Elevate Uranium (ASX:EL8) has unveiled its maiden inferred mineral resource estimate at the Koppies Uranium Project in the Erongo region of Namibia.
Elevate estimates that the site contains 10.1 million pounds (4.58 million kilograms) of triuranium octoxide (also known as yellow cake) at a 100 parts per million equivalent of triuranium octoxide cut-off grade.
The deposit hosts calcrete-filled palaeochannels in the southwest portion, basement schists, and granites that are adjacent to and beneath the palaeochannel. The basement-hosted part accounts for about 81% of the total resource.
The mineralised system has a total 5km strike length with widths ranging between 400 and 800 metres at a maximum 25m depth.
The deposit was drilled completely vertically. Mineralisation is open to the northeast and south of the resource boundary. Further exploration targets on the tenement were not drill tested at the time of writing.
“Our targeting criteria have now been validated with a maiden resource of 10.1 million pounds of triuranium octoxide at Namib IV,” Managing Director Murray Hill says.
“With mineralisation still open in multiple directions, and untested targets remaining on the tenement, we believe this deposit has further to run.”
Elevate Uranium is a uranium exploration and development company with assets in Australia and Namibia.
Write to Richard Szabo at Mining.com.au
Images: Elevate Uranium
