At the Marenica Uranium Project (MDRL 3287) the Company has identified a 52.8 Mlb JORC uranium resource. Elevate own 90% of Marenica.
The resource is a surficial calcrete hosted uranium deposit in the same palaeochannel system that hosts Orano Minings Trekkopje Uranium Project, and is located 60 kilometres north of the world class Rossing Uranium Mine which has continuously operated since 1976.
General view at Marenica Uranium Project
The total Marenica Project resource is 52.8 Mlb at 180 ppm U3O8 using a 100 ppm cut-off grade.
Carnotite in Calcrete Ore
U-pgrade™'s Impact on project economics
A 2017 Scoping Study (“Study”) on the Marenica Uranium Project found that the project’s value greatly increased when using the U-pgrade™ process. Operating costs were reduced by approximately 50% compared to conventional processing.
The capital cost to produce yellow cake on site was estimated to be about 50% of conventional processing, but the use of a third party, pre-existing leach/refinery facility would further reduce capital development costs to less than 30% of conventional processing.
The project is situated close to existing uranium refineries that could process the U-pgrade™ concentrate.
Excellent mining-focused infrastructure
The project is located within a global mining jurisdiction, which means that it benefits from the local infrastructure which is geared up for the uranium mining industry, including port, road, rail, water and power. The supportive government and highly experienced local workforce also adds to the positive mining environment.
