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 has identified a palaeochannel system with an area of 6.4 square kilometres with drilling confirming shallow near surface mineralisation, less than 20m in depth, intersecting exceptional uranium mineralisation, 
including:
  • KP001     6m at 342ppm U3O8 from 8m
  • KP004     6m at 432ppm U3O8 from 7m
  • KP005     5m at 351ppm U3O8 from 6m
  • KP045     10m at 687ppm U3O8 from 2m
  • KP055     13m at 905ppm U3O8 from 3m
    • Including 2m at 4,504ppm U3O8
  • KOR21     11m at 502ppm U3O8 from 6m
  • KOR62     3m at 3,087ppm U3O8 from 1m
    • Including 1m at 7,060ppm U3O8

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

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

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

Figure 2 – Location of Drill Holes and Palaeochannels at Koppies

Figure 2 – Location of Drill Holes and Palaeochannels 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.

Koppies is drill ready for resource estimation following a rise in the U3O8 price. The Company has established that three months of drilling, with a single rig, will provide sufficient drill data for a JORC resource to be estimated at Koppies.