Elevate Uranium's wholly owned tenement EPL 7508 (called Capri) is located in the world class Erongo uranium province in Namibia, 20 kilometres northwest of Elevate Uranium's Marenica Uranium Project.

An airborne survey conducted over Capri identified north-western and south-eastern palaeochannels in a geological location prospective for “calcrete-type” uranium, similar to that at the Marenica Uranium Project on which the Company developed its U-pgradeTM beneficiation process.  The north-western palaeochannel extends for at least 48 kilometres within Capri.  Of particular significance is the presence of a 10 x 5 kilometre area of anomalous radiometric uranium response coincident with or immediately adjacent to an inferred palaeochannel.

The south-eastern palaeochannel is much broader (up to 7 to 10 kilometres) and coincident with the current ephemeral drainage.  Approximately 25 kilometres of this palaeochannel occurs within Capri.

 

Figure 1 –Inferred palaeochannels with respect to airborne radiometric (U channel) anomalies in Capri

 

Figure 2: Location of Capri in the Central Erongo Area with respect to Elevate Uranium’s other Namibian tenements