Elevate Uranium’s Namibian mineral resource has increased to 112.1 Mlb U3O8, while the company’s global mineral resource has risen to 160.5 Mlb U3O8.
The company has upgraded its Koppies Deposit JORC mineral resource estimate from inferred to indicated status, with 78% of the resource now in the indicated category.
Elevate Uranium has also announced a 10.2 Mlb U3O8 maiden mineral resource estimate at the Hirabeb deposit, located south of the Koppies resource.
The mineral resource estimates at the Koppies and Hirabeb deposits increase the total Koppies Uranium Project resource to 66.1 Mlb U3O8 and the Namibian total to 112.1 Mlb U3O8.
Koppies is one of the shallowest uranium resources globally, with approximately 95% of the total mineral resource within 18.5 meters and 50% within seven meters of the surface.
Elevate Uranium says these parameters imply a potential low strip ratio and low-cost mining operation at Koppies, which would benefit the overall economics of any future operation.
The Hirabeb deposit has a mineralisation style and resource depth similar to the Koppies Resource.
Elevate Uranium’s managing director, Murray Hill, said the Koppies Uranium Project continues to mature, with 78% of the Koppies Resource upgraded to the JORC-indicated category.
Hill said the total Koppies Project mineral resource is now 66 Mlb U3O.
“We have also estimated a maiden resource at the nearby Hirabeb deposit, which added another 10.2 Mlb U3O8 to the Koppies project. “The success at Hirabeb highlights the project area’s potential as we continue to explore the ground and target further expansion of the resource base,” Hill said.
According to Hill, the company continues substantial exploration drilling programs at Hirabeb and several other projects.
He added that they could encounter previously unidentified mineralisation in areas where historical exploration has occurred after gaining geological knowledge at Koppies that uranium mineralisation extends into a weathered basement adjacent to the paleochannels.
“This knowledge drives us to explore the likelihood of identifying additional uranium mineralisation,” Hill said.
