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Elevate Uranium Limited (ASX:EL8) releases its quarterly activities reported to December 2021.
- Large Bodies of Shallow Mineralisation Delineated at Koppies
- 558 holes for 4,701 metres drilled in the Koppies resource definition drilling program.
- Drilling confirmed continuity of shallow, calcrete hosted uranium mineralisation
- · Fully Funded to Accelerate Exploration Activities
- Strong financial position with $16.4 million cash at bank.
- Accelerated exploration activities commenced in Namibia and Australia.
- Strong Support for Capital Raising
- $11.5 million placement completed in November 2021 to institutional, sophisticated and professional investors.
Resource Drilling at Koppies
A resource definition drilling program completed in December 2021 at the Koppies project in the Erongo Region of Namibia, confirmed continuity of shallow, calcrete hosted uranium mineralisation. The Koppies drilling program was designed to further define, at a nominal hole spacing of 100 m x 100 m, uranium mineralisation previously discovered by Elevate Uranium.
In the latest program, 111 holes for 935 m were completed at Koppies I and 447 holes for 3,766 m at Koppies II. Including the discovery drill holes, the aggregate number of holes drilled at Koppies I is 129 (1,153 m) and Koppies II 523 (4,590 m).
This article includes content from Elevate Uranium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.