Elevate Uranium reported exploration spending of about US$3.09 million (≈N$58 million) during the December 2025 quarter, covering drilling, technical studies and development work across its uranium portfolio, including extensive programmes in Namibia’s Erongo region.
According to the company’s half-year financial report for the six months ended 31 December 2025, exploration work in Namibia during the period included 260 drill holes for a total of 11,330 metres across its project areas.
Much of the drilling was concentrated within the Koppies Uranium Project, where Elevate is advancing several deposits and exploration targets.
The project hosts the 55.9-million-pound U₃O₈ Koppies resource together with the 10.2-million-pound Hirabeb deposit, forming one of the company’s main uranium development clusters in Namibia.
At the Namib IV prospect, which lies within the broader Koppies project area, drilling focused on infill work aimed at supporting the declaration of a maiden mineral resource targeted for early 2026.
Since the end of the September quarter alone, 217 holes totalling 6,091 metres had been drilled and gamma-logged at Namib IV as the company worked to convert mineralised zones into a defined resource.
Additional exploration work was carried out at the Koppies deposit, where 15 reverse-circulation holes, each between 80 and 90 metres deep, were drilled to test potential extensions of uranium mineralisation beneath the current JORC-compliant resource.
Further drilling took place at the Marenica Dome area, part of the Marenica Uranium Project, where 25 reverse-circulation holes, ranging in depth from 82 to 159 metres, were completed to understand the geology better and investigate the potential for granite-hosted uranium mineralisation.
Exploration also extended to the Capri prospect, where three holes reaching depths of about 230 metres were drilled to test a mineralised anomaly identified through gamma probing of a historical water bore.
Alongside drilling, Elevate assembled its U-pgrade™ pilot demonstration plant in Namibia during the reporting period. Commissioning and operator training were nearing completion by the end of the period, with steady-state operations expected to begin in early 2026.
The plant is designed to test the company’s proprietary beneficiation technology, which concentrates uranium minerals before conventional processing and could significantly improve the economics of Namibia’s generally low-grade uranium deposits.
Elevate’s Namibian portfolio includes the Koppies, Hirabeb, Namib IV, Marenica, and Capri projects, all located within the country’s central Namib uranium province, one of the world’s most important uranium-producing regions.
