ASX-listed Elevate Uranium has announced the delineation of a large, mineralised polygon at the Company’s Namib IV tenement, part of the Koppies Uranium Project, wholly owned by Elevate Uranium.
Elevate Uranium’s Managing Director, Murray Hill, commented: “The Koppies Uranium Project continues to expand outside of the Koppies Resource Area, with uranium mineralisation at the Namib IV tenement increasing, with the mineralised polygon now about 11 km long by 7.5 km wide. While the current drilling phase is focused on determining the extent of mineralisation, future infill drill programs in selected areas will better define portions of higher-grade mineralisation, with a view to estimate a maiden mineral resource later in the year, adding to the 66 Mlb U3O8 at the Koppies Project. Our exploration programs have diversified over the past 12 months to include a variety of targets in addition to the more traditional palaeochannel hosted style of mineralisation. We have identified mineralisation in basement lithologies at Koppies and Hirabeb, and now at Namib IV. These targets open a new search space for us, no longer restricting exploration to palaeochannel uranium deposits.”
Namib IV Tenement
This calendar year, exploration at the Namib IV prospect, located within the Koppies Uranium Project, focused on further defining the extent of anomalism across the central project area via continuation of broad-spaced drilling. In tandem with this, the Company completed drilling of several early-stage, conceptual targets throughout the northwestern, southwestern and southeastern extremities of the tenement. The latter drilling phase was completed last month.
The systematic approach through the central project area has proven successful and delineated an extensive mineralised envelope approximately 11 kilometres by 7.5 kilometres. Drill line spacing is wide, at 400 to 600 m and hole spacing is typically 200 m.
As the company progresses Namib IV towards a maiden mineral resource, the next steps will include additional step-out drilling to define the extent of the mineralisation, followed by infill drilling of selected areas to better define portions of higher-grade mineralisation, which will then be drilled out at sufficient spacing to report the maiden resource.