ASX-listed company Elevate Uranium (ASX:EL8) reports it has discovered a new uranium (eU3O8) mineralisation zone from an ongoing drilling campaign at its Koppies tenement in Namibia.
The new mineralised zone, named Koppies 4, extends the known mineralisation a further 6.6km to the south of Koppies 2 and brings the total length of eU3O8 mineralisation to 19.2km.
This announcement comes following the company’s previous discovery of Koppies 3, a 10km eU3O8 mineralised zone situated to the northeast of Koppies 2 that was encountered shortly after the definition of the initial JORC 2012 inferred Mineral Resource Estimate (MRE).
The company also notes this discovery has the potential to ‘significantly’ expand the existing 20Mlb U3O8 MRE.
Speaking on the mineralisation extension, Elevate Uranium Managing Director, Murray Hill said: “The Koppies project is growing bigger and better with each drilling program. In May 2022, the company announced a 20.3 million pound maiden uranium resource at Koppies 1 and 2.
“We have been saying since we announced the 20.3 million pound maiden resource at Koppies, that we believed there was ‘significant’ potential for growth at Koppies, and here is proof”
Since that time, we have discovered Koppies 3 which extended the mineralisation to the northeast by 10 kilometres and now Koppies 4 which extends the mineralisation 6.6 kilometres to the southwest. We have been saying since we announced the 20.3 million pound maiden resource at Koppies, that we believed there was ‘significant’ potential for growth at Koppies, and here is proof. The mineralisation in the greater Koppies area now has a length of 19.2 kilometres.”
It is also reported that drilling within Koppies 3 has also extended the mineralised width up to 2.4km and has also confirmed the continuity of mineralisation by about 10km to the northeast of the tenement.
In addition, drilling completed at Koppies 3 also indicates a potential link between mineralisation within the deposit to both Koppies 1 and 2, highlighting ‘significant’ potential for further mineralisation to be found around the current resource boundary.
An additional extension of mineralisation is also reported to the west of Koppies 3, which remains open on both drill lines and is currently being investigated with follow-up drilling.
Elevate Uranium is a uranium exploration company that currently boasts a ‘significant’ resource portfolio in the southern African country of Namibia, as well as in Australia. The company’s Koppies tenement represents the first of its strategically located tenements in the Namib Desert region of Namibia to be explored and currently boasts an MRE of 20.3Mlb eU3O8. The tenement is considered prospective for the same eU3O8 mineralisation used to develop the company’s U-pgrade uranium beneficiation process.
Elevate Uranium announces that 2 drill rigs are continuing with exploration at the Koppies tenement to define further potential eU3O8 mineralisation.
Images: Elevate Uranium Ltd & iStock
