About African Energy Resources
African Energy Resources (AFR) is an ASX listed resources company focussed on developing uranium projects in Africa. The Company owns 70% of the Chirundu JV Project in Zambia where a total resource inventory of 8.7Mlb U3O8 occurs in Measured, Indicated and Inferred resources, hosted by soft sandstones within 60m of the surface. This advanced project is currently undergoing a Bankable Feasibility Study (BFS) and indications to date are that the project could support a 5-6 year, low to medium cost acid heap leach operation delivering on average 1.2 to 1.4Mlb U3O8 per annum at an average cash cost of below US $30/lb U3O8.
In addition to the Chirundu JV Project, the Company has made a number of other uranium discoveries in Zambia and Botswana on its extensive (>9,000km2) tenement holdings. Ore grade drill intersections have been made on the Sese Project in Botswana (less than 10km to the north of A-Cap's 98 Mlb U3O8 Mokobaesi/Letlhakane deposit), and at the Chisebuka Prospect in the Kariba Valley JV project in Zambia, less than 100km along-strike from Chirundu (and thus within trucking distance of the proposed Chirundu uranium processing facility). The Company also has other prospects where ore grade uranium has been encountered in rock-chip samples, historic trenches and supported with geochemical soil anomalism. Numerous untested uranium radiometric anomalies also exist on the Company's tenements in Zambia and Botswana.
For more information please continue on to Future Strategy & Objectives.