Elevate Uranium has brought in more rigs for its 2024 drilling programs across its Namibian uranium exploration portfolio, which hosts 94 Mlb U3O8 of resources combined.
The Australian company owns Koppies, Hirabeb, Namib IV, Marenica and Capri projects in the Namib Desert.
Elevate has three reverse circulation drill rigs operating at the Koppies project, expanding the existing resource and increasing the confidence level from an inferred to an indicated category.
The resource expansion drilling program, which targets the mineralised south of the existing mineral resource envelope, is expected to revise the resource estimate by the end of 1Q of 2024.
The drill rigs will then start an infill drill program to increase the resource confidence, with subsequent studies to commence later in the year.
The fourth and fifth RC drill rigs will execute a high-impact regional drill program to identify discoveries and resource definition expansion within Elevate’s large land portfolio in Namibia.
Elevate Uranium’s managing director, Murray Hill, said the completion of the current resource growth stage for Koppies, expected by the end of the March Quarter, will trigger a new era for the company.
“This is indeed an exciting time for the Company; we have always known of the huge potential for exploration success in Namibia and how U-pgradeTM could be used to add value,” Hill said.
He added that the focus would change to advancing the Koppies Uranium Project through infill drilling and metallurgical test work to underpin technical studies and a future pilot plant.
