Elevate Uranium has announced a significant upgrade to its Marenica Uranium Project in Namibia, doubling the resource grade and increasing contained uranium. This milestone enhances the project's development prospects and underpins the company's growth strategy.
- Marenica resource grade doubled to 185 ppm U3O8 at 100 ppm cut-off
- Total resource increased to 59.0 million pounds at 50 ppm cut-off with 32% grade uplift
- Over 5,000 historical drill holes re-analysed and updated to JORC 2012 standards
- Infill drilling planned to re-include excluded areas and upgrade inferred resources
- Pilot plant metallurgical testwork scheduled to refine processing with U-pgrade technology
Resource Upgrade Transforms Marenica Project
Elevate Uranium Ltd (ASX – EL8) has delivered a landmark update to its Marenica Uranium Project in Namibia, revealing a doubling of the mineral resource grade to 185 parts per million (ppm) uranium oxide (U3O8) at a 100 ppm cut-off grade. The updated resource now stands at 40.2 million pounds of U3O8, a substantial enhancement compared to previous estimates.
At a lower 50 ppm cut-off, the total mineral resource has increased to 59.0 million pounds, reflecting a 32% uplift in grade. This improvement follows a comprehensive re-analysis of more than 5,000 historical drill holes conducted throughout 2025, with the resource now reported under the more rigorous JORC 2012 reporting standards.
Conservative Approach and Planned Infill Drilling
The updated estimate adopts a conservative stance by excluding some mineralised zones that did not meet the company's current drill density criteria, primarily due to wide-spaced drilling lines of 300 metres. These excluded areas, located mainly to the south and southeast of the resource, represent clear opportunities for expansion.
Elevate Uranium plans to commence infill drilling in these areas imminently, aiming to bring them back into the resource base. Concurrently, targeted drilling will seek to upgrade portions of the resource from the Inferred to the Indicated category, enhancing confidence and supporting future development decisions.
Leveraging Proprietary U-pgrade™ Processing
Elevate Uranium’s proprietary U-pgrade™ beneficiation process, developed specifically for surficial uranium deposits like Marenica, stands to benefit significantly from the higher-grade resource. The process concentrates uranium by approximately 50 times, boosting ore grades from around 93 ppm to about 5,000 ppm U3O8, while rejecting nearly 98% of waste material and reducing processing costs by up to 50% compared to conventional methods.
To validate and optimise processing parameters, the company will undertake pilot plant metallurgical test runs on bulk ore samples during the first quarter of 2026. These tests will cover a range of lithologies and uranium grades, providing critical data to refine the economic model and support project advancement.
Strategic Implications and Next Steps
Managing Director Murray Hill described the resource update as a “transformative milestone” that materially enhances Marenica’s development potential and reduces project risk. The robust, re-validated database and increased grade underpin Elevate Uranium’s ambition to become a leading uranium developer.
Looking ahead, the company will focus on infill drilling to expand and upgrade the resource footprint, pilot plant testwork to refine processing, and ongoing resource classification improvements. The project’s location within the established Erongo uranium province further supports its strategic value.
While the update does not provide direct price guidance or detailed environmental assessments, the company’s conservative resource approach and planned infill drilling signal a disciplined path to unlocking value.
Bottom Line?
Elevate Uranium’s Marenica upgrade sets the stage for accelerated development, but upcoming drilling and pilot tests will be critical to confirm the project’s full potential.
Questions in the middle?
- How will the results of the upcoming infill drilling affect the overall resource size and classification?
- What economic impact will the pilot plant metallurgical testwork have on project feasibility and costs?
- How might evolving uranium market conditions influence Elevate Uranium’s development timeline and financing?