Elevate Uranium

Specializing in highly prospective uranium projects

This Elevate Uranium profile is part of a paid investor education campaign.*


Elevate Uranium: Carbon Free Energy


As decarbonization and electrification continue to develop around the world, carbon-free nuclear power is required to achieve both changes. Why is this the case? It's simple—nuclear power produces zero carbon emissions, prevents air pollution, spans a smaller land footprint and produces minimal waste. Nuclear power is central to the clean energy movement. As a result, the uranium market presents an exciting opportunity for investors seeking to capitalize on the clean energy movement.

Elevate Uranium Limited (ASX:EL8; OTCQX: ELVUF; NSX:EL8) is an Australian mineral exploration and development company specializing in identifying, exploring and acquiring highly prospective uranium projects in Australia and Namibia. The company is the largest tenement holder for uranium in Namibia, which is the fourth-highest uranium-producing country in the world as of 2019. The company is backed by a management team with over 60 years of experience in the uranium sector and a proven track record in the exploration and development of various mining projects.

Elevate Uranium has uranium projects in Namibia and Australia. In Namibia, the company has three areas of interest, the Namib Area, Marenica Area and Mile 72 Area. The Namibia Area contains the recent discoveries of Koppies and Hirabeb, while the Marenica Area contains the 61 million pound Marenica Uranium Project JORC resource. The company’s wholly owned tenement EPL 7508, also known as Capri, is located 20 kilometres northwest of the Marenica Uranium Project.

Meanwhile, in Australia, the company has the Angela, Thatcher Soak, Minerva, Beatrice South, Mount Gilruth and Oobagooma projects, as well as the Bigrlyi, Walbiri and Malawiri joint venture projects.

The company further announced a new uranium discovery from its maiden scout reverse circulation (RC) drilling program on Namibia IV project. The company's exploration strategy targeted surficial uranium located in near surface palaeochannels in which uranium is likely to have been deposited. The program identified a major palaeochannel extending from the centre of the tenement to its southwest corner, a distance of over 19 kilometres. Uranium mineralisation has been intersected over a distance of 17 kilometres.

According to Murray Hill, Managing Director, these are exciting results for the company considering it as its third tenement which has been drilled in the Namibia Area and the third to contain extensive uranium mineralisation with a fantastic success rate. He added that the distribution of mineralisation identified in this initial, wide spaced, exploration program only begins to indicate the potential of this tenement.

"These results, together with the Airborne EM, provide our exploration team with a strong foundation for implementing an aggressive exploration program on the Company's expansive and highly prospective tenements within this uranium province of Namibia."

There are two things that excite us. First is the uranium market and where nuclear energy is headed. The second thing is what we can control, and that is what we're doing. We're aggressively exploring. We've got multiple projects, we're geographically diverse, and we stand out from our peers because we have U-pgradeTM," said Elevate Uranium CEO Murray Hill.

The company's fully-owned and patented breakthrough U-pgradeTM is a beneficiation process developed in collaboration with CSIRO that could provide Elevate Uranium with a significant competitive advantage. U-pgradeTM enables the removal of non-uranium bearing minerals by rejecting more than 95 percent of the mass of mined ore. U-pgradeTM allows Elevate Uranium to capitalize on exploration opportunities by potentially reducing overall capital and operating expenditures by 50 percent. Additionally, U-pgradeTM provides potential environmental benefits. The company expects that U-pgradeTM will apply to all of its assets.

Elevate Uranium's notable Marenica project in Namibia has a resource estimate of 81 million pounds at 93 ppm of uranium. U-pgradeTM has demonstrated to increase the Marenica project ore grade from 93 ppm to approximately 5,000 ppm of uranium, thus reducing overall costs and increasing value. Elevate Uranium's projects in Australia have estimated JORC resources of 48 million pounds of uranium, with grades as high as 1,310 ppm in the Angela project.

In July 2021, the company received results from an airborne electromagnetic survey completed on its Namibia Area tenements, which has identified an extensive network of palaeochannels. The Company will design and undertake drilling programs to physically confirm the existence of the palaeochannels and determine the grade of uranium mineralisation. Due to the large and extensive area of these palaeochannel systems, the drilling programs are expected to continue into 2022.

Elevate Uranium is a proud sponsor of Vultures Namibia, which is a conservation initiative for preserving the endangered lappet-faced vultures. The company provides satellite GPS tracking on fledgling vultures for the protection program and is committed to fostering change.

The company also possesses a strong financial structure. Elevate Uranium has 228 million shares issued and 31 million options issued, with a market capitalization of $75 million. Elevate Uranium has $16.5 million in cash on hand and does not have any debt.

Company Highlights

  • Elevate Uranium Limited is the largest tenement holder for uranium in Namibia, the fourth-highest uranium-producing country in the world.
  • Elevate Uranium is actively exploring in Namibia, with recent discoveries including Koppies, Capri and Hirabeb.
  • Elevate Uranium has JORC resources of 81 million pounds of uranium in Namibia and 48 million pounds of uranium in Australia.
  • Elevate Uranium's fully-owned and patented breakthrough U-pgradeTM beneficiation process has the potential to provide Elevate Uranium with a significant competitive advantage and cost reduction.
  • The company is backed by a management team with over 60 years of experience in the uranium sector with a proven track record in the exploration and development of various mining projects.
  • Elevate received binding commitments to raise $11.5 million (before costs) through placement at $0.45 per share which will position the company with a cash balance of CAD$17.6M.

Key Projects


Elevate's Namibian projects are located in the Erongo region. Namibia is a country with a long history of uranium mining, has a supportive government and a highly experienced local workforce. The area has access to infrastructure, including a seaport, international airport, road, rail, water and power.

The mineralization targeted by the Company is calcrete-hosted uranium, found in old river systems or palaeochannels which are generally less than 20 meters deep. The palaeochannels have no obvious surface expression and electromagnetic surveys are required to locate the palaeochannels. The Company has recently completed an airborne electromagnetic survey over the Namib Area of tenements, which has identified extensive palaeochannel systems across the tenements. The airborne electromagnetics will be used to plan drill programs.

Koppies Project

In 2019, drilling on the property confirmed shallow near-surface mineralization at less than 20 meters in depth with uranium grades as high as 7,060 ppm only 1 meter below the surface. Drilling results also indicated expected grade ranges of 300 to 350 ppm of uranium. The paleochannel area on the property is 6.5 square kilometres along with other discoveries

The company announced the results of the resource definition drilling program with 558 holes for 4,701 metres which confirmed continuity of shallow, calcrete hosted uranium mineralisation and uranium mineralisation that remains open to east and south. The program is further focused on drilling the Koppies I and II deposits at 100 m x 100 m to provide input for maiden Mineral Resource Estimates anticipated to be completed in the March Quarter of 2022.

Managing Director, Murray Hill, commented: “The resource definition drilling program has confirmed continuity of shallow, calcrete hosted uranium mineralisation within broad palaeochannels. The drilling has produced excellent results and we look forward to reporting a maiden resource estimate, expected to be completed in the March Quarter 2022.

We continue to be excited about further extensions to the Koppies palaeochannels and potential for additional mineralisation.”

In 2022, the company increased its mineral resource by 22 percent after an initial JORC Inferred Mineral Resource Estimate of 20.3 million pounds eU3O8 for its Koppies Uranium Project.

Hirabeb Project

Exploration of the property has identified an extensive palaeochannel system extending more than 44 kilometers, which is longer than the width of the English Channel. Uranium mineralization has also been intersected over a distance of 30 kilometers within the paleochannel.

In 2022, Elevate Uranium provided an update on exploration activities at its Hirabeb Project which indicated that drilling at Hirabeb I showed uranium mineralisation extending over 4 km in length. The same update announced an anomalous mineralised zone extending over 9 km in length at Hirabeb II resulting in mineralisation that remains open along strike to the northeast and southwest.

Namib IV Project

The project adjoins and is located northeast of the Hirabeb project and is southwest of the Koppies project.

The company conducted an HLEM program that identified an extensive palaeochannel system that is at least 19 km long and about 6 km wide. The palaeochannel system found at Namib IV is separate from the systems found at the Koppies and Hirabeb projects.

The company is currently in the process of drilling on the Namib IV project.

Marenica Project

The Marenica project has a JORC resource of 61 million pounds at 93 ppm uranium. The mineralization on the 321 square kilometre property is calcrete-hosted uranium which was used to develop Elevate's U-pgradeTM process. A scoping study conducted on the project found that the value of the project increased substantially when using the U-pgradeTM process.

The property is located on the same palaeochannel system as Orano's Trekkopje Uranium Project. Marenica is also located 60 kilometers north of the Rossing Uranium mine which is a world-class mine that has operated continuously since 1976.

Elevate Uranium owns 75 percent of the Marenica project.

Mile 72 Project

The property covers 20 square kilometers and is located approximately 100 kilometers from the Marenica project and 30 kilometers from the coastal town of Henties Bay. Mineralization on the property is calcrete-hosted.

The company believes that the property has the potential to host a surficial uranium resource.


The Capri project (EPL7508) is Elevate Uranium’s wholly owned tenement in Enrongo uranium province in Namibia. The company completed an airborne electro-magnetic survey in the area which identified 73 kilometres of palaeochannel, with coincident uraniumchannel radiometric anomalies. The significant uranium radiometric responses coincided with sections of the palaeochannels, previously seen in Marenica Uranium Project where shallow uranium mineralisation is present. A drilling program will be undertaken this year for further exploration of palaeochannels.


Angela Project

The Angela project is located in the Amadeus Basin in the Northern Territory of Australia. The property is located approximately 25 kilometers south of the town of Alice Springs. The mineralization is a sandstone-hosted roll-front style uranium deposit.

The inferred mineral resource at the property is 30.8 million pounds at 1,310 ppm of uranium. Mineralization includes a higher-grade core of 20.2 million pounds at a grade of 2,500 ppm of uranium at a cut-off grade of 1,500 ppm.

Elevate Uranium fully owns the Angela project. The Company has applied U-pgradeTM to the ore with a resultant reduction in acid consumption by 80% providing a potential financial benefit for the Angela project.

Thatcher Soak Project

The Thatcher project is located in the Yilgarn Province of Western Australia. The project has road access and is located approximately 160 kilometers northeast of the town of Laverton. The project is a calcrete-hosted uranium deposit similar to the nearby Yeelirrie, Lake Way, Centipede and Lake Maitland deposits.

The inferred mineral resource on the property is 10.9 million pounds at 425 ppm of uranium. Thatcher Soak's calcrete deposit is mostly less than 10 meters below the surface.

Thatcher Soak is fully owned by Elevate Uranium. The company believes that the property has the potential to benefit substantially from U-pgradeTM.

Minerva Project

The Minerva project is located in the Ngalia Basin in the Northern Territory in Australia. The Ngalia basin is a uranium-rich area that hosts several uranium projects. The Minerva project is located approximately 170 kilometers northwest of Alice Springs. The project contains high-grade uranium and high-grade gold.

Historical exploration results identified uranium mineralization over a 2,400-metre strike length. Extensive historical drill data identified 49 mineralized drill holes with sample grades greater than 250 ppm of uranium. Samples grades from 29 drill intervals were over 10,000 ppm or 1 percent of uranium. Uranium intercepts from drilling reached as high as 41,200 ppm of uranium. Gold on the property was also identified as high as 19.2 g/t.

The Minerva project is fully owned by Elevate Uranium.

Oobagooma Project

The Oobagooma project is located in the Kimberley region of Western Australia. The project is located 75 kilometers northeast of the coastal town of Derby. The property contains a sandstone-hosted uranium deposit.

From 1983 to 1986, the property was explored by a previous owner. Exploration and drilling of 40,536 meters revealed extensive zones of uranium mineralization.

Elavate defined an exploration target of 26 to 52 million pounds U308 with a grade range of 650 to 950 ppm U308, for its 100% owned Oobagooma Uranium Project. Murray said, "The Exploration Target of 26 to 52 million pounds indicates high potential for a significant resource at the Oobagooma Uranium Project and with some excellent grades intersected, we are anticipating a high grade range. The project has not been drilled since 1983 and therefore, the project has not been interrogated using modern day exploration techniques. We are very encouraged by the potential of this project and look forward to undertaking modern day exploration on the project."

Bigrlyi Project

The Bigrlyi project is a joint venture located in the Ngalia Basin in the Northern Territory of Australia. It is located approximately 320 kilometers northwest of Alice Springs. The deposit is a sandstone-hosted roll-front type uranium deposit.

The property contains a mineral resource estimate of 21.1 million pounds at 1,283 ppm of uranium and 19.7 million pounds at 1,197 ppm of vanadium.

Elevate Uranium owns 20.82 percent of the Bigrlyi project while Energy Metals Limited owns 72.39 percent and Noble Investment Pty Limited owns 6.79 percent.

Walbiri Project

The Walbiri project is a joint venture located in the Ngalia Basin in the Northern Territory of Australia. The project contains a sandstone-hosted roll-front type uranium deposit.

The property contains a mineral resource estimate of 15.5 million pounds at 641 ppm of uranium.

Elevate Uranium owns 22.88 percent of the Walbiri project while Energy Metals Limited owns 77.12 percent.

Malawiri Project

The Malawiri project is a joint venture located in the Ngalia Basin in the Northern Territory of Australia. The project contains a sandstone-hosted roll-front type uranium deposit.

The property contains a mineral resource estimate of 1.2 million pounds at 1,288 ppm of uranium.

Elevate Uranium owns 23.97 percent of the Malawiri project while Energy Metals Limited owns 76.03 percent.

Management Team

Murray Hill - Managing Director and Chief Executive Officer

Murray Hill is a respected metallurgist with extensive experience in all facets of the mining industry, including testwork, engineering design, process plant commissioning and operating. Hill is an innovative thinker who has made a positive impact on operations throughout his career. For 11 years before joining the company, he operated his own business providing metallurgical consulting services to the mining industry around the world, including a range of uranium projects. Hill is the champion of the U-pgradeTM process.

Shane McBride - CFO and Company Secretary

Shane McBride has 38 years of commercial management experience gained in listed Australian public companies incorporating the disciplines of corporate management, project development and mine site operations management, management and financial accounting, corporate finance, investor relations and company secretarial functions. McBride has been intimately involved with exploration, development, scoping and pre-feasibility studies and financing activities. McBride is a Fellow of CPA Australia, Fellow of Governance Institute of Australia and the Chartered Governance Institute; and is a member of the Australian Institute of Directors. McBride has been working in the uranium mining industry for 12 years.

Andrew Bantock - Non-Executive Chairman

Andrew Bantock is a senior managing director of the international corporate advisory firm FTI Consulting where he co-leads the Australian Mining and Mining Services Practice. Andrew has operated as CFO, chairman and CEO as well as director of the international, public, government sector and private corporations. His previous roles include CFO of Glencore Xstrata Plc's Australian nickel business; director of WA Water Corporation where he also chaired the audit committee; and chairman, CEO and corporate director of an ASX-listed multi-commodity minerals exploration group. Bantock was also the finance director of ASX- and NZSE-listed GRD Ltd, owner of New Zealand's largest gold miner and GRD Minproc (now part of AMEC Foster Wheeler), a world-class mining construction and development engineer. He has developed a reputation for building and improving companies over his 30 years in business. Bantock has been involved in the uranium mining industry for 8 years.

Stephen Mann - Non-Executive Director

Stephen Mann is a geologist and corporate leader with a wealth of experience in the discovery, development and commercialization of mining assets over three decades, including 17 years in senior roles in the uranium sector. Mann's uranium experience includes 12 years as Australian managing director of Orano, the world's third-largest uranium producer. At Orano, Mann led a sustained program of corporate improvement and active exploration. Mann also represented both Orano and Cameco on the board of publicly listed ERA Ltd. Mann was also owner and operator of the Ranger Uranium Mine in the Northern Territory of Australia. Mann was involved in the negotiations and sale of these two companies' stakes in ERA, to Rio Tinto. Mann later co-founded and floated ASX-listed U3O8 Ltd, where he led the discovery of the Dawson-Hinkler calcrete-hosted uranium deposit in Western Australia, before negotiating its sale to Toro Energy Limited.

*Disclaimer: This profile is sponsored by Elevate Uranium ( EL8:AU ). This profile provides information which was sourced by the Investing News Network (INN) and approved by Elevate Uranium in order to help investors learn more about the company. Elevate Uranium is a client of INN. The company's campaign fees pay for INN to create and update this profile.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Elevate Uranium and seek advice from a qualified investment advisor.

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