Elevate Uranium (ASX:EL8) has reported a 31% increase in contained metal at its Marenica Uranium Project in Namibia, bringing the total mineral resource estimate (MRE) to 52.8 million pounds (Mlbs) uranium oxide at 180 parts per million (ppm).
The updated JORC MRE follows infill drilling of targets identified in February 2026, adding 12.6 Mlbs uranium oxide to the resource.
The company’s Namibian portfolio now totals 116Mlbs uranium oxide across 173Mlbs globally — one of the largest undeveloped uranium resource bases in the Erongo Region.
“In February, we reported a resource that had essentially doubled in grade following a comprehensive reanalysis of our historical dataset … with targeted infill drilling of the areas we identified as growth targets at the time,” Managing Director Murray Hill says of Marenica’s growth.
The updated resource comprises 16.8 million tonnes (Mt) at 205ppm uranium oxide indicated and 117.7Mt at 175ppm uranium oxide inferred at a 100ppm cut-off grade.
Mineralisation occurs in calcrete contained within palaeochannels, accounting for 98.6Mt at 180ppm uranium oxide, and weathered basement mineralisation totalling 35.8Mt at the same grade.
Resource geometry and development programs
The resource covers a strike length of approximately 9km with widths up to 9km, extending to a maximum depth exceeding 100m in limited northern areas.
The MRE utilised Multi Indicator Kriging (MIK) estimation across 3,874 drill holes totalling 89,850 metres. Block sizes of 50m by 50m by 2m were applied, with an expected selective mining unit size of 4m by 4m by 0.5m, reflecting anticipated surface mining methodology.
The company currently operates four drill rigs to convert inferred resources to indicated, the standard required to support financial studies.
Simultaneously, bulk samples from across the updated resource area are being processed through the company’s pilot plant in Namibia using its proprietary U-pgrade™ beneficiation process.
The Marenica Project sits within the company’s Central Erongo tenement, alongside the Koppies Project, building a district-scale development case.
Elevate Uranium is an Australian‑based exploration and development company advancing a portfolio of uranium projects in Namibia and Australia, anchored by the flagship Marenica and Koppies projects.
Write to JC Villarba at Mining.com.au
Images: Elevate Uranium
