Elevate Uranium Limited (ASX:EL8 | OTC:ELVUF) has announced the delineation of a large, 11km by 7.5km mineralized polygon at their Namib IV tenement, which is part of the 100% owned Koppies Uranium Project.
Exploration at the Namib IV prospect has focused on further defining the extend of the anomalism across the central project area via continuation of broad-spaced drilling this year. The company has also completed drilling of several early-stage, conceptual targets across the northwestern, southwestern, and southeastern extremities of the tenement. The systematic approach used delineated an extensive mineralized envelope approximately 11km by 7.5km. Drill spacing is wide, at 400 to 600m, with hole spacing typically at 200m.
The drilling programme identified calcrete-hosted mineralization in areas of interpreted palaeochannel, which is typical for uranium deposits in the region. The majority of intersections at Namib IV are hosted in basement, weathered granite, and, to a lesser degree, carbonate-veined schist. As a number of the intersections occur away from the interpreted palaeochannels, and do not appear to simply be weathered basement below the palaeochannels, further investigation is expected.
The results from Namib IV reinforce Elevate Uranium’s strategy of incorporating basement-hosted targets in their exploration programmes. Murray Hill, Elevate Uranium’s Managing Director commented on the results, “The Koppies Uranium Project continues to expand outside of the Koppies Resource Area, with uranium mineralization at the Namib IV tenement increasing, with the mineralized polygon now about 11 km long by 7.5 km wide. While the current drilling phase is focused on determining the extent of mineralization, future infill drill programs in selected areas will better define portions of higher-grade mineralization, with a view to estimate a maiden mineral resource later in the year, adding to the 66Mlb U3O8 at the Koppies Project. Our exploration programs have diversified over the past 12 months to include a variety of targets in addition to the more traditional palaeochannel hosted style of mineralization. We have identified mineralization in basement lithologies at Koppies and Hirabeb, and now at Namib IV. These targets open a new search space for us, no longer restricting exploration to palaeochannel uranium deposits.”
The company is progressing Namib IV towards a maiden mineral resource and next steps will include additional step-out drilling to define the extent of the mineralization, followed by infill drilling of selected areas to better define portions of higher-grade mineralization.
To read more about this, please visit https://www.elevateuranium.com.au
For more articles like this, please visit https://www.theassay.com/
