The Mea project is a greenfields discovery while the Bolau discovery is considered an up and down-dip extension of African Energy’s Sese coal project, which extends into A-Cap’s tenements.
Consultant Dr Willem J. Smuts completed an initial evaluation and said the Mea project could contain a coal deposit of “significant” tonnage at “better than average quality by Botswana coal standards”
The Botswana government has already approved the amendment of the Mea license to include coal and provided notice of its intention to modify the Bolau prospecting license.
A-Cap said the unexpected find immediately transformed it into a multi-commodity company.
“Whilst we were originally exploring for uranium, the discovery of the Mea and Bolau coal projects is an exciting development for A-Cap,” A-Cap chief executive officer Paul Thomson said.
“The identification of these coal projects opens up a whole new direction for the company and offers our shareholders further risk diversification by not being exposed to only one commodity.”
The company would continue feasibility work on its 351 million pound Letlhakane uranium project, but would look to further the coal projects.
“We look forward to updating shareholders of the continued work programs on our three exciting projects – all of which could transform A-Cap into one of Botswana’s leading energy mineral producers,” Thomson said.