Elevate Uranium says its Koppies project in Namibia has increased its indicated resource to 78%, surpassing initial targets and paving the way for advanced technical studies and further project development.
The achievement underscores the potential of the large tenement area, which currently holds 10.2 million pounds of resources, with ongoing drilling expected to enhance the figure even more.
“This announcement marks a significant milestone for the Kopies project in Namibia, as it includes updates on both the Koppies and Hirabeb deposits. We are excited to report that the indicated resource for Koppies has increased to 78%, exceeding our target and enabling us to advance into technical studies and further project development. The Koppies project covers a large tenement area, currently holding 10.2 million pounds of resources, and we anticipate continued growth in this figure over time,” said Elevate’s Managing Director and CEO Murray Hill.
He further explained that the company has also introduced an innovative in-house upgrade process known as PED, designed to maximise asset value.
A pilot demonstration at a larger scale is planned to boost investor confidence in this process, aiming to showcase its effectiveness in extracting value from the project’s resources.
As the Koppies project progresses, Hill says that it is crucial to achieve the indicated resource status. This advancement not only increases confidence in the resource’s viability but also allows the company to conduct the necessary studies required for the ASX listing.
The proximity of the Koppies and Hirabeb projects only 12km apart enables operational efficiency and strategic development.
“The proximity of the Koppies and Hirabeb deposits is a key advantage, as both are easily accessible by existing roads. This closeness enhances the efficiency of our operations. The upcoming demonstration plan is expected to add significant value, and we understand that investors are eager to see proof of its potential,” he said.
In addition to the progress at Koppies, the company is actively pursuing exploration efforts across its extensive land position in Namibia.
With ongoing drilling initiatives and the maiden resource at Hirabeb, stakeholders can anticipate further growth and valuable insights from upcoming bench tests and demonstration plans.
