Elevate Uranium has boosted the Marenica Uranium Project's Mineral Resource by 31% to 52.8 million pounds of U3O8, building on a recent doubling of grade. Ongoing infill drilling and pilot plant processing underpin advancing feasibility studies.
- Marenica resource grows 31% to 52.8 Mlb U3O8 at 180 ppm grade
- Infill drilling underway to upgrade resource classification for feasibility
- Namibian portfolio totals 116 Mlb U3O8, supporting district-scale development
- Bulk samples processed through U-pgrade™ Pilot Plant to refine economics
- Proprietary beneficiation process aims to halve CAPEX and OPEX
Significant Resource Growth at Marenica
Elevate Uranium (ASX:EL8) has announced a 31% increase in the Mineral Resource Estimate (MRE) for its flagship Marenica Uranium Project in Namibia, lifting contained uranium to 52.8 million pounds (Mlb) of U3O8 at an average grade of 180 ppm. This uplift follows targeted infill drilling of growth areas identified earlier this year, adding 12.6 Mlb to the resource and building on a February 2026 update that effectively doubled the resource grade.
The Marenica resource now stands as a substantial asset within Elevate’s Namibian portfolio, which totals 116 Mlb U3O8, part of a global resource base of 173 Mlb. The project’s location in the Erongo Region, a well-established uranium mining jurisdiction, strengthens its development credentials.
Advancing Towards Feasibility with Parallel Programs
Managing Director Murray Hill highlighted the methodical growth and improving confidence in the resource, with four drill rigs actively converting the Inferred Resource to Indicated status; an essential classification step for supporting upcoming financial and feasibility studies. Concurrently, bulk samples from across the expanded resource area are being processed through the company’s U-pgrade™ Pilot Plant in Namibia. Results from this metallurgical testwork are expected to yield critical inputs for project economics and feasibility.
Elevate’s proprietary U-pgrade™ beneficiation technology remains central to unlocking the project’s value. The process concentrates uranium by a factor of approximately 50, elevating ore grades from around 93 ppm to roughly 5,000 ppm U3O8, while rejecting about 98% of gangue material and removing acid-consuming minerals. This approach aims to reduce both capital expenditure (CAPEX) and operating expenditure (OPEX) by around 50% compared to conventional uranium processing methods.
Geological and Resource Details
The updated Marenica resource covers a strike length of approximately 9 km and varies in width from 500 to 2,000 metres, with mineralisation hosted predominantly in calcrete within palaeochannels and secondary mineralisation in weathered basement rocks. The deposit remains shallow, mostly within 1 to 36 metres below surface, facilitating surface mining methods.
The resource estimate was prepared using Multi Indicator Kriging (MIK), supported by a robust drilling database of 3,874 holes totaling nearly 90,000 metres. The resource is reported at various cut-off grades, with 100 ppm U3O8 considered the economic threshold for reporting. Elevate has applied a block support correction consistent with expected surface mining techniques, and the resource classification reflects confidence levels commensurate with drill density and geological continuity.
District-Scale Development Potential
Marenica’s integration within Elevate’s broader Central Erongo tenement package, alongside the Koppies Project, is shaping a district-scale development case. The combined resource base and shared processing infrastructure via the U-pgrade™ technology could enhance project economics and scalability.
While the Koppies and Namib IV projects remain unchanged since prior announcements, the Marenica upgrade marks a key milestone in Elevate’s development trajectory. The company continues to progress pilot plant operations with results anticipated to inform feasibility studies later this year.
Bottom Line?
Elevate Uranium’s steady resource expansion and parallel pilot plant progress at Marenica position the project for critical feasibility milestones, but investors should watch closely for metallurgical results and resource classification upgrades.
Questions in the middle?
- How will pilot plant results impact the economic assumptions for Marenica’s feasibility studies?
- What is the timeline for upgrading the Inferred Resource to Indicated status across the broader Namibian portfolio?
- Could the U-pgrade™ process be scaled efficiently to other deposits within Elevate’s Australian and Namibian assets?