A-Cap Resources Limited is an ASX listed (ASX/BSE: ACB) resources Company operating in the investment friendly and low sovereign risk country of Botswana in Southern Africa, where it holds over 3,600km2 of licenses.
The Company is well funded with strong ongoing major shareholder support and is actively focused on advancing its impressive energy portfolio of uranium and coal projects consisting of:
- Letlhakane Uranium and Coal Project
- Mea Coal Project
- Bolau Coal Project
- A recently announced high grade resource of 83.7Mt at 447ppm U3O8 for a contained 82.5Mlbs U3O8 allows for further improvements in the project economics.
Planning has been completed on a feasibility work programme necessary for a mining licence application in the first half of 2015. A major RC and Diamond drilling programme was designed to infill and extend known areas of high grade uranium mineralisation and provide further data for mine planning and resource modelling. Additional feasibility work is progressing well, based on low risk, shallow open pit mining and heap leach processing aiming to produce 3 million pounds of uranium per annum over a mine life in excess of 20 years. Metallurgical test work has achieved recoveries of up to 77% in over 80% of the orebody resulting in positive impacts on the economics of the project.
The Letlhakane uranium project is one of the world’s largest undeveloped uranium deposits with a JORC resource of 308.1 million pounds U3O8 with high grade resource of 83.7Mt at 447ppm U3O8
The Letlhakane project has the distinct advantage of having all the major infrastructure in place and is one of the only major undeveloped uranium projects in the world capable of being in production in 3 years at a low capital cost and competitive operating costs in a safe and stable jurisdiction.
In 2012, A-Cap announced the discovery of a major new coal field at the Mea Project in Northern Botswana. Coal was found in multiple seams, ranging from high quality domestic thermal coal, export quality coal and possibly material suitable for metallurgical applications. The Mea Coal Project contains some of the highest quality coal in Botswana and has a JORC compliant mineral resource of 335million tones coal, with an initial 95 million tonnes of export quality coal calorific values of 26.43 Mj/kg (6,313 cal/kg). Completion of a study on the Mea Coal Project by independent consulting group Sedgman was positive. The study highlighted the potential for project development covering geological, engineering and marketing. Drilling programme to define an indicated resource at Mea planned to commence next quarter.
The Bolau Project is interpreted as the up and down dip extensions of African Energy Resources’ Sese Coal Project (JORC compliant Indicated Mineral Resource of 2.5 Bt), which extends directly onto A-cap’s ground. Bolau has been interpreted as sub-bitumous thermal coal with potential to produce both domestic and export quality products. A positive study was also completed by Sedgman South Africa recommending further drilling and test work to advance the project resource to an inferred status. This programme will be commencing in July 2014.
In addition, the Company has announced a JORC compliant coal resource of 107 million tonnes at Letlhakane. This resource has the potential to add significant value to the Letlhakane project with synergies between mining the coal and uranium ore concurrently under investigation