Video: LSE-listed uranium junior Power Metals lands in North America
The company holds a portfolio including precious, base and strategic metal exploration in North America, Africa, Saudi Arabia and Australia.
A-Cap Resources has reported a 65 percent increase in uranium resources, from 158 million to 261 million pounds, at its Letlhakane project in Botswana, the company stated this week.
The updated JORC-compliant resource estimate pegs the deposit at 780 million tonnes, at 152 ppm of uranium oxide, leaving 261 million pounds of U308 at 100 ppm cutoff. The indicated resource stands at 221 million tonnes at 153 ppm, for 74.7 million pounds of U308, which is a 49% increase over the last resource update in 2009.
“The recent tragic events in Fukishima Japan have dented the faith of some in the investment community in regards to nuclear technology. However with recent statements coming out of Korea, China and India recommitting to nuclear power, we believe that the industry will soon rebound with global demand for uranium far outstripping mine supply,” said A-Cap Managing Director Dr. Andrew Tunks.
“The Letlhakane Uranium Project has now grown to be one of the largest undeveloped uranium deposits in the world and it has the tangible benefit of being in Botswana — a country which we believe to be a premier investment destination in Africa. Based on this resource increase A‐Cap will be committing considerable efforts to concluding our Bankable Feasibility Study early in 2012 and focusing on bringing this project into early production.”
For more details click on the full press release
