Tenement EPL 6987 (called Koppies) was the first of Elevate Uranium’s strategically located tenements in the Namib Desert region of Namibia, to be explored. Exploration and subsequent resource drilling has identified a 48 Mlb uranium resource less than 20m in depth.
Uranium mineralisation identified at Koppies is 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 within the first period of exploration licence tenure, an unprecedented short duration from discovery to resource estimation. During a review of the drilling used to estimate the resource it was noted there was significant potential for mineralisation beneath and adjacent to the existing resource, which is expected to expand the resource.
The Company has subsequently discovered extensions to the mineralisation in the northeast and south and has determined that Koppies 1, 2, 3 and 4 are a continuous zone of mineralisation over 20 km in length.
The location of the Koppies mineralisation is shown in Figure 1.
The location of Elevate Uranium's 100% owned Koppies Uranium Project relative to the Company's other tenements and nearby known calcrete deposits, is shown in Figure 2.