Tenement EPL 7278 (called Hirabeb) is the largest of Elevate Uranium’s strategically located tenements in the Namib Desert region of Namibia.

The maiden exploration program, which included Horizontal Loop Electromagnetics (HLEM) and drilling, has identified an extensive palaeochannel system with uranium mineralisation intersected over a distance of 16 kilometres within the palaeochannel.

With an area of 730 square kilometres, Hirabeb is Elevate’s largest tenement in the Namib Area, 15 times the area of the Koppies tenement.

Figure 1 shows the location of the two zones of mineralisation discovered at Hirabeb.  Exploration drilling to date is wide spaced with drill lines generally about 500 metres apart.

The greater Namib Area, including Hirabeb, is characterised by featureless terrain with no obvious surface expression, which highlights the importance of surface geophysics (HLEM) and drilling to locate palaeochannels.

Figure 1 - Location of Hirabeb drill holes relative to the palaeochannels

The location of Hirabeb (EPL 7278) relative to Elevate’s other tenements and nearby known calcrete deposits, is shown in Figure 2 below.

Figure 2 – Location of Hirabeb in the Namib Area, Namibia

Mineralisation identified within the palaeochannels is calcrete hosted uranium, the same style of ore used to develop Elevate’s U-pgrade™ uranium beneficiation process. The Company, is therefore, confident that based on the results of the Marenica Uranium Project Scoping Study, U-pgrade™ could be successfully applied if mining and processing operations were developed at Hirabeb, for a consequent significant reduction in development costs compared to Elevate’s peers with similar grade ores in Namibia.