A-Cap Resources Limited (ASX:ACB)
Melbourne, April 30, 2009 AEST (ABN Newswire) - A-Cap Resources Limited (ASX:ACB) As forecast in the previous quarterly the first quarter 2009 expenditures were low due to an extended wet season in Botswana and the lack of drilling activity during the quarter. Total expenditure for the quarter was A$506,000 which included expenditure of the Environmental Impact Assessment ("EIA") and Water Study, site rehabilitation, assay and all overheads.
UPCOMING EXPLORATION PROGRAM
Expected exploration expenditure for the second quarter 2009 is planned to be A$625,000 which includes significant drilling and assay costs. Details of the planned exploration are provided below.
RESOURCE UPGRADE DRILLING
A 5,000m Reverse Circulation (RC) drill program commenced on April 24 at the Gorgon Prospect, which forms the western part of the Inferred Resource at the Letlhakane Uranium Project. The aim of this drilling is to increase geological confidence in the current Resource with the aim to close up drill spacing and move into the Indicated Resource Category. The drilling is expected to take approximately six to eight weeks to complete.
RESOURCE EXPLORATION DRILLING
A further exploration program is also planned for the second and third quarters that will see the completion of approximately 6,000m of new drilling at the Gorgon and Serule prospects in order to grow the current resource base.
The drilling at Gorgon will target existing high grade zones discovered at Gorgon South during previous exploration carried out during 2008.
The drilling at Serule will follow up on high grade zones discovered at Serule during regional reconnaissance exploration during 2008. The program has been designed to close up the spacing in some of the higher grade areas and also to extend outside the currently known mineralisation to delineate potential new resources.The drilling completed during 2008 at Serule is not currently in the Resource Inventories of the Letlhakane Uranium Project but the Board of A-Cap believes that this exciting area has the potential to significantly increase the contained uranium within the deposit.
EXPLORATION ACTIVITIES FOR THE QUARTER ENDED 31 MARCH 2009
PL45/2004 - Letlhakane Project
Exploration & Resource Drilling
No drilling was completed during first quarter 2009. Drilling is due to re-commence at the end of April with a total of 11,000 metres of RC drilling proposed.
Geochemical Sample Submission
During the quarter a total of 867 samples from Serule West were collected, sorted and shipped to Set Point Laboratories in South Africa for preparation and analysis. This includes 20 standards (Amis0098 and Amis0097) and 21 duplicates. These samples will be analysed for uranium only by XRF (pressed powder pellet). These samples were collected from mineralised intersections delineated by the downhole radiometric probe. The results should be returned within the next quarter.
Analytical Results
Analytical results (U3O8 ppm only) were received for a total of two thousand, two hundred and sixty nine (2269) samples during the reporting period. These samples were all prepped and analysed at Set Point Laboratories in South Africa.
630 results were from core samples submitted late in 2008. These holes were sampled for the purposes of pushing the Inferred Resources in the Mokobaesi and Gorgon areas into the Indicated category. Results were received for 15 holes (GODD0006-7, 11-14 and 16 and MOKD0022 - 29).
The assay results from the infill RC program completed across the Mokobaesi Calcrete Resource in September 2008, were all received during the quarter. Results were received for a total of one thousand, six hundred and thirty nine samples (1639).
New chemical assays now available from the 2008 resource infill drilling on the Mokobaesi Calcrete portion of the resource indicate that application of the 0.85 factor to eU3O8 grades in calcrete-hosted mineralisation is not appropriate and that potentially a positive factor should be applied to probe results where no geochemical assays are available. This would result in a significant increase in the grade of the Mokobaesi calcrete-hosted portion of the global resource and an increase in resource tonnage above any given cut-off grade.
Rehabilitation
As of the end of March 2009, all of the RC drill-holes within the project area had been plugged and backfilled. The bulk sample bags were removed from the site and the sample material buried in a trench on the edge of the grid. During the next quarter all of the drill traverses will be driven to check for holes that may have collapsed and/or opened during the rainy season. These holes will be duly rehabilitated.
Water Table Depth
A program of measuring the depth of the static ground water was complete during the quarter. A selection of RC holes from throughout the grid area were uncapped and a dip meter was lowered down to measure the depth of the water table. The data was recorded digitally and has been used to create a DTM wireframe for the water table across the project area.
Surveying
An on-site control point has been established to allow a more accurate determination of Release Level ("RL") using the DGPS. Drillhole RL has been checked across the project and a total of 312 holes have been found to have incorrect RL's. A program of re-surveying will be completed during April and May.
Environmental Impact Assessment (EIA)
The first phase of baseline studies on the wet-hot period of the year, commenced during late February. A summary of the baseline studies initiated is included below in Table 2. Results from the first quarter studies will be available before the end of June 2009.
----------------------------------------------------------------------Subject Consultant Scope of study----------------------------------------------------------------------Aquatic Dr Ben van der Waal - Document the aquatic speciesbiodiversity Consultant from currently existing in the Management of the EIA Study Area prior to the Zambezi/ Chobe River commencement of ground System Fishery Resource disturbance. Project---------------------------------------------------------------------- Ground Water Water Surveys Botswana - Baseline trace elementChemistry geochemistry----------------------------------------------------------------------Hydrocensus Water Surveys Botswana - Identify water users within the area of influence. - Establish aquifer water usage----------------------------------------------------------------------BaselineRadioactivity NECSA - Assess radioactivity in finestudies dust fraction - Assess radioactivity in coarse dust fraction - Assess radioactivity in groundwater - Assess radioactivity in stream sediments - Assess radioactivity in soil - Assess radioactivity in crops/food chain----------------------------------------------------------------------
Table 1 - Summary of EIA baseline studies commenced during the quarter.
The Community Consultation and Information portion of the EIA was also commenced in March, with public meetings held in Gojwane and Serule villages. These meetings, which were well attended and are a compulsory part of the EIA, were held:
- To allow the developer (A-cap Resources) to formerly announce the proposed project and outline the project development process;
- To allow the Environmental Consultant (Metago and Ecosurv) to outline the statutory process that the Scoping and detailed EIA will follow; and
- To accord participants an opportunity to ask questions and register issues that they feel the EIA should consider.
A key persons meeting held on the 5 March 2009 with the Tonota Sub District Development Committee (Sub DDC) was equally well attended. A full list of attending key persons will be included in the final report submitted to the Department of Environmental Affairs.
Water Resource Exploration
Water Surveys (Botswana) have commenced a desk-top study with an aim to produce targets for future process water exploration. This studywill be completed by April 2009.
Tenement Issues
The renewal document for PL45/2004 was submitted to the Department of Geological Services on the 28th of March 2009.
PL134/2005 - Mea and PL135/2005 - Sua
No significant work was conducted on the license during the quarter.
PL71/2008, PL72/2008, PL73/2008, PL74/2008 -MAKGHADIGHADI PROJECT
Planning for an airborne radiometric and magnetic survey has been finalised for these field areas.
A crucial issue for the collection of airborne radiometric data is that the ground surface and topsoil must be dry, as water severely impedes the radiometric response. It is planned that the airborne survey will commence in the second half of 2009 once the ground has adequately dried from a prolonged wet season.
PL136/2005 - North Uray
No significant work was conducted on the license during the quarter.
PL137/2005 - South Uray
No significant work was conducted on the license during the quarter.
PL138/2005 - Bolau
No significant work was conducted on the license during the quarter.
NEW PROSPECTING LICENSE APPLICATIONS
Three new applications were submitted for ground around PL45/2004 during last quarter of 2008. The licences cover areas of Karoo stratigraphy similar to that which hosts mineralisation at Mokobaesi, Kraken and Gorgon.
For the complete A-Cap Resources Quarterly Report, please see the link below;
http://www.abnnewswire.net/media/en/docs/60558-ASX-ACB-317270.pdf
About A-Cap Resources Limited
A-Cap holds six prospecting licences covering a total area of over 4,400km2 and three licences under application covering a further 3,000km2. All of the ground held by A-Cap has been previously explored by major companies such as Falconbridge, BCL, Urangesellchaft and Union. All of A-Cap’s tenements have significant radiometric anomalies and indications of Uranium mineralisation exposed at surface. Significant discoveries have been made at the Letlhakane Project resulting in an Inferred Resource of 30 Million lb Uranium (at an 80ppm cut-off) that has been defined in accordance with the JORC code.
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