Elevate Uranium

2023 Drilling Program Underway

Elevate Uranium Limited (“Elevate Uranium”, or the “Company”) (ASX:EL8) (OTCQX:ELVUF) is pleased to provide the market with an update on the continuing success of its drilling programs at the Koppies Project in Namibia and to advise that the 2023 drilling program has commenced.


Highlights:

  • Latest drilling results indicate:
    • Koppies 2 now connects with Koppies 4
    • Koppies 1 is now considered likely to connect with Koppies 2
    • Most likely Koppies 1, 2, 3 and 4 are all connected, for an aggregate length of 20 km
  • Two drill rigs have recommenced drilling at Koppies after the Christmas / New Year break
This update follows on from the discovery of Koppies 4 in November 2022 (see ASX release titled “Koppies Mineralisation Increased to Over 19 km” dated 22 November 2022), and the earlier announcement of the JORC (2012) Inferred Mineral Resource Estimate of 20.3 million pounds eU3O8 at Koppies 1 and 2 (see ASX release titled “22% Increase in Mineral Resources” dated 4 May 2022). The latest drilling results have highlighted the following:
  • Mineralisation identified south of Koppies 2, indicates that Koppies 2 connects with Koppies 4,
  • Mineralisation identified between Koppies 1 and 2, indicates that these two areas are also likely connected,
  • The continuity between these areas reinforces the likelihood that the Koppies mineralised area has an aggregate length of 20 km.

Elevate Uranium’s Managing Director, Murray Hill, commented:

“The latest drill results which identify mineralisation south of Koppies 2, indicates that Koppies 2 connects with Koppies 4 and further suggests that the mineralisation extends the full north-south extent of the Koppies tenement. We have now demonstrated that mineralisation is likely continuous between all four zones of the Koppies project extending for a strike length of 20 km and up to 4 km in width.

Drilling has now recommenced after the Christmas / New Year break, with two drill rigs operating in the greater Koppies area to further locate and define the uranium mineralisation. We expect that the drilling programs to be undertaken in 2023 will further define and consolidate the extent of the greater Koppies area.”

Exploration Summary and Updated Geological Model

Estimation of the JORC (2012) Inferred Mineral Resource Estimate of 20.3 million pounds eU3O8 at Koppies 1 and 2, and subsequent discovery of mineralisation extensions at Koppies 3 and 4, have been vital in improving the geological understanding of the Koppies Project. On a regional scale, aerial satellite imagery clearly shows a strong northeast-southwest (NE/SW) set of lineaments, supported by regional airborne magnetic survey data. Field observations and geological mapping confirm these rocks to be the Damara Group schists. Traversing from west to east at Koppies, there is a transition from schist to the Donkerhoek Granite. Rocks within the transition zone are historically mapped as either granite with schist inclusions or schists with granite inclusions. This description can be simplified with the label of “migmatite”, which is strongly indicative of shearing occurring at the contact between a younger intrusive granite batholith and the older, surrounding, metamorphic schists. As the batholith has intruded into the crust, heat from the magma will have partially melted the immediate surrounding country rocks, while more brittle lithologies will crack under the pressure forming faults and fractures of various scales. The combined heat, faulting and shearing of these rocks is likely to have served as pathways for later fluid movement of mineralisation into the overlying sediments once regional tectonism ceased, resulting in the basement-hosted mineralisation. Younger surface mineralisation is likely to have been formed from a combination of mobilisation of uranium from basement lithologies and lateral flow through surface drainage (from “hot” uranium-rich granite outcrops) into the overlying channel fill and evaporitic calcretes.

Incorporating regional-scale airborne radiometrics data reveals a strong correlation between the position of this structural transition zone and moderate to strong anomalism on the uranium radiometrics channel. Uranium grades returned from the 2022 Koppies 3 drill campaigns confirmed that these radiometric anomalies are coincident with uranium mineralisation. Additionally, in a sedimentary setting, uranium mineralisation is known to have a “pinch-and-swell” appearance, both laterally and vertically, dependent on the varying permeabilities and porosities of the host sediments through which the uraniferous fluids flow (in this case, within a palaeochannel). Underlying structures in the basement below the mineralised palaeochannels can also greatly influence the permeabilities and porosities of the overlying channel fill as tectonism is reactivated over geological time.

Using the derived exploration model here, it therefore becomes apparent that the uranium mineralisation identified at Koppies 2 should logically extend through into, and connect with, the uranium mineralisation discovered at Koppies 4. The radiometric anomalism remains consistently coincident with the mapped position of the migmatite/shear zone between Koppies 2 and Koppies 4, which has been corroborated by uranium grades returned from the latest drilling. The “pinch-and-swell” aspect of palaeochannels is interpreted to continue between these two domains and appears to continue to the southwest of Koppies, roughly following the position of the migmatite/shear zone.


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)
Gold Investing

Renforth’s Parbec Surface Program Concluded, Succesfully Intersects Mineralized Lenses

Renforth Resources (CSE:RFR) (OTC:RFHRF) (“Renforth” or the “Company”) is pleased to announce that field exploration at Parbec for May/June 2019 has concluded with the successful intersection of, amongst other positive developments, quartz veins on surface as projected from drillholes intersecting gold south of the Cadillac Break associated with a diorite splay, previously disclosed drill results which were projected to surface as seen below included 5.55 g/t Au over 0.5m in Renforth’s PAR-18-86 and in the earlier PAR-08-03 drilled by Globex 2.35 g/t Au over 3.3m.

This program has demonstrated that Parbec, has significant structural complexity, known in some areas to be associated with gold, in other newly exposed areas assays are pending. The program targeted 4 areas of interest, namely (1) the “Diorite Nose” in the NW, where the Diorite Splay and Cadillac Break interact and prior trenching discovered gold, an area (2) south of this, over the Pontiac Sediments and Diorite Splays, an area where prior drill holes intersected gold at depth, (3) the examination of known outcrop in an undrilled area of the Cadillac Break and (4) target gold bearing 2018 grab samples in an undrilled area near the ramp face.

Keep reading...Show less
C29 Metals

New Tenements Approved to Commence Geological Works

C29 Metals receives Category 4 exploration works approval for the new southern & northern tenements, strong local support, and a Social Support Agreement signed. Drilling Permit received for Ulytau Uranium project area.

C29 Metals Limited (“C29” or the “Company”) is pleased to announce that it has received Category four (4) exploration approval enabling the immediate commencement of tenement wide, geophysical, field mapping and soil sampling programs at its newly granted southern and northern tenements.

Keep reading...Show less
GTI Energy

Activity Update

GTI Energy Ltd (GTI or Company) is pleased to provide the following activity update. The anticipated Mineral Resource Estimate (MRE) and Exploration Target (ET) updates for GTI’s Lo Herma ISR uranium project (Lo Herma) in Wyoming’s Powder River Basin remains on track to be delivered by year end. A decision will then be made on commencing an Interim Scoping Study for the project.

Keep reading...Show less

Cameco Reports Document Filings

All amounts in Canadian dollars unless specified otherwise

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

NexGen Announces Best Hole to Date and High-Grade Expansion at Patterson Corridor East Concluding a Successful 2024 Drilling Program

  • NexGen's 2024 exploration campaign delivered a new discovery on Rook I at Patterson Corridor East ("PCE") 3.5km east of Arrow.
  • Subsequent drilling has materially expanded the mineralized zone to 600 m strike length and 600 m vertical extent with 19 of 30 holes intersecting mineralization including 10 holes with multiple intervals >10,000 cps.
  • Today's announcement highlights the best hole to date at PCE (RK-24-222) returns 17.0 m wide vein with multiple high intensity (>61,000 cps) occurrences.
  • In 2024, PCE is the largest drill program in the Athabasca Basin by any Company at 34,000 meters (m).

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is proud to announce the completion of its 2024 drilling campaign at Patterson Corridor East (PCE) that included more than 34,000 m across a total of 46 drillholes. Upon initial discovery of intense uranium mineralization at PCE ( see March 11 News Release ), the Company directed all drilling activity to focus exclusively on PCE, whereby 19 of 30 holes intersected mineralization. Bold and systematic spacing of drillhole intercepts have quickly grown the discovery from a single hole to a broad and continuous new uranium discovery. Real-time evaluation of results throughout the duration of the program focused on determining the overall outer extents of the mineralized zone and in parallel, precisely targeting high-grade sub-domains (Figures 1 and 2, Table 1).

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
AuKing Mining (ASX:AKN)

AuKing Mining


Keep reading...Show less
Cameco logo surrounded by US dollars.

Cameco Raises 2024 Uranium Production Guidance, Boosts Dividend in Q3 Results

Major uranium producer Cameco (TSX:CCO,NYSE:CCJ) shared its third quarter results on Thursday (November 7), reporting a strong performance despite production setbacks at its Kazakhstan operations.

The company reported uranium production of 4.3 million pounds, up 43 percent from the year-ago period. Sales volumes came in at 7.3 million pounds, relatively flat from 7 million pounds in Q3 2023.

Revenue stood at $721 million, a 75 percent increase year-on-year. Cameco's net earnings attributable to shareholders were $7 million, a decrease of 95 percent from the $148 million seen 12 months ago.

Keep reading...Show less

Latest Press Releases

Related News

×