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.
A-Cap Resources increases resource base by 59% at Letlhakane Uranium project
Australian uranium developer A-Cap Resources has increased the resource base by 59% at its flagship Letlhakane Uranium project in North East Botswana.
The increase to 157.8 Mlbs U3O8 (463Mt @ 154 ppm) is a crucial step moving the company from explorer to developer of Botswana's first uranium mine - which would be a historic first for the country.
"The Project now ranks as one of the largest undeveloped uranium projects in the world," said Dr Andrew Tunks Managing director of A-Cap.
Mineralisation remains open along strike at Letlhakane.
The current Bankable Feasibility Study at Letlhakane is focusing on the secondary and oxide domains which collectively contain 30M lbs U3O8. The main focus of the BFS has been to convert Inferred Resource to Indicated Resource which is a key step in the declaration of Ore Reserves for the Bankable Feasibility Study.
A-Cap has previously committed to an extensive metallurgical testwork program to determine the leach characteristics of the primary ore.
Regionally, the company has also announced a completely new resource for the Serule Uranium Project, which lies just 6Km to the south of Letlhakane, which contains 42M lbs U3O8 in the Inferred category (119.5mt @ 160 ppm). The mineralisation at Serule is also open along strike.
Targeted resource at Letlhakane Project is in excess of 200Mlb of U308.
A-Cap has over 5000Km2 of prospective ground throughout Botswana. A vigorous exploration program is planned for 2010.
