2023 Drilling Program Underway
Elevate Uranium Limited
Registration Number: ABN: 71 001 666 600
Registered as an external company in Namibia
ISIN Code: AU0000156416
NSX Share Code: EL8
2023 Drilling Program Underway
Highlights:
• Latest drilling results indicate:
o Koppies 2 now connects with Koppies 4
o Koppies 1 is now considered likely to connect with Koppies 2
o Most likely Koppies 1, 2, 3 and 4 are all connected, for an aggregate length of 20 km
• Two drill rigs have recommenced drilling at Koppies after the Christmas / New Year break
Elevate Uranium Limited (“Elevate Uranium”, or the “Company”) (ASX:EL8)
(OTCQX:ELVUF) is pleased to provide the market with an update on the continuing
success of its drilling programs at the Koppies Project in Namibia and to advise that the
2023 drilling program has commenced.
This update follows on from the discovery of Koppies 4 in November 2022 (see ASX
release titled “Koppies Mineralisation Increased to Over 19 km” dated 22 November
2022), and the earlier announcement of the JORC (2012) Inferred Mineral Resource
Estimate of 20.3 million pounds eU3O8 atKoppies 1 and 2 (see ASX release titled “22%
Increase in Mineral Resources” dated 4 May 2022). The latest drilling results have
highlighted the following:
• Mineralisation identified south of Koppies 2, indicates that Koppies 2 connects with
Koppies 4,
• Mineralisation identified between Koppies 1 and 2, indicates that these two areas
are also likelyconnected,
• The continuity between these areas reinforces the likelihood that the Koppies
mineralised areahas an aggregate length of 20 km.
Elevate Uranium’s Managing Director, Murray Hill, commented:
“The latest drill results which identify mineralisation south of Koppies 2, indicates that
Koppies 2 connects with Koppies 4 and further suggests that the mineralisation extends
the full north-south extent of the Koppies tenement. We have now demonstrated that
mineralisation is likely continuous betweenall four zones of the Koppies project extending
for a strike length of 20 km and up to 4 km in width.
Drilling has now recommenced after the Christmas / New Year break, with two drill rigs
operating in the greater Koppies area to further locate and define the uranium
mineralisation. We expect that the drillingprograms to be undertaken in 2023 will further
define and consolidate the extent of the greater Koppies area.”
The full document can be viewed at the following link: https://www.elevateuranium.com.au/wp-
content/uploads/2023/01/2504222.pdf
On behalf of Board of Directors
Murray Hill
Managing Director & CEO
30 January 2023
Post Strasse Hof
Commercial unit 3
Second Floor
35 Daniel Tjongarero Avenue
Swakopmund
Namibia
Sponsor
IJG Securities (Pty) Ltd
Member of the NSX
4th Floor, 1@Steps, C/O Grove and Chasie Street
Kleine Kuppe, Windhoek
P O Box 186, Windhoek, Namibia
Registration No. 95/505
Date: 30-01-2023 11:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.