Elevate Uranium Ltd (ASX: EL8) has commenced a three-hole, 1,860m drilling program at its 100%-owned Angela Uranium Project in the Northern Territory, aiming to unlock new zones of high-grade mineralization.
The Angela Project currently hosts a JORC Resource of 30.8Mlb U₃O₈ at 1,310ppm, making it one of the company’s most significant Australian assets. The new program will test geophysical anomalies identified through a two-dimensional seismic survey completed in 2022, which revealed that known mineralization is concentrated near a specific reflector. High-amplitude regions below this layer are now priority targets.
Key details:
- Program: Three diamond drill holes with RC pre-collars, depths of 500–700 m, totaling ~1,860m.
- Funding: Co-funded by the Northern Territory Government with a $112,000 grant under its Resourcing the Territory initiative.
- Timeline: Drilling expected to take ~4 weeks; results will guide future exploration.
Elevate Uranium Managing Director, Murray Hill, commented, “We are excited to have a drill turning at our Angela Uranium Project in the Northern Territory, which contains a JORC Resource of 30.8 Mlb U3O8 at a grade of 1,310 ppm U3O8. As the Company increases exploration activities across the Australian portfolio, Angela represents a compelling, near-term opportunity to add high-grade pounds to our resource base. This program is a direct result of our successful two-dimensional seismic survey which was also supported by a grant from the NT Government. We look forward to completing the program and updating the market as results become available.”
The Angela deposit lies about 25km south of Alice Springs and is hosted in medium to coarse-grained lithic sandstones, with primary mineralization comprising uraninite and pitchblende. The company sees this campaign as a step toward expanding resources at one of its most prospective Australian projects.
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