Elevate Uranium is continuing with resource growth drilling across the Koppies Uranium Project at Namib IV, about 20 km from the company’s other project, Koppies.
Namib IV is under EPL 7662.
Although Elevate Uranium discovered the Namib IV mineralisation in 2021, exploration was deferred in favour of the drilling programs to grow the Koppies resource. Exploration started at Namib IV late in 2024, with the strategy influenced by the experience gained from exploration of the basement-hosted mineralisation encountered at the Koppies resource.
Additional resources at Namib IV will enhance the overall project and may extend the mine life or increase production rates at any future mining operation at Koppies.
The current drilling program is systematically testing the extent of mineralisation, with future in-fill drilling aimed at delineating a maiden resource in 2025.
Apart from Namib IV and Koppies, Elevate Uranium also owns Hirabeb and Capri.
The Koppies Project has a JORC uranium resource of 66.1 Mlb U3O8, 67% classified as an indicated resource and 33% as an inferred resource.
At the Marenica Uranium Project, in which Elevate Uranium has 75% interest, the inferred uranium resource is 61 Mlb U3O8.
Elevate’s global uranium resource is 161.1 Mlb U3O8, with the Namibian resources representing 12.1 Mlb U3O8.
