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Botswana

Letlhakane Project

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Categories

Summary

Mine TypeOpen Pit
Study CompletedPreliminary Economic Assessment
Study in ProgressPrefeasibility
StagePermitting
Commodities
  • Uranium
Mining Method
  • Truck & Shovel / Loader
  • Surface miner
Mine Life... Lock
SnapshotLetlhakane Uranium Project is one of the largest undeveloped uranium projects in the world. The project comprises five deposits: Gorgon, Kraken, Mokobaesi, Serule East, and Serule West.

Lotus Resources Limited has an Environment Certificate and Mining Licence in place for the operation. Draft Environmental Management Plans, including Radiation Management Plans have been generated for the Project.

An updated Scoping Study completed in March 2025 based on the December 2024 Mineral Resource Estimate. No revenue assumptions have been made for the Scoping Study.

Following the finalisation of the technical studies and further infill drilling, Lotus Resources Limited will initiate a PreFeasibility Study to further derisk the Project, in parallel with an assessment and potential update to the Environmental and Social Impact Assessment (ESIA).

Owners

SourceSource
CompanyInterestOwnership
Lotus Resources Ltd. 100 % Indirect
Lotus Resources Ltd. owns 100% of the Letlhakane Uranium Project through Lotus Marula Botswana Proprietary Limited (formerly A-Cap Resources Botswana (Pty) Ltd.).

Lotus Resources Ltd. owns 100% of the Letlhakane Uranium Project through Lotus Marula Botswana Proprietary Limited (formerly A-Cap Resources Botswana (Pty).

Contractors

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Deposit type

  • Sediment-hosted
  • Sandstone hosted

Summary:

The December 2024 Mineral Resource Estimate (MRE) for Letlhakane comprises six deposit areas Gorgon, Mokobaesi, Kraken, Marotoboloand Serule West and East.

Geologically, the Letlhakane uranium mineralisation is hosted within shallow, flat-lying sedimentary rocks of the Karoo Super Group. The mineralisation occurs within the upper parts of the Mea Arkose where it is in contact with the Tlapana Formation, as well as within the lower part of the Tlapana Formation. Parts of the deposit occur at surface within more recent pedogenic and valley calcretes and within the upper parts of the Tlapana Formation.

Three distinct styles of mineralogy related to weathering, have been identified in the main resource area and are closely related to the geological setting found in this area. The mineralisation is defined as Secondary, Oxide and Primary. Secondary mineralisation is dominated by the mineral carnotite and occurs in calcrete and the upper mudstones. Oxide and Primary mineralisation are dominated by orthobrannerite (U4+U6+Ti4O12(OH)2) and uraninite (UO2). These minerals occur as discrete grains up to 250µm on quartz grain boundaries, partially or wholly encapsulated in calcite, kaolinite and/or illite. Uranium anomalies associated with the organic bands in the sandstone show a strong correlation to titanium and this may imply orthobrannerite is present within the bands or that titanium is also incorporated into the humate along with uranium. The weathering defines the boundary between the oxide and the primary and due to the alteration of minerals in the oxide zone, they display differing metallurgical characteristics.

Mineralisation appears to closely follow basement topography and valleys can be traced following fluid flow paths and containing higher uranium grade areas. The Mea group sediments dip 1 degree to the west and mineralisation has been intersected further out to the west past the defined resource area. This mineralisation, although deeper and presently not defined, can be potential future resources for the Project.

Much of the mineralisation at Letlhakane is hosted in primary or oxide domains, with a single secondary mineralised lens modelled at Mokobaesi which is related to a calcrete horizon.

The lenses of uranium mineralisation at Letlhakane are flat-lying.

The sandstone-hosted mineralisation has roll front characteristics, where the uranium was precipitated at redox boundaries. Three material types have been identified; Primary material, Secondary material and Oxide material; the most abundant material type is the Primary material.

Dimensions:
- The area spans 14 km N-S and up to 11 km E-W.
- The resource has been modelled from surface to approximately 125 m depth.
- The deeper intersections are to the west and become shallower to the east.

Reserves

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Mining Methods

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Heavy Mobile Equipment

Fleet data has not been reported.

Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Commodity Production

CommodityProductUnitsAvg. AnnualLOM
Uranium U3O8 M lbs 2.929

Operational metrics

Metrics
Annual mining rate  ....  Subscribe
Annual processing rate  ....  Subscribe
Stripping ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2025 study.

Production Costs

CommodityUnitsAverage
Cash costs U3O8 USD  ....  Subscribe
Assumed price U3O8 USD  ....  Subscribe
* According to 2025 study / presentation.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscribe
Initial CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 625
Transportation (haulage) costs $M USD 10
Total OpEx $M USD  ......  Subscribe

Personnel

Mine Management

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 22, 2025
....................... Subscription required ....................... Subscription required ........... Subscription required Subscription required Apr 22, 2025

Workforce

Aerial view:

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