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Elevate Uranium Ltd (ASX:EL8)
ALERT: Price-sensitive ASX Announcement for EL8
Current share price for EL8 : $0.200 -0.045 (-18.37%)+
Announcement
Release
10 Jun 2026 8:18AM
Price at Release
$0.245
Full Release
Summary
Elevate Uranium Ltd announced a 31% increase in the mineral resources of its Marenica Uranium Project in Namibia, bringing the total to 52.8 million pounds of U3O8 at a grade of 180 ppm. This increase was achieved through infill drilling of targeted growth areas identified in a previous update. The Marenica Project is now one of the significant uranium resources in Namibia's Erongo region, which is supportive of uranium mining. The company's focus includes processing bulk samples through its Pilot Plant in Namibia to support feasibility studies. The additional resources are expected to advance the company's strategic development plans, supported by its proprietary U-pgrade™ beneficiation process that enhances uranium recovery.
Key Points
- Marenica Project Mineral Resource increased to 52.8 Mlb U3O8.
- 31% increase achieved through infill drilling.
- Total Namibian portfolio now 116 Mlb U3O8.
- Marenica Project part of Elevate Uranium's district-scale development plan.
- U-pgrade™ process central to project advancement.
- Resource grade effectively doubled since February 2026.
- Ongoing efforts to convert Inferred Resources to Indicated.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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