Elevate Uranium (ASX:EL8) is working towards a Scoping Study at its Koppies Project in Namibia, Africa. by early April 2024.
The $154.22 million market capitalisation company says ahead of the Scoping Study, it will delineate an updated inferred Mineral Resource Estimate (MRE) in April 2024.
The current MRE, which was reported on 8 November 2023, stands at 48 million pounds eU3O8.
Elevate also announces it has completed inferred resource drilling programs at the project, data from which will be used to aid in the upcoming resource upgrade.
Further, the company has immediately begun an additional drilling program to increase the JORC category of the MRE from inferred to indicated.
Managing Director Murray Hill says: “Data from the latest phase of the resource growth drilling is being processed and the updated resource estimation is in progress. The updated JORC inferred resource is expected to be released by early April.
The company considers the Koppies resource to be of sufficient size to take to the next level of development and as such 3 drill rigs are currently working on the infill JORC indicated drilling program.
Metallurgical samples are planned to be collected in April/May for an advanced metallurgical testwork program utilising the company’s proprietary U-pgrade beneficiation process.”
These samples will be gathered from specifically designed test pits, which will also provide valuable geological mining data for the Scoping Study.
Once all data is in hand, from metallurgical testing and drilling, the Scoping Study will begin.
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.
Write to Adam Drought at Mining.com.au
Images: Elevate Uranium
