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July 27, 2021
Elevate Uranium Limited ("Elevate", the "Company") (ASX:EL8) is pleased to announce that significant results have been received from an extensive airborne electromagnetic ("Airborne EM") survey flown over the Company's uranium tenements, in the Namib Area of Namibia.
- Significant results have been received from an extensive airborne electromagnetic ("Airborne EM") survey flown over the Company's tenements, in the Namib Area of Namibia.
- The Airborne EM identified additional expansive palaeochannel systems throughout the Namib Area, that cover an area of approximately 347 square kilometres, with a corresponding length of 280 kilometres.
- A total of 5,217 line kilometres were flown at a 250 metre line spacing, using a SkyTEM helicopter based system.
- The Company's exploration team will now design and undertake drilling programs to confirm the palaeochannel locations and the grade of uranium mineralisation. Due to the extensive area of these systems, the Company anticipates drilling programs will continue into 2022.
Elevate Uranium Managing Director, Murray Hill, commented: "The Airborne EM survey has produced outstanding results, identifying additional expansive palaeochannel systems throughout the Namib Area, that cover an area of approximately 347 square kilometres, with a corresponding length of 280 kilometres. This survey provides the Company with many additional exploration targets to explore, and the exploration team will now design and undertake drilling programs to confirm the palaeochannel locations and the grade of uranium mineralisation. Due to the extensive area of these systems, the Company anticipates drilling programs will continue into 2022."
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