Elevate Uranium’s December 2025 quarterly report highlights multiple high-grade uranium intersections at the Namib IV prospect, including 615 ppm eU₃O₈ over 4.5 metres and near-surface intervals exceeding 2,700 ppm eU₃O₈, reinforcing the project’s potential ahead of a maiden mineral resource estimate targeted for early 2026.
Namib IV forms part of the company’s broader Koppies Uranium Project in Namibia, where Elevate intensified drilling during the quarter to build its resource expansion pipeline.
Across its Namibian portfolio, the company completed 260 drill holes for 11,330 metres, with infill drilling at Namib IV focused on converting mineralisation into a defined resource.
Additional drilling at the Koppies deposit included 15 holes testing for depth extensions beneath the existing resource, while work across the Marenica Dome area continued to refine geological interpretation ahead of a planned resource update.
Three deeper holes were drilled at the Capri prospect, with geological analysis underway.
The quarterly report also notes progress on Elevate’s proprietary U-grade™ beneficiation technology, with assembly of the pilot demonstration plant completed in Namibia during the period.
Commissioning and operator training were nearing completion at quarter end, with steady-state operations expected to begin in late January 2026.
U-grade™ is designed to upgrade surficial uranium mineralisation before conventional processing, potentially reducing downstream capital and operating costs. Data generated from the pilot plant will be used to assess recovery performance and scalability under operating conditions.
Outside Namibia, Elevate completed a three-hole, 1,860-metre drilling programme at the Angela Uranium Project in Australia’s Northern Territory, targeting mineralised horizons identified through seismic interpretation. Results are expected in the March 2026 quarter.
The company closed the quarter with a strengthened balance sheet following the completion of a A$25 million institutional placement, which provided funding for drilling, pilot-plant operations, and technical studies across its project portfolio.
Elevate said the December quarter results position the company to convert exploration success at Namib IV into defined resources while advancing U-grade™ toward commercial readiness.
