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The UA92* uranium project consists of 7 prospecting licenses totaling approx. 4,828km2 located in central Botswana. The project is accessed by the towns of Orapa and Francistown and can be operated year round with no seasonal influences.
Lotus Resources’s Letlhakane project, which is hosted in the same stratigraphy east of the project area, has already shown the potential with a recently updated Resource estimate. The LUC Mineral Resource estimate, at a 200pm cut-off, contained 59.2 Mt @ 323 ppm U3O8 Indicated and 209.7 Mt @ 321 ppm U3O8 Inferred**.
*For conditions for closing the UA92 acquisition please see our June 13, 2024 News Release.
**Source: https://lotusresources.com.au/mineral-resources-and-ore-reserves/
Geologically, the targeted uranium mineralization is hosted within shallow, flat to shallow dipping sedimentary rocks of the Karoo Super Group. These Permian to Jurassic aged sediments were deposited in a shallow, broad, westerly dipping basin, generated during rifting of the African continent.
Mineralization typically occurs as stratabound, and disseminated pitchblende and coffinite in permeable sandstone. as a result of oxidized fluids intersecting reduced basin lithologies. Deposit styles can be subdivided into roll front, tabular, basal channel and tectonic-lithological type. Uranium can be recovered using conventional hydrometallurgical techniques through either acid or alkaline leaching.
Sandstone uranium deposits represent uranium concentrations formed by low-temperature hydrothermal processes, usually of diagenetic to epigenetic origin. The deposits are commonly hosted in arkosic sandstone and are therefore referred to as sandstone-type uranium. Globally, this is the most abundant type of uranium mineralisation, containing approximately 28% of the world’s uranium resources and including several giant deposits with resources exceeding 100 kt of uranium.
Target stratigraphy, the Ecca formation, has been mapped in western portions of licenses. Initial exploration will target outcrops on the western & eastern extents of the project, followed by exploring the central claims where Anglo American historically encountered formations at depth.
