A-Cap Resources Limited (ASX:ACB)
Melbourne, April 23, 2009 AEST (ABN Newswire) - A-Cap Resources Limited (ASX:ACB) New geochemical assay data has been received for the Calcrete mineralisation at Mokobaesi which suggests significant U3O8 grade upside over the previous (June 2008) calcrete resource.
A 5,000m Resource Definition drilling program has commenced at the Gorgon Prospectwith the objective of moving the Resource from Inferred to Indicated status.
A 6,000m exploration drilling program on areas outside the currently quantified resource base is also planed to commence during this quarter at.
- The Southern extension of Gorgon Where the resource previously drilling stop in high grade mineralisation at the southern end of the Gorganmineralisation and at.
- Serule -10 km South of the known Mokabaesi resource.
The drilling at Serule will follow up on high grade zones discovered at Serule during exploration in 2008 with the objective of growing this resource and the global uranium mineralization at Letlhakane.
Resource Upgrade Drilling
A 5,000m Reverse Circulation (RC) Hammer drill program has commenced 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 Inferred Resource at Gorgon with the ultimate 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 6,000 m (approximately) drilling exploration program is planned at the Gorgon and Serule prospects with the objective of growing and extending the current uranium mineralisation 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 company believes that this exciting area has the potential to greatly increase the known contained uranium within the deposit.
Calcrete Resource
Late in 2008 A-Cap completed a 1500m infill RC program over the Mokobaesi Calcrete resource with the aim of generating enough geological and assay information to warrant an upgrade from the current Inferred Resource to an Indicated Resource. Results for that drilling, in the form of eU3O8 based on down-hole scintillometer readings, were released to the market in the December 08 quarterly report. New geochemical assay results from that drilling have now been received which suggest that radiometric logging significantly understates U3O8 grades in the calcrete-hosted mineralisation. eU3O8 grades derived from radiometric logging commonly require modification by a disequilibrium factor to generate grades reflective of the true (chemical) U3O8 grade of mineralisation. The disequilibrium factor reflects the proportion of radiometric response that is due to radiation emitted by daughter products of the uranium decay sequence rather than uranium itself and is commonly related to the maturity of the decay sequence and thus the age of the mineralization. Disequilibrium factors are derived by comparison of eU3O8 grades with chemical U3O8 assays for a statistically significant number of samples in a particular mineralisation type.
The current Inferred Calcrete Resource, released to the market in June 2008 is based on eU3O8 grades obtained from radiometric logging modified by a factor of 0.85. That factor was derived by comparison of eU3O8 grades and chemical assays over the entire volume of mineralisation drilled, including sandstone-hosted mineralisation beneath the calcrete. 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 calcretehosted portion of the global resource and an increase in resource tonnage above any given cut-off grade.
-----------------------------------------------------Cut off Contained Av grade Contained ContainedU3O8 Tonnes U3O8ppm U3O8Tonnes U3O8 lbs (Million) (Millions)-----------------------------------------------------100 9 171 1,560 3150 5 187 1,020 2200 1 233 280 1250 0 305 90 <1-----------------------------------------------------Table: Letlhakane (Mokobaesi) Inferred Calcrete Resource - June 2008
For the Full A-Cap Resources Release please see below;
http://www.abnnewswire.net/media/en/docs/60511-ASX-ACB-316900.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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