A-Cap Upgrades Uranium Resource in Botswana

A-Cap Resources Ltd. (ASX:ACB) announced that there has been a large increase in the grade of the inferred resources at its Botswana-based Letlhakane project.

Highlights of the press release include:

• At cut off grades of 250ppm and 300ppm the grade has increased to 378ppm and 447ppm for contained pounds of 115 million and 83 million respectively
• The previous high grade resource at 200ppm has increased by 80% to 168 million contained pounds at an increased grade of 8.5% to 308ppm, this has been through the addition of Inferred Resources
• The previous global resource at 100ppm has decreased by 10% but grade increased by 40% to 211ppm
• The resources at Serule, Gorgon South and Gorgon West remain open to the west
• This resource upgrade has significant implications for the economics of the project

Paul Thomson, CEO of A-Cap, commented:

This is a fantastic result for A-Cap and its shareholders. It shows that there is quality as well as quantity in the uranium resource at Letlhakane. A very large high grade resource has now been identified which has profound implications for the economics of the project. A scoping study based on the previous resource completed in January showed competitive operating costs. This scoping study will be revised over the next quarter incorporating much higher resource grades which are expected to impact significantly on operating cost per pound.

Click here to read the full A-Cap Resources Ltd. (ASX:ACB) press release.