A-Cap Resources (ASX:ACB) has announced it has discovered more uranium in its infill drill holes which confirm the continuity of the mineralized layers at its Lethakane uranium project in Botswana. This 2,800 meter infill drill program was aiming to increase the confidence in the geological structure of the shallow mineralized zones before finishing the feasibility study on the project.
This feasibility study should be ready by the end of Q1 of this year where after A-Cap will very likely apply for a mining license in the second quarter. As we still consider Botswana to be one of the best mining destinations in the world and probably the best African country at this point, getting Lethakane permitted could be relatively straightforward and we’ll be looking forward to see some kind of timeline guidance from the company on this matter.
The Uranium price is still down the drain, but we do expect the Lethakane feasibility study to show a positive outcome.
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Disclosure: The author holds no position in A-Cap Resources. Please see our disclaimer for current positions.
