Elevate Uranium reports high-grade assays from drilling at Koppies’ Hirabeb prospect
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2024-08-27
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Elevate Uranium (ASX: EL8) has reported high-grade assays from drilling at the Hirabeb prospect within the greater Koppies project in Namibia.The company completed 60 holes for a total of 1,334 metres, focused on a 4.5-kilometre strike length zone of mineralisation in the south-central area of the tenement.Standout intersections included 6m at 797 parts per million uranium oxide equivalent from 4.5m including 2m at 1,482ppm and 6.5m at 584ppm from 8.5m including 1.5m at 1,040ppm.The mineralisation is shallow, with all significant intercepts commencing within 10m of the surface.While earlier phases of drilling suggested that mineralisation at Hirabeb was constrained to an east-to-west trending palaeochannel system, the latest campaign has shown it extends into the basement lithologies.Approximately 38% of the intervals in excess of 1,000ppm uranium oxide equivalent sit within the basement rock, reinforcing the theory that mineralisation could extend to depths greater than 10m.Following a review of results from a drilling campaign earlier this year, Elevate has also confirmed the identification of four new and under-explored targets within Koppies.Managing director Murray Hill said the Hirabeb prospect continues to expand in size with each new campaign.“These latest results are impressive, displaying good thickness of mineralisation with some excellent grades in excess of 1,000ppm uranium oxide equivalent,” he said.“Our ongoing geological review of results to date has identified four new target areas warranting follow-up, which is very encouraging and demonstrates that Hirabeb could potentially become a satellite to the existing Koppies resource.”Drilling at Hirabeb will continue until the year-end as the company works towards defining and estimating a maiden resource for the prospect.The Hirabeb prospect covers 545 square kilometres and is the second of Elevate’s four discoveries made over recent years.Hirabeb’s boundary is less than 12km from the tenement boundary of the Koppies resource and could potentially become a satellite project feeding into a future operation centred on Koppies.In July, Elevate reported an increasingly active drilling program in Namibia focused on expanding and increasing the level of certainty around the high-priority Koppies, Hirabeb and Capri projects.
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