Elevate Uranium Limited (ASX: EL8 | OTC: ELVUF) and Energy Metals Ltd have announced excellent chemical assay results, confirming the quality of the two company’s joint venture Bigrlyi Deposit. The results were based on eU3O8 values derived from downhole gamma probing.
The received assays correlate well with the previously announced eU3O8 values and include an exceptional intersection of 10.5m at 1.1% (11,000ppm) U3O8 from 529m downhole in BRD2408, including a high-grade core of 1m at 4.07% (40,700ppm) U3O8.
The high-grade intersections have increased by an average of 12%, attributed to the technical limitations of the gamma probe, which becomes saturated in zones exceeding 1% (10,000ppm) U3O8. Energy Metals is now preparing to update the Bigrlyi Mineral Resource Estimate, with results expected in the first quarter of 2025.
The Bigrlyi Joint Venture is located in the Ngalia Basin – 350km northwest of Alice Springs, the deposit is classified as a tabular sandstone-hosted uranium and vanadium deposit, occurring within the sub-vertical Mt Eclipse sandstone, which contains a sequence of medium-to-coarse grained felspathic sandstones. The Project is a joint venture (JV) between Energy Metals (72.4%), NT Uranium (20.8%), and Noble Investments (6.8%).
Commenting on the successful drilling campaign at Bigrlyi, managing director of Energy Metals, Shubiao Tao, said: “The chemical assay results confirm what we already know, that Bigrlyi is a great uranium deposit with some exceptional high-grade zones emerging from the recent drilling. We look forward to updating the MRE in early 2025, as we progress our exploration plans for the coming year”.
To read more about this, please visit www.elevateuranium.com.au
To read more news like this, please visit www.theassay.com/news
