade 158 ppm at a cut-off grade of 100 ppm. Projected cash costs are $33 per pound with planned production of 2 million pounds per annum.

A-Cap is working on a revised exploration plan and budget that reflects the Company’s improved cash position after the Capital Raise announced to the ASX on May 6th 2009. Funds raised will be used to complete the feasibility study of the Letlhakane Uranium Project due to commence in the third quarter of 2009.

Significant intercepts from recent drilling at Gorgon from 134 Reverse Circulation (RC) holes:

- Hole MOKR1503 Depth 21 metres at 3.6m (thickness) @ 268ppm (Grade eU308)
- MOKR1516 22 3.9m @539
- MOKR1538 18 9.2m @200
- MOKR1539 22 2.3m @314
- MOKR1547 10 8.4m @302
- MOKR1549 20 6.8m @344
- MOKR1550 32 5.6m @208
- MOKR1551 36 5.9m @240
- MOKR1565 36 3.6m @461
- MOKR1569 43 4.7m @219
- MOKR1570 34 5.7m @223
- MOKR1572 25 5.8m @353
- MOKR1575 14 5.1m @434
- MOKR1586 12 4.9m @612
- MOKR1586 22 2.5m @511
- MOKR1592 14 3.4m @266
- MOKR1598 23 5.8m @493
- MOKR1611 14 7.5m @271
- MOKR1612 17 4.8m @288
- MOKR1618 42 5.1m @525
- MOKR1621 27 16.8m @230
- MOKR1621 49 4.7m @253
- MOKR1626 20 5.1m @235
- MOKR1628 32 3.5m @1343

Two new Prospecting Licences (PL) have been granted to A-Cap by the Department of Geological Survey Botswana (DGS); PL122_2009 is immediately east of the existing Mea and Sua PLs, and PL 125_2009 is to the north of the Letlhakane Project.  Both licences cover a portion of the Karoo Supergroup –Proterozoic Basement unconformity, which is considered by A-Cap to be especially prospective for uranium mineralisation.

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