Elevate Uranium announces improved mineral resource

Prospective uranium miner Elevate Uranium Limited recently announced an upgrade of the Koppies Deposit JORC Mineral Resource Estimate from Inferred to the Indicated status, with 78% of the resource now in the Indicated category. The Koppies deposit is part of the Koppies Uranium Project and is wholly owned by Elevate Uranium.

“The Koppies Uranium Project continues to mature, with 78% of the Koppies Resource upgraded to JORC Indicated category. This is an important step in derisking the project, along with undertaking an U-pgradeTM metallurgical testwork programme on mineralised samples from the resource,” Elevate Uranium CEO Murray Hill said.

Elevate was also able to confirm the presence of another uranium concentrate at its nearby Hirabeb deposit.

“We have also estimated a maiden resource at the nearby Hirabeb deposit, which added another 10.2 million pounds of uranium concentrate to the Koppies Project. The success at Hirabeb highlights the project area’s potential as we continue to explore the ground and target further expansion of the resource base."

The work done by Elevate has increased the mineral resource of its Namibian deposit to over 160 million pounds of uranium concentrate.

“This knowledge drives us to explore the likelihood of identifying additional uranium mineralisation. Our Namibian mineral resource has increased to 112.1 million pounds of uranium concentrate, while the global mineral resource has increased to 160.5 million pounds of uranium concentrate,” Hill said.