Elevate Uranium Limited (ASX: EL8 | OTC: ELVUF) has announced an upgrade of the Koppies Deposit JORC mineral resource estimate (MRE) from inferred to the indicated status, with 78% of the resource now in the indicated category.
Managing director, Murray Hill, commented, “The Koppies Uranium Project continues to mature with 78% of the Koppies Resource upgraded to JORC Indicated category. This is an important step in derisking the project, along with undertaking an U-pgradeTM metallurgical testwork programme on mineralized samples from the resource.”
In conjunction with the Koppies resource upgrade the company has announced a 10.2Mlb U3O8 maiden MRE at the Hirabeb deposit which is located south of the Koppies Resource.
This maiden resource increases the Koppies Uranium Project resource to 66.1Mlb U3O8 and brings the total Namibian resource base to 112.1Mlb U3O8 and the company’s global resource base to 160.5Mlb U3O8.
Murray added, “The company continues substantial exploration drilling programmes at Hirabeb and several other projects. The geological knowledge gained at Koppies and, in particular, the understanding that uranium mineralization extends into weathered basement adjacent to the paleochannels, means that we consider it likely that we will encounter previously unidentified mineralization in areas where historical exploration has occurred or indeed, where drilling has not been carried out because targeting has been based on alternate geological models. This knowledge drives us to explore in the likelihood of identifying additional uranium mineralization.”
To find out more, please visit www.elevateuanium.com.au
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