Elevate Uranium has described the latest drill program results at its Marenica project as a new style of mineralisation, providing opportunities for additional targets for future drill programs.
The Marenica Uranium Project is 25 kilometres north of Orono’s Trekkopje Uranium Project and only 25 km southeast of the company’s Capri tenement.
Elevate Uranium drilled 44 holes for 1,701 metres since the end of the March quarter.
Exploration drilling during the quarter tested an array of targets based on interpreted paleochannel locations, radiometric, and detailed geological mapping. Particularly encouraging are several mineralised intersections in both pink and white granite, notably MAR2500, which displays an interval of 13 m at 203 eU3O8 ppm, including 3.5 metres at 326 ppm eU3O8.
Six mineralised intervals greater than 100 ppm U3O8 were intersected in MAR2500, with the deepest intersection at 58.5 metres, a depth over double that of holes drilled in this area.
A total of 24 metres of aggregated mineralisation was intersected in MAR2500.
Several other holes in the proximity of MAR2500 also intersected mineralisation, most of which were only drilled to a depth of 28 metres, so there is scope for mineralisation to extend deeper than the current drill depth.
Elevate Uranium’s managing director, Murray Hill, says the mineralisation at the Marenica Uranium Project has typically been intersected in palaeochannels.
Hill says the company has now identified another mineralisation style with a large, mineralised interval of 13 metres in thickness intersected in granite close to the surface.
He says the team is interpreting the results from that drill program, along with historical drilling in specific areas of the tenement, before planning future drill programs that could add to the current 61 Mlb U3O8 resource.
According to Hill, this discovery, along with mineralisation intersecting in the southeast of the project area, will form part of a future drilling program.
He adds that the diversification of the exploration programs over the past 12 months, outside of the more traditional paleochannel-hosted style of mineralisation, has proven successful.
“This new style of mineralisation identified at Marenica opens a new search space for us, no longer restricting exploration to palaeochannel uranium deposits,” Hill says.
Last week, Elevate Uranium announced that it had expanded the Namib IV mineralisation polygon, now about 11 km long by 7.5 km wide.
Namib IV is only 10 kilometres from the southern portion of the Koppies resource and is part of the Koppies Uranium Project.
Any resources delineated at Namib IV will contribute to the total Koppies Uranium Project resource base and could extend the potential mine life or enable an increased production rate at any future mining operation at Koppies.
The Koppies area in the Erongo region comprises Namib IV, Hirabeb and EPLs 7279 and 10780.
