Elevate Uranium increases mineralisation at Koppies project to over 19km
Elevate managing director Murray Hill says the Koppies uranium project is growing “bigger and better” with each drilling program.
Elevate Uranium (ASX: EL8) has confirmed the discovery of a new uranium zone at the Koppies project in Namibia, which has extended the total mineralisation to over 19 kilometres.
The new zone is known as Koppies 4 and stretches 6.6km to the south of the Koppies 2 prospect.
It is believed to be a continuation of mineralisation at the Koppies 3 target identified in September, which is 10km zone of mineralisation to the northeast of Koppies 2.
Koppies 3 delivered a 2.4km extension to the resource width.
The new discoveries extend the total mineralisation at Koppies to 19.2km.
They follow Elevate’s announcement in May of a maiden inferred resource estimate at Koppies 1 and 2 totalling 20.3 million pounds uranium oxide equivalent.
Bigger and better
Managing director Murray Hill said the Koppies project was growing “bigger and better” with each drilling program.
“We have been saying since May that we believed there was significant potential for growth at Koppies and here is the proof,” he said.
“Koppies 3 and 4 have the potential to substantially expand the Koppies uranium resource … we have two rigs operating in the greater Koppies area to further locate and define the uranium mineralisation.”
He said the Koppies mineralisation is extensive, shallow and in a tier one jurisdiction where uranium mining has been undertaken for the past 46 years.
Continued drilling
Drilling at Koppies 4 continues with north-south drill lines spaced 400m apart and current drill holes 200m apart.
A total of 72 holes have been completed to date for 1,888m.
Drilling at Koppies 3 has targeted closer line spacing than the original five discovery drill lines to confirm the continuity of mineralisation and explore for extensions to the west and east.
Subsequent to an initial 37 holes previously reported, Elevate has drilled another 188 for a total 3,899m.
Across Koppies 3 and 4, the company has completed 260 holes for a total 5,787m.
Mr Hill said the discovery of large mineralised areas at Koppies 3 and 4 indicates significant potential for expansion of the Koppies mineral resource.