Elevate Uranium Limited (ASX: EL8 | OTCQX: ELVUF) has completed its inferred resource drilling programmes, data from which will be used to update the current 48Mlb U3O8 Inferred JORC MRE for the company’s Koppies project. A new MRE is due to be released by early April. The drilling programme to increase the JORC category of the MRE has now commenced.
Elevate Uranium’s managing director, Murray Hill, commented: “The company is transitioning it’s focus at Koppies from resource growth to project advancement by increasing the JORC resource category from inferred to indicated, which will then feed into a scoping study and provide metrics on the project. Data from the latest phase of the resource growth drilling is being processed and the updated resource estimation is in progress. The updated JORC inferred resource is expected to be released by early April. The company considers the Koppies resource to be of sufficient size to take to the next level of development and as such three drill rigs are currently working on the infill JORC Indicated drilling programme. Metallurgical samples are planned to be collected in April/May for an advanced metallurgical testwork programme utilizing the company’s proprietary U-pgradeTM beneficiation process.”
Increasing the Koppies mineral resource to a majority JORC indicated resource category is necessary for publication of an economic study on the project. To prioritize this activity, the company has already commenced an indicated infill drilling programme. To understand the metallurgical characteristics of the Koppies ore, metallurgical testwork using the company’s proprietary U-pgradeTM beneficiation process will commence following collection of metallurgical samples from the Koppies project in April/May. These samples will be collected from specifically designed test pits, which will also provide valuable geological and mining data for the scoping study. The results of the metallurgical testwork is essential to develop an initial design of the mining and process flowsheet. Once the JORC indicated resource and the U-pgradeTM metallurgical testwork has been completed, a scoping study to understand the economics of the project will be produced.
To read more about this, please visit www.elevateuranium.com.au
To read more news like this, please visit www.theassay.com/news
