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A-CAP RESOURCES LIMITED

ASX: ACB

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Description

A-Cap Resources Limited is an ASX listed (code: ACB) uranium and coal exploration company which holds ten prospecting licences covering a total area of over 7,000km² in Botswana.

A-Cap Resources is a uranium and coal exploration and development company with assets in the southern African country of Botswana. The Company’s flagship uranium asset is the Letlhakane Uranium Project located near Francistown in northern Botswana. Recently ACB discovered coal on the Company’s Mea tenements, located to the northwest of Letlhakane at the Bolau Project, adjacent to African Energy’s (ASX.AFR) Sese Coal Proejct> ACB has recently been granted rights to the coal that occurs there.

A-Cap Resources Aims to:
  • Maintain A-Cap’s position as Botswana preeminent uranium exploration company
  • Capitalise on its first mover advantage through aggressive ’in-ground‘ uranium exploration
  • Progress the Letlhakane Uranium Project through Environmental Impact Assessment and Bankable Feasibility Study (‘BFS’) - both due for completion in 2010
  • Continue resource expansion exploration programs at Letlhakane and Serule
  • Maintain and grow its extensive exploration uranium portfolio in Botswana
  • Become Botswana’s first Uranium Producer

In November 2009 A-Cap announced significant upgrades to its global resource base at the Letlhakane and Serule Projects Including:

  • At a 100ppm U3O8 cut off the Global Resource has grown from 98Mlbs to 158Mlb of U3O8, an increase of 59%
  • Letlhakane – total resource is now at 344 Mt @160ppm for 116Mlbs of U3O8
  • Infill drilling conducted during 2009 at Letlhakane within the previous resource area has resulted in a reclassification of 50Mlbs of contained U3O8 into the Indicated Resource category
  • Serule - initial resource contains 42Mlbs U3O8 in the Inferred category
  • The new resource has been classified along geological and metallurgical domaining criteria into secondary, oxide and primary ore types
  • The secondary mineralisation at Mokobaesi, within the Letlhakane Project, now stands at 11.3Mt @ + 199 ppm for 4.9 M Lbs U3O8 Indicated Resource
  • The current BFS ongoing at Letlhakane focuses on the secondary and oxide domains which collectively contain 30M lbs U3O8

Early stage thermal coal projects

ACB has released a maiden JORC Inferred resource for the Mea coal discovery of 335Mt of tonnes of high quality thermal coal. Washability tests have shown that at least 95Mt of the resource could be of export quality with calorific values of 26.43Mj/kg (6313kcalkg). There is potential to expand the resource significantly. Mea presents an opportunity to develop a 1-2Mtpa export business utilising existing rail and the port of Maputo

Mine For

uranium, coal

Location of operation(s)

Botswana

Address

Level 16, AMP Building 140 St Georges Terrace
PERTH, WA. 6000, AUSTRALIA

Phone

+61 (08) 9220 9850

Email

Website


Last Updated

14/07/2014

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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