Elevate Uranium completes inferred resource drilling at Koppies

Elevate Uranium Limited (ASX: $EL8) has announced the completion of the inferred resource drilling programs at Koppies. The company is expecting to release an updated Inferred Mineral Resource Estimate for Koppies by early April, with the current MRE standing at 48.0 Mlb eU3O8 as reported on 8 November 2023. Elevate Uranium has commenced an infill drilling program at Koppies to increase the JORC category from Inferred to Indicated, and plans to collect samples for metallurgical testwork in April/May.

Elevate Uranium's Managing Director, Murray Hill, on Koppies project

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 utilizing the Company's proprietary U-pgradeTh beneficiation process.

Outlook for Elevate Uranium's Koppies project

Elevate Uranium's completion of inferred resource drilling at Koppies marks a significant step in the company's efforts to advance the project. With the expectation of releasing an updated Inferred Mineral Resource Estimate by early April and commencing an infill drilling program to increase the JORC category, Elevate Uranium is positioning itself for project advancement. The planned collection of metallurgical samples in April/May for advanced testwork using the Company's proprietary U-pgradeTh beneficiation process indicates a strategic focus on project development. The Company's Managing Director, Murray Hill, emphasized the transition from resource growth to project advancement, highlighting the significance of the Koppies resource and the ongoing efforts to take it to the next level of development. Elevate Uranium's commitment to understanding the metallurgical characteristics of the Koppies ore and the subsequent scoping study demonstrates a clear corporate strategy aimed at project advancement and economic evaluation.