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Elevate Uranium Ltd ( (AU:EL8) ) has provided an announcement.
Elevate Uranium Ltd announced the identification of a large mineralized envelope at its Namib IV tenement, part of the Koppies Uranium Project. The discovery, which spans 11 km by 7.5 km, is predominantly hosted in basement lithologies, indicating potential for expansion beyond traditional palaeochannel deposits. This development supports the company’s strategy to diversify exploration targets and could significantly enhance the resource base of the Koppies Project, potentially extending the life of mine or increasing production rates. Follow-up activities will include infill drilling to define higher-grade mineralization, aiming for a maiden mineral resource estimate by the end of 2025.
More about Elevate Uranium Ltd
Elevate Uranium Ltd is a company operating in the uranium mining industry, focusing on exploration and development of uranium resources. Its primary market focus is on expanding its uranium resource base, particularly through projects like the Koppies Uranium Project in Namibia.
Average Trading Volume: 918,833
Technical Sentiment Signal: Sell
Current Market Cap: A$106M
For a thorough assessment of EL8 stock, go to TipRanks’ Stock Analysis page.