Elevate Uranium (ASX:EL8) reports that it has discovered a ‘significant’ 16km zone of continuous uranium mineralisation following a maiden reverse circulation (RC) drilling program at its wholly owned EPL 7508 (Capri) tenement in Namibia.
The RC drilling program, comprising 284 drillholes, was conducted to test extensive palaeochannels and radiometric anomalies in the western areas of the tenement that were previously identified from airborne surveys, as reported by the company in March.
Results have demonstrated that mineralisation is less than 25m below surface, with key intercepts including, 3.5m at 438ppm eU3O8 from surface (CAP0103), 4.5m at 942ppm eU3O8 from 7.5m (CAP0154) and 7.0m at 228ppm eU3O8 from 1.5m (T0014).
The eastern half of the tenement is yet to be drilled.
Addressing the results, Elevate Uranium Managing Director, Murray Hill said: “This is another impressive uranium discovery – significant uranium mineralisation found over 16 kilometres of continuous strike from our maiden drill program at Capri, following on from successive discoveries at Koppies, Hirabeb and Namib IV. This is our fourth uranium discovery in Namibia over the past three years and is testament not only to our high-quality land position but also our exploration methods, which are bearing fruit.
“this is our fourth uranium discovery in Namibia over the past three years and is testament not only to our high-quality land position but also our exploration methods, which are bearing fruit”
2022 has delivered great new opportunity for Elevate Uranium, including finding this 16 kilometre strike of uranium mineralisation at Capri, quantifying an initial 20 Mlb uranium Mineral Resource at Koppies and now working towards expanding the Koppies resource with two drill rigs currently operating on the tenement. We look forward to what further exciting outcomes can be achieved in 2022.
The company will now take time to assess the results of the Capri drill program and prioritise those results against our other Namibian discoveries and subsequently plan future exploration programs.”
Elevate Uranium also notes that drilling uncovered 36 historic drillholes that are believed to have been drilled in the late 1970s, with all but one remaining open.
These open historic holes are reported to have been gamma probed during the current drilling program to determine the presence of mineralisation and a potential eU3O8 grade.
In addition, drill logging to date indicates that uranium mineralisation at Capri is secondary uranium mineralisation contained within calcrete hosted palaeochannels, which shares similarities to the mineralisation hosted in its neighbouring Marenica Uranium Project.
It is expected that the company’s ‘U-pgrade’ beneficiation process, used on calcrete hosted uranium mineralisation from the Marenica project, will be utilised to work on ore from this new discovery at Capri.
Elevate Uranium is an ASX-listed uranium exploration company that is making new discoveries through active exploration programs across its ‘significant’ resources in Namibia and Australia. The company’s Capri tenement is located in Namibia’s world class Erongo uranium province, about 35km northwest of its 321km-square Marenica project, in which the company owns a 75% interest in all associated tenements.
With drilling at Capri still ongoing, Elevate Uranium announces that future exploration and subsequent drilling activities will focus on the eastern region of the tenement to test for broader and deeper channels.
Images: Elevate Uranium Ltd & iStock
