Elevate Uranium (ASX:EL8) - Managing Director, Murray Hill
Managing Director, Murray Hill
Source: Elevate Uranium
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  • Elevate Uranium (EL8) identifies shallow uranium mineralisation at the Koppies Project in the Erongo region of Namibia
  • A total of 558 reverse circulation (RC) holes were drilled at the Koppies I and Koppies II prospects to define previously identified uranium mineralisation
  • Grades peaked at 796 parts per million (ppm) triuranium octoxide equivalent and the results will be incorporated into a maiden mineral resource estimate
  • There remains considerable potential at Koppies and EL8 plans to explore the prospective parts with frequency-domain electromagnetic ground surveys
  • Elevate Uranium is down 2.8 per cent on the market with shares trading at 52 cents each

Elevate Uranium (EL8) has identified shallow uranium mineralisation at the Koppies Project in the Erongo region of Namibia.

A total of 558 reverse circulation (RC) holes, covering 4701 metres, were drilled at the Koppies I and Koppies II prospects to define previously identified uranium mineralisation.

Results include six metres at 796 parts per million (ppm) triuranium octoxide equivalent from six metres, eight metres at 768 ppm triuranium octoxide equivalent from four metres, and nine metres at 415 ppm triuranium octoxide equivalent from one metre.

The results from this program will now be incorporated into a maiden mineral resource estimate which is expected to be completed in the March quarter.

There remains considerable potential at Koppies and Elevate plans to explore the prospective parts with frequency-domain electromagnetic ground surveys.

“The resource definition drilling program has confirmed continuity of shallow, calcrete hosted uranium mineralisation within broad palaeochannels,” Managing Director Murray Hill said.

“The drilling has produced excellent results and we look forward to reporting a maiden resource estimate, expected to be completed in the March quarter 2022.”

Elevate Uranium was down 2.8 per cent on the market with shares trading at 52 cents at 12:29 pm AEDT.

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