Elevate Uranium (ASX:EL8) has announced an intersection of a 13m thick zone of mineralization in granite at the Marenica Uranium Project in Namibia. Located 25km north of Orano’s Trekkopje Uranium Project and 25km southeast of the company’s Capri Tenement, this new intersection has helped to identify a new target style mineralization outside of the existing resource.
Exploration drilling during the past quarter tested an array of targets based on interpreted palaeochannel location, radiometrics, and detailed geological mapping.
Notable results include mineralized intersections in both pink and white granite, with MAR2500 displaying an interval of 13m at 203 eU3O8 ppm, including 3.5m at 326 ppm eU3O8. Additionally, six mineralized intervals greater than 100 ppm eU3O8 were intersected in MAR2500 with the deepest intersection at 58.5m, a depth that is double that of other holes drilled in the area. In total, 24m of aggregate mineralization was intersected in MAR2500.
Additional holes close to MAR2500 also intersected mineralization. Most of these were only drilled to a depth of 28m, so there is the potential for mineralization to extend deeper than current drill depth.
In total, 44 holes for 1,701m have been drilled since the end of the March quarter. The company will conduct detailed analysis of all holes drilled during this programme as well as historical holes to understand mineralization as well as lithological controls. The current drill programme at Marenica has been completed and exploration is now moving to detailed field investigation, mapping, and interpretation to allow for follow up later this year.
Murray Hill, Managing Director of Elevate Uranium commented, “Mineralization at the Marenica Uranium Project has typically intersected in palaeochannels. The Company has now identified another mineralization style with a large mineralized interval of 13m thickness intersected in granite close to surface. This was one of a number of holes in the drilling programme completed last month that intersected uranium mineralization. The team are interpreting the results from that drill programme, along with historical drilling in specific areas of the tenement, before planning future drill programmes that could add to the current 62Mlb eU3O8 resource.
This discovery, in addition to mineralization intersected in the southeast of the project area will form part of a future drill programme.
The diversification of our exploration programmes over that past 12 months outside of the more traditional palaeochannel hosted style of mienralization has proven successful. This new style of mineralization identified at Marenica opens a new search space for us, no longer restricting exploration to palaeochannel uranium deposits.”
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