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AFRICAN ENERGY RESOURCES (GUERNSEY) LIMITED - ASX: AFR
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Description
African Energy Resources (AFR) is an ASX listed resources company focussed on developing uranium projects in Africa. The Company owns 70% of the Chirundu JV Project in Zambia where a total resource inventory of 8.7Mlb U3O8 occurs in Measured, Indicated and Inferred resources, hosted by soft sandstones within 60m of the surface. This advanced project is currently undergoing a Bankable Feasibility Study (BFS) and indications to date are that the project could support a 5-6 year, low to medium cost acid heap leach operation delivering on average 1.2 to 1.4Mlb U3O8 per annum at an average cash cost of below US $30/lb U3O8.
In addition to the Chirundu JV Project, the Company has made a number of other uranium discoveries in Zambia and Botswana on its extensive (>9,000km2) tenement holdings. Ore grade drill intersections have been made on the Sese Project in Botswana (less than 10km to the north of A-Cap's 98 Mlb U3O8 Mokobaesi/Letlhakane deposit), and at the Chisebuka Prospect in the Kariba Valley JV project in Zambia, less than 100km along-strike from Chirundu (and thus within trucking distance of the proposed Chirundu uranium processing facility). The Company also has other prospects where ore grade uranium has been encountered in rock-chip samples, historic trenches and supported with geochemical soil anomalism. Numerous untested uranium radiometric anomalies also exist on the Company's tenements in Zambia and Botswana.
Mine For
uranium
Location of operation(s)
Zambia, Botswana
Address
Ground Floor , 8 Colin Street
WEST PERTH, WA, AUSTRALIA
Phone
(08) 9324 1177
Website
http://www.africanenergyresources.com
Last Updated
05/05/2010
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.