Elevate Uranium Limited announced the discovery of a 16 kilometre zone of continuous uranium mineralisation at EPL 7508 (known as Capri). Previous exploration using airborne electro-magnetic surveys identified extensive palaeochannels associated with radiometric anomalies in both the western and eastern areas of the tenement. Subsequently, this maiden drill program was completed over the palaeochannels in the western half of the tenement, resulting in this new uranium discovery.

The eastern half of the tenement is yet to be drilled. Exploration Summary: This 284 hole drill program was spread over a very wide area, with drill lines spaced at an average of 3,100 metres apart and a drill hole spacing of 200 metres along those lines. Nevertheless, with the mineralisation less than 25 metres deep, the results provide a good picture of the potential mineralisation within the western half of the tenement.

Whilst this drill program was focused on the palaeochannels in the west of the tenement, future exploration and subsequent drilling activities will test the broader and deeper palaeochannels in the east. During the course of exploring the tenement, 36 historical drill holes were also located. It is believed that these holes were drilled in the late 1970's, with all but one remaining open.

Elevate Uranium has downhole gamma probed these open drill holes during the current program to determine the presence of mineralisation and an eU3O8 grade.