Announcement Date: 2022-10-18
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Elevate Uranium Ltd.
Project name: Capri
Location: Namibia
Commodities: Uranium
Highlight: Drilling results incl. 4.5m at 942ppm U3O8 from 7.5m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Elevate Uranium Limited (“Elevate Uranium”, or the “Company”) (ASX:EL8) (OTCQX:ELVUF) is pleased to announce the discovery of a 16 kilometre zone of continuous uranium mineralisation at EPL 7508 (known as Capri). Previous exploration using airborne electro-magnetic surveys identified extensive palaeochannels associated with radiometric anomalies in both the western and eastern areas of the tenement. Subsequently, this maiden drill program was completed over the palaeochannels in the western half of the tenement, resulting in this new uranium discovery. The eastern half of the tenement is yet to be drilled. Figure 1 on the next page highlights the mineralisation identified during this drill program relative to the location of the palaeochannels. Elevate Uranium’s Managing Director, Murray Hill, commented: “This is another impressive uranium discovery – significant uranium mineralisation found over 16 kilometres of continuous strike from our maiden drill program at Capri, following on from successive discoveries at Koppies, Hirabeb and Namib IV. This is our fourth uranium discovery in Namibia over the past three years and is testament not only to our high-quality land position but also our exploration methods, which are bearing fruit.
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