Elevate Uranium Drills 266 Holes Expanding Namib IV Mineralisation to 11x7.5 km
Elevate Uranium Ltd has made significant strides in its uranium exploration and development efforts, with its U-pgrade pilot plant nearing shipment and promising drilling results expanding mineralisation at key Namibian projects.
- U-pgrade pilot plant final factory testing underway, shipping to Namibia in August
- Namib IV drilling expands mineralised area to over 11 km by 7.5 km
- New granite-hosted uranium mineralisation discovered at Marenica Project
- Northern Territory grant awarded to co-fund Angela Uranium Project drilling
- Quarterly exploration expenditure totals $1.63 million
U-pgrade Pilot Plant Nears Deployment
Elevate Uranium Ltd (ASX – EL8) is advancing its proprietary U-pgrade™ beneficiation technology with the pilot plant scheduled for final factory testing in Perth this July. The plant is set to be shipped from Australia to Namibia in early August, arriving by early October for on-site assembly. This pilot facility aims to validate the process at scale, concentrating uranium ore by removing waste material before leaching, thereby de-risking commercialisation prospects.
Expanding Uranium Resources in Namibia
Exploration drilling at the Namib IV prospect within the Koppies Uranium Project continues to deliver encouraging results. The greenfields expansion program has delineated a mineralised envelope approximately 11 kilometres by 7.5 kilometres, with 266 holes drilled for 7,478 metres during the quarter. Notably, mineralisation is often shallow, commencing within 10 metres of surface, which bodes well for future resource definition and mining economics.
Meanwhile, at the Marenica Uranium Project, drilling intersected a new style of granite-hosted uranium mineralisation, including a 13-metre thick near-surface interval grading 203 ppm eU3O8. This discovery opens avenues for additional target generation beyond the known calcrete-hosted deposits, potentially broadening the project’s resource base.
Support for Australian Exploration
Elevate Uranium also secured a $112,000 grant from the Northern Territory Government to co-fund a three-hole drilling program at its Angela Uranium Project, located south of Alice Springs. The program, planned for September and October 2025, will test seismic reflectors identified in prior surveys, aiming to extend the known high-grade uranium resource of 30.8 million pounds at 1,310 ppm U3O8.
Financial and Operational Outlook
The company reported exploration expenditure of approximately $1.63 million for the quarter, reflecting active drilling and development activities. Cash reserves remain robust at $21.7 million, providing a runway of over nine quarters at current expenditure levels. Payments to related parties, including directors’ fees and salaries, amounted to $143,000 during the period.
Elevate Uranium’s portfolio spans significant tenements in Namibia’s Erongo uranium province and multiple Australian projects, positioning it well to capitalise on uranium’s strategic importance. The ongoing development of the U-pgrade process promises to materially reduce processing costs and improve ore grades, potentially transforming project economics.
Bottom Line?
As Elevate Uranium moves its U-pgrade pilot plant into the field and expands resource footprints, the coming months will be critical in validating its technology and unlocking new uranium opportunities.
Questions in the middle?
- Will the U-pgrade pilot plant confirm expected cost and grade improvements at scale?
- How will pending Namibian licence renewals impact project timelines and operations?
- What are the next steps for defining a maiden resource at Namib IV following recent drilling?
