Key points
A-Cap Energy kicks off 2023 drilling at Letlhakane project
- Letlhakane is described as one of the world’s top 10 largest undeveloped uranium deposits
- Project straddles Botswana’s north-south infrastructure corridor, including sealed roads and national grid transmission lines
- ASX-listed uranium explorer A-Cap Energy (ASX:ACB) has kicked off its 2023 drilling campaign for uranium at the company’s Letlhakane Uranium Project.
- A-Cap will launch into a 1,500 metre diamond drill program to collect up to 2 tonnes of core samples for assay.
- Further ore beneficiation (read: uranium grade refinement and improvement) studies are underway at Letlhakane, which will incorporate the core collected, as well as overhead development studies analysing the optimal path to a potential commercial mine.
- A-Cap describes Letlhakane as one of the world’s top ten largest undeveloped uranium deposits.
- “Letlhakane’s 2016 Feasibility Study which forecast an annual production of 3 million pounds (Mlbs) from open pit mining,“ A-Cap Energy MD Dr. Andrew Tunks said.
Ideal location
The company highlights proximity to sealed roads incorporating Botswana’s north-to-south infrastructure corridor, as well as transmission lines. In other words, they can get trucks in and out, and keep the lights on.
Drilling was suspended at the project back in 2018 after publishing a feasibility study in 2016.
“[Our understanding] has improved remarkably since that time leaving our technical team very confident that we can improve the project’s economics significantly,” Tunks added.
Works were suspended in 2018 due to an unfavourable uranium outlook, but in recent years, (and especially following the energy volatility that defined 2022) the company is risk-on for uranium drilling and exploration.
Investors can expect news flow on operations at Letlhakane over the coming weeks and months as news on grades, metallurgical test results, and updated development studies come to the fore.
For the original article: https://www.marketindex.com.au/news/a-cap-energy-kicks-off-2023-uranium-drilling-in-botswana
