Marenica project's mineral resource increases to 52.8Mlbs
The Joint Ore Reserves Committee-compliant mineral resource estimate for ASX-listed Elevate Uranium's Marenica project, in Namibia, has increased by 12.6-million pounds of triruranium octoxide to 52.8-million pounds of triruranium octoxide, at 180 ppm.
This represents a 31% increase in contained metal since the start of this year.
“The growth at Marenica this year has been substantial. In February, we reported a resource that had essentially doubled in grade following a comprehensive reanalysis of our historical dataset. Now, with targeted infill drilling of the areas we identified as growth targets at the time, we have added a further 12.6-million pounds to bring the total to 52.8-million pounds at a grade of 180 ppm.
"The resource is growing methodically and with improving confidence. We currently have four drill rigs working to convert the inferred resource to indicated, the classification required to support financial studies; while simultaneously processing Marenica bulk samples through the U-pgrade pilot plant, in Namibia.
"Both programmes are advancing in parallel, and the results will underpin our next phase of development,” comments Elevate MD Murray Hill.
U-pgrade is Elevate's patented beneficiation process that was developed on ore from the Marenica project. It rejects greater than 95% of the mass of uranium ore by using commonly used and well-understood beneficiation unit processes, which enables the removal of the non-uranium bearing minerals, the company explains on its website.
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