Elevate Uranium Limited (ASX:EL8) Updates on Exploration and Development Progress
U-pgrade™ Demonstration Plant Progress
Elevate Uranium Limited (ASX: EL8) reports substantial advancements in its U-pgrade™ metallurgical beneficiation program on Koppies ore. The ongoing program is pivotal for designing a demonstration plant, which is set to begin operations by late calendar year 2025.
Exploration Results in Namibia
The company continues its resource expansion across its Namibian uranium projects, particularly at Hirabeb, Namib IV, Capri, and Marenica. Recent drilling at Hirabeb has revealed significant intersections, including 1.5m at 292 ppm eU₃O₈ and 2.0m at 545 ppm eU₃O₈ from various depths.
At Namib IV, remarkable results include 3.5m at 2,053 ppm eU₃O₈, indicating the strong potential for maiden resource estimates in 2025. Similarly, Capri’s ongoing drilling efforts reported notable intersections, with results such as 4.5m at 942 ppm eU₃O₈ from 7.5m depth.
Marenica’s exploration targets beyond known resource areas have also returned promising results, including 12.0m at 439 ppm eU₃O₈ from 14m.
CEO’s Comments
Murray Hill, Managing Director of Elevate Uranium, expressed enthusiasm about the progress. “We are focused on proving the benefits of our U-pgrade™ beneficiation process as we advance towards developing the Koppies Project. Exciting drilling results continue to affirm the potential of our Namibian portfolio,” he stated.
Future Outlook
Elevate Uranium has plans for further exploration and infill drilling to delineate mineralised regions throughout 2025. The company aims to validate the significant mineralisation trends indicated by recent drilling programmes and enhance the resource base for future mining operations.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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