
October 17, 2022
Elevate Uranium Limited (“Elevate Uranium”, or the “Company”) (ASX:EL8) (OTCQX:ELVUF) is pleased to announce the discovery of a 16 kilometre zone of continuous uranium mineralisation at EPL 7508 (known as Capri). Previous exploration using airborne electro-magnetic surveys identified extensive palaeochannels associated with radiometric anomalies in both the western and eastern areas of the tenement. Subsequently, this maiden drill program was completed over the palaeochannels in the western half of the tenement, resulting in this new uranium discovery. The eastern half of the tenement is yet to be drilled.
Highlights
- Significant uranium mineralisation identified over a continuous strike distance of 16 km.
- Mineralisation is less than 25 metres below surface.
- Intersections include:
- 3.5 metres at 438 ppm eU3O8 from surface (CAP0103)
- 4.5 metres at 942 ppm eU3O8 from 7.5 metres (CAP0154)
- 7.0 metres at 228 ppm eU3O8 from 1.5 metres (T0014)
- Capri is only 35 km northwest of the Company’s Marenica Uranium Project.
Figure 1 on the next page highlights the mineralisation identified during this drill program relative to the location of the palaeochannels.
Elevate Uranium’s Managing Director, Murray Hill, commented:
“This is another impressive uranium discovery – significant uranium mineralisation found over 16 kilometres of continuous strike from our maiden drill program at Capri, following on from successive discoveries at Koppies, Hirabeb and Namib IV. This is our fourth uranium discovery in Namibia over the past three years and is testament not only to our high-quality land position but also our exploration methods, which are bearing fruit.
2022 has delivered great new opportunity for Elevate Uranium, including finding this 16 kilometre strike of uranium mineralisation at Capri, quantifying an initial 20 Mlb uranium mineral resource at Koppies and now working towards expanding the Koppies resource with two drill rigs currently operating on the tenement. We look forward to what further exciting outcomes can be achieved in 2022.
The Company will now take time to assess the results of the Capri drill program and prioritise those results against our other Namibian discoveries and subsequently plan future exploration programs.”
Click here for the full ASX Release
This article includes content from Elevate Uranium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
EL8:AU
The Conversation (0)
5h
US, Brookfield and Cameco Strike US$80 Billion Nuclear Reactor Deal
The US government has entered into an US$80 billion partnership with Brookfield Asset Management (NYSE:BAM,TSX:BAM) and Cameco (TSX:CCO,NYSE:CCJ) to construct new Westinghouse nuclear reactors across the country.The initiative aims to accelerate the domestic nuclear industry’s revival while... Keep Reading...
28 October
5 Best-performing Canadian Uranium Stocks of 2025
The uranium market is entering the final quarter of 2025 with renewed momentum after a volatile year marked by tightening supply, bullish investor sentiment and lingering structural challenges. Spot U3O8 prices have surged from a March low of US$63.25 per pound to a year-to-date high of US$83.18... Keep Reading...
27 October
Quarterly Activities/Appendix 5B Cash Flow Report
American Uranium (AMU:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
24 October
Thor Energy Plans to Recover Uranium, Critical Minerals from Colorado Mine Waste
Thor Energy (ASX:THR,LSE:THR) has finalized a binding agreement with US-based DISA Technologies to treat abandoned uranium mine waste in Colorado to recover saleable uranium and other critical minerals.Under the agreement, DISA will deploy its patented high-pressure slurry ablation technology at... Keep Reading...
23 October
Queensland Uranium and Rare Earth Acquisition Completed
Basin Energy (BSN:AU) has announced Queensland Uranium and Rare Earth Acquisition CompletedDownload the PDF here. Keep Reading...
23 October
North Shore Makes Final Option Payment And Completes Earn-In For West Bear Property
North Shore Uranium Ltd. (TSXV:NSU) ("North Shore" or the "Company") is pleased to announce that it has met its final earn-in obligation for the West Bear property ("West Bear")under an option agreement dated April 18, 2022 (as amended, the "West Bear Option Agreement") with Gem Oil Inc. ("Gem... Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00





