Located in north-central Botswana, the Foley project covers 971.9 km2 under licence, wholly-owned by Eastport. The project borders A-Cap Energy’s Letlhakane deposit, one of the world’s largest undeveloped uranium deposits, with an in-situ resource of 280 million pounds (Mlbs) U3O8. Uranium was first discovered in the region in the early 1970s, and an improved understanding of the deposit type has enabled the resource to be significantly expanded.
Mining infrastructure in the region is excellent, with power, transport, and skilled labour all in close proximity. At Selebi-Phikwe the processing of sulphide ores creates the opportunity for a local acid supply for uranium ore processing.
A-Cap Market Capitalisation $60 million*
A-Cap Energy’s Letlhakane uranium deposit is located to the adjacent southern border of Foley, with A-Cap’s mining licence shown in red on the adjacent map. A-Cap has reported a global resource of 822 million tonnes at a grade of 202 parts per million (ppm) U3O8, equivalent to 365.7 Mlbs.
* Market capitalisation correct as at 14 June 2022.