Elevate Uranium Limited (ASX: EL8 | OTC: ELVUF) has provided an update on the extensive exploration and pre-development programmes in progress on its Namibian and Australian project portfolios.
The company currently has five reverse circulation (RC) drill rigs operating in Namibia. Drilling is currently focused on expansion and increasing the level of certainty around the company’s high-priority projects at Koppies, Hirabeb, and Capri. Three rigs are working at the flagship Koppies project on infill drilling to convert the existing Inferred resource to the higher confidence level of an indicated resource. The Hirabeb and Capri projects have one rig each working on maiden resource delineation and exploration programs. Each rig typically completes approximately 25 holes per week for a weekly total of 125 holes between the five rigs. This scale of drilling reflects the large strike length of the mineralized envelopes of these projects and the shallow nature of the drill holes, typically 28m.
Elevate Uranium’s managing director, Murray Hill, commented: Five reverse circulation drill rigs are progressing well on the exploration and infill drilling programmes, with the aim of increasing the confidence level of the Koppies resource and adding pounds at the other projects. Three of those drill rigs are operating at Koppies, converting the existing inferred resource to JORC indicated resource. The other two drill rigs are focusing on our Hirabeb and Capri projects to further delineate mineralization identified from previous broad spaced exploration drilling programmes.”
“We have drilled 1,979 holes for a total of 52,698m on the programmes on these three projects alone this calendar year, in addition to holes drilled at Koppies prior to the resource update in April. At Hirabeb, we achieved some excellent results, including 15.5m at 599 ppm U3O8 and 12.0m at 451 ppm U3O8, 7.5m at 616ppm U3O8, and 4.0m at 1,198 ppm U3O8,”
“These programmes are an important step towards the development of our projects, and we are encouraged by the progress made so far this year. I’m excited about commencing the U-pgradeTM testwork programme on Koppies ore samples and planning for the pilot plant operation. In the Northern Territory of Australia, our joint venture partner at the Bigrlyi Uranium Project has commenced a drilling program aimed at growing the uranium resource by targeting extensions of known mineralization in high-grade areas, and we look forward to the progress of this three-month programme.” Added Murray.
The company plans to maintain the current level of activity and execute on its growth and exploration plans throughout the remainder of 2024.
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