Elevate Uranium announces significant resource upgrade at Koppies Uranium Project

Elevate Uranium Limited (ASX:EL8) has announced a substantial upgrade of the Koppies Uranium Project's JORC Mineral Resource Estimate, with 78% of the resource now classified in the Indicated category. The Koppies Uranium Project's Mineral Resource base has been increased to 66.1 Mlb U3O8, with a maiden Inferred Mineral Resource for the Hirabeb Deposit of 10.2 Mlb U3O8. The Company is also progressing with metallurgical bench-scale testwork on Koppies bulk samples using the U-pgrade™ process, which will inform further technical studies and the potential construction of a demonstration plant.

Executive Commentary on Koppies Uranium Project Upgrade

Elevate Uranium's Managing Director, Murray Hill, highlighted the significance of the Koppies Uranium Project's resource upgrade, stating, 'This is an important step in derisking the project, along with undertaking an U-pgrade™ metallurgical testwork program on mineralised samples from the resource. Results from the testwork program, which is in progress, will inform further technical studies and subsequent construction and operation of an U-pgrade™ demonstration plant at Koppies to confirm the potential value of the process at scale.' Hill also emphasized the success at Hirabeb, adding another 10.2 Mlb U3O8 to the Koppies Project and highlighting the project area's potential for further expansion of the resource base.

Summary of Koppies Uranium Project Resource Upgrade

The upgrade of the Koppies Uranium Project's Mineral Resource to 66.1 Mlb U3O8, with 78% now in the Indicated category, marks a significant milestone for Elevate Uranium. The Company's focus on the U-pgrade™ metallurgical testwork program and the potential construction of a demonstration plant demonstrates its commitment to advancing the project. With the total Namibian Mineral Resource increased to 112.1 Mlb U3O8 and the global Mineral Resource to 160.5 Mlb U3O8, Elevate Uranium is well-positioned for further exploration and potential expansion of its resource base. The Company's Managing Director's comments indicate a positive outlook for the project's development and the potential value of the U-pgrade™ process at scale.