Published on Wednesday June 06 2012 (AEST)
Australian uranium Explorer A-Cap Resources has successfully upgraded the global JORC Resource at the company’s Letlhakane Uranium Project in Botswana by 35%, with the project now ranked as one of the world’s largest undeveloped uranium deposits.
The company is now focused on completing a Bankable Feasibility Study and bringing Letlhakane into early production.
Letlhakane now hosts a global resource of 1.04 billion tonnes at 153 parts per million (ppm) uranium for 351.8 million pounds of uranium contained, based on a 100ppm uranium cut-off grade. Within this resource, A-Cap has defined a higher grade resource of 143.2 million tonnes at 284ppm uranium for 89.7 million pounds of uranium contained. Importantly, when taking into account a 200ppm uranium cut-off grade, the global resource is 143.2 million tonnes at 284ppm uranium for 89.7 million pounds uranium, a strategic resource in the current market.
There is potential for further resource growth at Letlhakane, with the resource area remaining open along the western boundary. In addition to its size, Letlhakane has location on its side, with road, rail, power and water all readily available in the area, coupled with the stability of Botswana as a mining jurisdiction.
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