Elevate upgrades Koppies uranium resource
ASX-listed Elevate uranium has upgrade the mineral resource estimate at its Koppies deposit, in Namibia, from inferred to indicated status, with 78% of the resource now in the indicated category.
In conjunction with the Koppies resource upgade, the company also announced a 10.2-million-pound uranium oxide maiden resource estimate at the Hirabeb deposit, which is located south of the Koppies resource.
The maiden resource increases the Koppies project resource to 66.1-million pounds of uranium oxide, and brings the total Namibian resource base to 112.1-million pounds and the company’s total resource base to 160.5-million pounds.
“The success at Hirabeb highlights the project area’s potential as we continue to explore the ground and target further expansion of the resource base,” said MD Murray Hill.
He added that the geological knowledge gained at Koppies and, in particular, the understanding that uranium mineralisation extended into weathered basement adjacent to the paleochannels, meant that Elevate believed it could encounter previously unidentified mineralisation in areas where historical exploration had occurred.
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