Elevate Uranium (ASX:EL8) has delineated a 11km by 7.5km envelope of uranium mineralisation at the Namib IV tenement within its Koppies Project in Namibia, following a systematic broad-spaced drilling program.
Conceptual targets were identified across the northwestern, southwestern, and southeastern areas of the tenement, and drilled last month.
The drilling program consists of 118 drillholes across 3,322m, followed by downhole gamma probing.
The program identified calcrete-hosted mineralisation where palaeochannel was interpreted, with the drill line spacing between 400m to 600m, and each drillhole roughly spacing 200m.
Intersections at Namib IV hosts weathered granite and carbonate-veined schist, not appearing to weather below the palaeochannels as the company originally anticipated.
Elevate intends on investigating the source of uranium and controls on mineralisation further in an upcoming infill drill program.
Managing Director Murray Hill says that while current drilling focuses on determining the extent of mineralisation, the company hopes to better define portions of the higher grade mineralisation for a maiden resource estimate later in the year.
“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 mineralisation,” Hill says.
“We have identified mineralisation 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.”
Following US President Donald Trump’s plan to fast-track nuclear projects has ignited a global demand for uranium, as reported by Mining.com.au.
Uranium is a radioactive metal that can be used as a source of concentrated energy, which is crucial to aiding the global transition towards net zero greenhouse gas emissions.
Elevate Uranium is an exploration company focused on the development of its uranium projects spanning Namibia and Australia.
The company will be attending the Noosa Mining Investor Conference, held between 23-25 July, at the Peppers Noosa Resort.
Mining.com.au is an official media partner of this year’s conference.
Write to Maddison Elliott at Mining.com.au
Images: Elevate Uranium
