CHAMWE KAIRA
Elevate Uranium Limited is advancing uranium projects in Namibia as it works to develop its global resource portfolio of 161 million pounds (Mlb) of uranium oxide (U₃O₈), supported by a cash balance of about A$40 million and no debt.
The Australian-listed company holds 112 Mlb of its total resource in Namibia, with its remaining 49 Mlb located in Australia.
Elevate Uranium is progressing its projects using its patented U-pgrade technology, which is designed to remove waste minerals from near-surface calcrete uranium ores before leaching.
According to the company, the process can reject more than 95% of non-uranium-bearing minerals and concentrate low-grade ore by up to 50 times.
It estimates that the technology could reduce capital and operating costs by about 50% compared with conventional processing methods.
The company has constructed a demonstration pilot plant in Perth, Australia, to test the technology under continuous operating conditions.
The plant was transported to Namibia for assembly and commissioning, with test runs and data analysis planned through early 2026.
Namibia is the main focus of Elevate Uranium’s project portfolio, led by its Koppies Uranium Project, which has a reported resource of 56 Mlb.
The company says about 50% of the mineralisation at Koppies lies within seven metres of the surface, while 95% is within 17 metres.
The shallow mineralisation could support open-pit mining with relatively low stripping requirements.
At the nearby Hirabeb deposit, Elevate Uranium has reported a maiden inferred resource of 10.2 Mlb.
Extension drilling is continuing, with mineralisation remaining open in several directions, according to the company.
Resource definition drilling is also under way at the Namib IV exploration area, where the company is targeting a maiden Mineral Resource Estimate in the first quarter of 2026.
At the Marenica Uranium Project, which has a reported JORC resource of 61 Mlb, the company is reviewing the resource using a higher cut-off grade and plans infill drilling to improve resource confidence and potentially upgrade material to the indicated category.
In Australia, Elevate Uranium’s portfolio includes the Angela Uranium Project in the Northern Territory, which has an inferred resource of 31 Mlb at a grade of 1 310 parts per million U₃O₈.
Exploration drilling is targeting a newly identified lower-lying mineralised lens. The campaign is partly supported by a grant from the Northern Territory Government’s Resourcing the Territory programme.
Bench-scale tests have also indicated that applying U-pgrade technology to Angela ore could reduce acid consumption during processing by up to 80%, the company said.
At the Minerva prospect, northwest of Alice Springs, an analysis of historical drilling data identified 49 mineralised drill holes exceeding 250 parts per million U₃O₈.
Ten intercepts recorded grades above 10 000 parts per million, equivalent to 1% U₃O₈, across a strike length of 2 400 metres.
Further exploration is intended to identify the geological structures that could guide future drilling.
