Letlhakane Uranium Project

OVERVIEW

A-Cap has conducted significant exploration and resource development at Letlhakane since 2006, and has successfully grown the project into one of the largest undeveloped uranium deposits in the world. The entire resource is within 80m of the surface. The project is based on shallow open pit mining, heap leach and solvent extraction. A-Cap submitted an application for a mining licence on 18 August 2015 with the objective of bringing the project into early production and taking advantage of a forecast upturn in the uranium market.

Over the years, A-Cap has been fortunate to secure the funding necessary to secure a mining licence for the Letlhakane Uranium Project. This funding has been made available through the financial support of our shareholders, who have strong belief in the fundamentals of the nuclear power industry into the future.

Key Ingredients for a Successful Project:

  • Resource Size – One of the world’s largest undeveloped uranium deposits and still growing
  • Stable and Safe Jurisdiction – Botswana ranks No 1 as the most politically stable country in Africa
  • Infrastructure – Power, road, rail and water readily available
  • Technical (Mining and Metallurgy) – Low-cost mining, soft ore near surface, low cost heap leach acid processing, proven technology
  • Road to production clearly understood
  • Quality Management – First class technical management team with proven track record in mineral processing and project development in Africa
  • Development Potential – One of the world’s largest undeveloped uranium projects, Letlhakane is capable of production within two years from the decision to mine on a rising uranium market.

The project has a number of competitive advantages because of existing infrastructure located close to it. The main North South highway in Botswana, the A1, is a sealed road in very good condition, which passes through the project. It serves Botswana’s Northern neighbours from the industrial centres and ports in South Africa. The main rail line in Botswana, a Cape gauge, passes through the project. There is a 220 kV switching station located at Serule Village which is approximately 8km from the project plant site. The local power utility, Botswana Power Corporation, have carried out a system survey and confirmed that they can supply the projects power requirements. A borefield has been located approximately 30km to the west of the Project area and an extraction permit has been granted by the Water Apportionment Board.

The mineralisation is flat and will be easy to mine with surface miners which will allow selectivity during the mining process. Importantly the mineralised area is located on relatively flat, degraded vegetation areas with no villages and thus the area is subject to minimal compensation, and rehabilitation will be relatively easy.

Location

The Letlhakane Uranium Project (“Letlhakane”) is located 80km from Francistown, the second largest city in the stable jurisdiction and investor friendly country of Botswana

Letlhakane-Uranium-Project-Location

Tenure

A Mining Licence Application was submitted on 18 August 2015, which was subsequently granted by the Botswana Department of Mines on 12 September 2016, and is valid for 22 years.

Feasibility Team

The project is fortunate to have a strong team conducting the feasibility work with proven expertise and experience in all aspects of the project. This includes specialists in geology, mineralogy, mining, metallurgy, process design, hydrology, environmental, radiation and engineering. These specialists are considered to be some of the best in their field. These include Dr Paul Woolrich (A-Cap Director) and our specialist consultants Lycopodium Minerals (lead consultant), SGS Lakefield Oretest and ANSTO (metallurgical testing), SRK Consulting (mineralogy), Alan Taylor of Alta Metallurgical Services, Grenvil Dunn of Orway Mineral Consultants and Randall Pyper of Kappes Cassiday & Associates (metallurgical and process design), SLR Consulting (ESIA and geochemical, geotechnical and hydrological aspects of feasibility study), David Cairns of Mitico, Optiro and Cube Consulting (optimisation, mining & scheduling).