PERTH, Australia – Elevate Uranium Limited (ASX:EL8) (OTCQX:ELVUF), an ASX listed uranium exploration company, is excited to announce significant advancements in its Koppies project, including the completion of its inferred resource drilling programs. These developments mark a pivotal step towards updating the current 48 Mlb eU3O8 Inferred JORC Mineral Resource Estimate (MRE) for Koppies, with a new MRE expected to be released by early April.
The company has initiated an infill drilling program aimed at upgrading the JORC category of the Koppies project from Inferred to Indicated. This strategic move underscores Elevate Uranium's commitment to transitioning from resource growth to project advancement.
Murray Hill, Managing Director of Elevate Uranium, expressed his enthusiasm about the project's progress, stating, "The Company is transitioning its focus at Koppies from resource growth to project advancement by increasing the JORC resource category from Inferred to Indicated, which will then feed into a scoping study and provide metrics on the project. Data from the latest phase of the resource growth drilling is being processed and the updated resource estimation is in progress. The updated JORC Inferred resource is expected to be released by early April. The Company considers the Koppies resource to be of sufficient size to take to the next level of development and as such three drill rigs are currently working on the infill JORC Indicated drilling program. Metallurgical samples are planned to be collected in April/May for an advanced metallurgical testwork program utilising the Company’s proprietary U-pgradeTM beneficiation process."
In preparation for a comprehensive scoping study scheduled to commence in late 2024, Elevate Uranium is prioritizing the increase of the Koppies mineral resource to a majority JORC Indicated resource category. This effort is crucial for the publication of an economic study on the project.
The upcoming metallurgical testwork, set to begin after the collection of samples in April/May, will employ the Company's proprietary U-pgradeTM beneficiation process. This testwork is essential for understanding the metallurgical characteristics of the Koppies ore and will contribute valuable data for the initial design of the mining and process flowsheet.
Elevate Uranium is dedicated to advancing the Koppies project through these strategic developments, aiming to unlock the project's full potential and deliver value to its stakeholders.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
