Tenement EPL 6987 (called Koppies) was the first of Elevate’s strategically located tenements in the Namib Desert region of Namibia, to be explored. Exploration and subsequent resource drilling has identified a 20 Mlb uranium resource less than 20m in depth.

The location of Koppies relative to Elevate’s other tenements and nearby known calcrete deposits, is shown in Figure 1.
The drill hole locations, resource grade shell and new discovery at Koppies are shown in Figure 2.

Figure 1 – Location of Namib IV in the Namib Area, Namibia

Figure 2 - Location of Drill Holes, Resource Outline and New Discovery at Koppies

Uranium mineralisation identified within the palaeochannels is calcrete hosted, 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 Scoping Study, U-pgrade™ could be successfully applied if mining and processing operations were developed at Koppies, for a consequent significant reduction in development costs compared to Elevate’s peers with similar grade ores in Namibia. For more information refer to the U-pgrade™ page of our website.

An initial JORC Inferred Resource of 20.3 Mlb U3O8 has been estimated at Koppies.  There is significant potential for expansion of the resource beneath and adjacent to the palaeochannels and in the new discovery area east of Koppies 1.