Elevate Uranium Boosts Koppies Resource Estimate to 66.1 Million Pounds of U3O8

Exploration company Elevate Uranium (ASX:EL8,OTCQX:ELVUF) provided investors with an updated mineral resource estimate for its Koppies uranium project in Namibia, Africa, on October 9.

The total resource for Koppies now stands at 66.1 million pounds of U3O8, with 78 percent in the indicated category.

Elevate attributes the increase at Koppies to a maiden mineral resource estimate completed at the Hirabeb deposit, which has been shown to hold an inferred mineral resource of 10.2 million pounds of U3O8.

Elevate last adjusted the mineral resource estimate for Koppies in mid-April, reporting 57.8 million pounds of U3O8, a 20 percent increase from its November 2023 update of 48 million pounds of U3O8.

“(The upgrade) is an important step in derisking the project, along with undertaking an U-pgrade metallurgical testwork program on mineralised samples from the resource,” said Elevate Managing Director Murray Hill last week.

The company's total Namibian resource base now comes in at to 112.1 million pounds of U3O8, while its global uranium resource base has expanded to 160.5 million pounds of U3O8.

Metallurgical testwork is in progress at Koppies, and the results will inform further technical studies and an U-pgrade demonstration plant at the site. “The success at Hirabeb highlights the project area’s potential as we continue to explore the ground and target further expansion of the resource base,” Hill added.

Aside from that, Elevate is drilling at Hirabeb and several other projects. The geological knowledge gained at Koppies will allow it to anticipate unidentified mineralisation in unexplored areas and identify additional mineralisation.

Koppies was the first Namibian tenement to be explored by Elevate. The project is located in the Namib Desert region, next to other uranium and known calcrete deposits.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.