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Highlights:
- Elevate Uranium (EL8) progresses U-pgrade demonstration plant with test work underway.
- Key Namibian projects, including Koppies and Namib IV, deliver encouraging exploration results.
- Expansive drilling at Capri and Marenica focuses on resource delineation and expansion.
Elevate Uranium (ASX:EL8) is making significant strides toward the construction of its U-pgrade demonstration plant, a key initiative aimed at advancing its operations. The plant’s design will be informed by ongoing metallurgical test work on samples from the Koppies project in Namibia.
Six tonnes of uranium ore from Koppies have been sent to a laboratory in Perth, where detailed mineralogical analyses and bench-scale tests are underway. These tests will guide the engineering and design components of the plant, which is expected to begin operations in late 2025. Construction contracts are anticipated to be awarded by year-end, with the plant built in Australia before being shipped to Namibia for large-scale operation.
Expanding Namibian Portfolio
Elevate Uranium continues exploration and resource expansion at its Namibian projects, including Hirabeb, Namib IV, Capri, and Marenica. At Hirabeb, drilling is assessing basement-hosted mineralisation beyond the maiden resource of 10.2 million pounds of uranium oxide equivalent (eU3O8) announced in October. Initial results have revealed mineralised intersections up to 1.2km north of the resource area, with notable grades such as 1.5 meters at 292 parts per million (ppm) eU3O8.
Drilling at Namib IV has unveiled a large zone of continuous mineralisation located 20 kilometers from the Koppies project. Significant results include 3.5 meters at 2,053ppm eU3O8 and 18 meters at 267ppm eU3O8, pointing to the potential for a maiden resource announcement in 2025.
Capri and Marenica Exploration Programs
Exploration at the Capri tenement is focused on tightening drill spacing to better define mineralisation, with promising results such as 4.5 meters at 942ppm eU3O8. The company plans to delineate a maiden resource early in the coming year.
At Marenica, located 25 kilometers from Capri, exploration has identified encouraging intersections outside the existing resource boundary. Drilling near the MA7 deposit yielded grades of up to 439ppm eU3O8, supporting the potential for further resource expansion.
Elevate Uranium’s ongoing exploration and development initiatives in Namibia underline its commitment to enhancing its resource base, which may extend the life or scale of future mining operations.
