Total
0
Shares
Elevate Uranium (ASX:EL8) - Managing Director Murray Hill
Managing Director Murray Hill
Source: Elevate Uranium
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Elevate Uranium (EL8) has reported a “new uranium discovery” from a maiden scout drill programme under way at its Namib IV prospect in Namibia
  • The explorer is undertaking a wide-spaced exploration drill program within the licence, where it has intersected mineralisation over 17 kilometres
  • Notable intersections include two metres at 435 parts per million uranium equivalent and three metres at 376 parts per million uranium equivalent
  • Planning for the next stage of exploration is said to be under way
  • Elevate Uranium shares are up 5.66 per cent at 2:05 pm AEST to trade at 28 cents

Elevate Uranium (EL8) has reported a “new uranium discovery” from a maiden scout drill program under way at its Namib IV prospect in Namibia.

The explorer is in the early stages of an explorative wide-spaced drilling program within an exclusive prospecting licence, targeting what it believes could host near-surface uranium.

Elevate said the program had identified a network of paleochannels, with the major paleochannel extending over 19 kilometres and mineralisation intersected over 17 kilometres.

Notable intersections from the drills include two metres at 435 parts per million uranium equivalent from surface, three metres at 376 parts per million uranium equivalent from surface and four metres at 387 parts per million uranium equivalent from surface.

Elevate Managing Director Murray Hill said results from these drills indicated the potential of the tenement.

“These results, together with the Airborne EM, provide our exploration team with a strong foundation for implementing an aggressive exploration program on the company’s expansive and highly prospective tenements within this uranium province of Namibia,” he said.

According to Elevate, its geological team is analysing the results and planning the next stage of exploration.

Elevate Uranium shares were up 5.66 per cent at 2:05 pm AEST to trade at 28 cents.

EL8 by the numbers
More From The Market Herald

" Sparc Technologies (ASX:SPN) and University of Adelaide to form hydrogen JV

Sparc Technologies (SPN) and the University of Adelaide (UoA) are set to form a joint venture hydrogen technology company.
Triangle Energy (ASX:TEG) - Managing Director, Robert Towner

" Triangle Energy (ASX:TEG) and Pilot Energy (ASX:PGY) complete Cliff Head crude oil lifting

Triangle Energy and (TEG) and Pilot Energy (PGY) say the Cliff Head Joint Venture (CHJV) has lifted 107,000 barrels (bbls) of Cliff Head
Armour Energy (ASX:AJQ) - CEO, Brad Lingo

" Armour Energy (ASX:AJQ) appoints lead manager for McArthur IPO

Armour Energy (AJQ) has appointed a lead manager for the initial public offering and proposed listing on the ASX of McArthur Oil &
Elixir Energy (ASX:EXR) - Managing Director and CEO, Neil Young

" Elixir (ASX:EXR) flows gas and water to surface in Mongolia

Elixir Energy (EXR) has updated the market on its exploration and appraisal program underway across its Nomgon IX Coal Bed Methane (CBM) Production