Highlights
- The Mineral Resource grade at Marenica has doubled to 185 ppm U3O8 for 40.2 Mlb U3O8 at a 100 ppm cut-off grade.
- At a 50 ppm cut-off grade the Marenica Mineral Resource increased by 1.8 Mlb to 59.0 Mlb U3O8 with a 32% increase in grade to 124 ppm U3O8, compared to the previous JORC 2004.
- Some areas of the previous resource have been excluded due to wide spaced drilling. Infill drilling is scheduled to commence this month to bring most of these areas back into the resource.
Separate infill drilling programs to convert areas of the new JORC Mineral Resource from Inferred to Indicated category are scheduled to commence later this month.
ASX-listed Elevate Uranium has announced a significant milestone for its Marenica Uranium Project in Namibia. Following a comprehensive re-analysis of over 5,000 historical drill holes throughout 2025, the JORC Mineral Resource Estimate (MRE) has been updated to JORC 2012 standards.
Elevate Uranium Managing Director, Murray Hill, commented: “The new resource of 40.2 Mlb U308 at a grade of 185 ppm U308 is essentially double the previous resource grade. This resource update is a transformative milestone for the Marenica Uranium Project in Namibia. A significant reanalysis and rework of the underlying data from over 5,000 historical drill holes during 2025, enabled estimation of this more robust mineral resource which materially enhances the development potential of the Marenica Project.
The updated MRE excludes some mineralised areas that do not meet the Company's current drill density standards, reflecting a conservative approach designed to maximise confidence and reliability, we view this as a clear growth opportunity. Infill drilling programs, commencing later this month, are specifically designed to bring these areas back into the resource. Simultaneous drill programs will target upgrading areas of Inferred resource to the Indicated category. With this significant increase in grade and a robust, re-validated database in place, Marenica now offers a reduced risk foundation to accelerate our strategy of becoming a leading uranium developer.”
