The company is currently undertaking a feasibility study and metallurgical activities at the project, which contains a resource of 1,041Mt for 352Mlb U3O8 at a grade of 153ppm.

Nearly 83% of the deposit Letlhakane is primary ore, where the company expects heap leach field recoveries of 75%.

According to the company the project is the first uranium mine in Botswana besides being one of thelargest underdeveloped uranium projects across the globe.

A-Cap CEO Paul Thomson commented that the company has invested considerable time and money into the metallurgical tests and plans to extract high level recoveries.

"This result when applied to the high grade resource identified and announced in May has a major positive impact on the economics of the project with strong indications now of competitive operating costs per pound and low capital," Thomson added.