Elevate Uranium

16 km of Uranium Mineralisation at Capri

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)
American flag overlays a glowing nuclear power plant with cooling towers at sunset.

Trump’s Nuclear Revival Plan Boosts Uranium Prices, Sends US Miners Soaring

Uranium prices are on the rise after President Donald Trump signed a series of executive orders aimed at revitalizing the US nuclear industry — including measures to strengthen the domestic fuel supply and expand the nuclear workforce.

On Tuesday (May 27), the U3O8 spot price climbed to US$72 per pound, its first move above the US$70 mark since early February.

The positivity and Trump’s promise to fast track mine permits has also benefited uranium companies with projects in the US.

Keep reading...Show less
Greenvale Energy

Greenvale Energy


Keep reading...Show less
Man analyzes charts on screens with power plant cooling towers in the background.

Uranium Investors Bullish as Trump Signs Executive Orders to Boost Nuclear Industry

Nuclear energy and uranium stocks surged after US President Donald Trump signed a sweeping set of executive orders aimed at overhauling nuclear policy and accelerating the deployment of next-generation reactors.

The orders, which were signed on May 23 with industry leaders present, mark the Trump administration’s most aggressive push yet to redefine nuclear power as central to America’s energy, technological and defense future.

“We’re also talking about the big plants — the very, very big, the biggest,” Trump said during the signing ceremony at the Oval Office. “We’re going to be doing them also, but I think our focus today is the smaller module.”

Keep reading...Show less
Blue Sky Uranium (TSXV:BSK)

Blue Sky Uranium

Keep reading...Show less

Latest Press Releases

Related News

×