Elevate Uranium has announced an updated Inferred Mineral Resource Estimate of 48 Mlb eU3O8 for its Koppies Uranium Project in Namibia.
Koppies is one of Elevate Uranium’s five Namibian properties, including Marenica Uranium Project, Hirabeb, Namib IV, and Capri.
Until now, the Koppies uranium project had a resource estimate of 20 million pounds of eU308.
The mineral resource estimate increase represents a 136% increase in the Koppies resources and a 42% increase in Elevate Uranium’s Namibian resources.
Koppies, under EPL 6987 in the Namib Desert, is one of the shallowest uranium resources globally, with 95% of the resource within approximately 15 metres of the surface and 50% within about six metres of the surface.
It was the first tenement to be drilled by Elevate Uranium.
Elevate Uranium’s managing director, Murray Hill, said achieving the 48 Mlb eU3O8 resource is a milestone for the Koppies Uranium Project and the company.
“The 136% increase in the resource substantially advances the status of the Koppies project, increasing our Namibian mineral resources by 42% to 94 Mlb eU3O8 and our global resources to 142 Mlb eU3O8,” Murray said.
He added that these parameters are important for any potential low strip ratio, low-cost mining operation at Koppies.
Elevate Uranium has three drill rigs operating to expand the newly reported resource.
“The next resource update will include the drilling currently in progress using three drill rigs to the south of Koppies 2 and into Koppies 4 and is expected to be completed during the March Quarter of 2024,” Murray said.
