Elevate Uranium has announced an updated JORC Inferred Mineral Resource Estimate of 48 Mlb eU3O8 (uranium) for the Koppies Uranium Project in Namibia.
This is a 136% percent increase in the resource estimate thereby strengthening the status of Koppies project.
Elevate Uranium’s Managing Director, Murray Hill, commented: “Achieving the 48 Mlb eU3O8 resources is a milestone for the Koppies Uranium Project and the Company. The 136% increase in the resource substantially advances the status of the Koppies project, increasing our Namibian mineral resources by 42% to 94 Mlb eU3O8 and our global resources to 142 Mlb eU3O8.
Koppies is one of the shallowest uranium resources globally, with 95% of the resource within approximately 15 metres of the surface and 50% of the resource within approximately 6 metres of the surface. These parameters are important for any potential low strip ratio, low-cost mining operation at Koppies.
“Due to the large surface area of mineralisation at Koppies, drilling activities and resource updates are split into phases. The Company currently has three drill rigs operating to expand the resource reported. The next resource update will include the drilling currently in progress using three drill rigs to the south of Koppies 2 and into Koppies 4 and is expected to be completed during the March Quarter of 2024”.