Namib IV Expansion Could Extend Koppies Mine Life Amid Exploration Uncertainties

Expanding the Koppies Uranium Footprint

Elevate Uranium Limited (ASX – EL8) has announced a significant breakthrough at its Namib IV tenement, part of the broader Koppies Uranium Project in Namibia. The company has delineated a large, anomalous uranium mineralised envelope measuring approximately 11 kilometres by 7.5 kilometres following a systematic broad-spaced drilling campaign. This discovery extends the known mineralisation footprint beyond the established Koppies Resource Area, reinforcing the project's growth trajectory.

Geological Insights and Mineralisation Style

Unlike traditional uranium deposits in the region that are typically hosted within palaeochannels, the Namib IV mineralisation is predominantly hosted in basement lithologies such as weathered granite and carbonate-veined schist. This basement-hosted style represents a diversification in Elevate Uranium’s exploration approach, opening new avenues for discovery beyond the palaeochannel model. Notably, mineralisation often begins within 6.5 meters of surface, suggesting relatively shallow deposits that could be advantageous for future mining operations.

Drilling Program and Next Steps

To date, Elevate Uranium has completed 178 drill holes totaling nearly 5,000 meters, employing reverse circulation percussion drilling with downhole gamma probing to estimate uranium grades. The broad-spaced drilling has successfully outlined the mineralised envelope, but the company plans to conduct infill drilling to better define higher-grade zones. This will support the preparation of a maiden mineral resource estimate targeted for later in 2025, which could materially enhance the existing 66 million pounds of uranium oxide (U3O8) resource at Koppies.

Strategic Tenement Management

Alongside the Namib IV progress, Elevate Uranium has relinquished three tenements (EPL 6663, EPL 7436, and EPL 8728) after exploratory drilling failed to intersect significant mineralisation. Conversely, the company has applied for a new exploration licence (EPL 10780) situated between the Koppies and Namib IV tenements, indicating a strategic focus on contiguous resource growth within this uranium-rich corridor.

Broader Project Context and Outlook

The Namib IV discovery complements Elevate Uranium’s broader portfolio, which includes the Marenica Uranium Project and Australian joint ventures. The company confirms no material changes to existing JORC resource estimates across its assets, maintaining a solid foundation as it advances exploration. The expansion at Namib IV not only promises to extend the potential mine life at Koppies but also offers the possibility of increasing production rates in future mining scenarios.