Foley Project - Uranium
New Project for 2021
The Company received 3-year Prospecting Licence (PL113/2020) on 1 January 2021. The work programme agreed to with the Department of Mines requires exploration during the two years that leads to drilling during year 3. Providing the work programme is fulfilled, The Company can renew the licence for an additional 2-year term.
This project targets near-surface Karoo-hosted sandstone uranium deposits.
A-Cap Resources' Letlhakane uranium deposit is to the immediate south within their mining licence (red). They report a global resource of:
822 Mt at 202ppm U3O8 or 365.7 M-lbs*
The exploration programme will employ radon gas and hammer seismic surveys for uranium detection and geological structure tracing. RAB drilling will be used for final target testing. The preliminary work is already underway and will initially focus on the area to the immediate north of the Letlhakane mining licence.
*from A-Cap. 2017