Elevate Uranium Ltd · ASX:EL8
Elevate Uranium — Marenica Energy — Shareholder Meeting (November 2012)
12 slides from Elevate Uranium's shareholder meeting presentation, Nov 29, 2012
Slide 1: Marenica Energy Ltd AGM – 2012
Marenica Energy Ltd AGM – 2012
Slide 2: Disclaimer & Declaration
DISCLAIMER & DECLARATION Disclaimer ! This presentation has been prepared by Marenica Energy Limited (MEY) for general information purposes only. The presentation is not and should not be considered as an offer or invitation to subscribe for or purchase any securities in MEY, or as an inducement to
Slide 3: The Project
THE PROJECT • The Marenica deposit contains 276Mt @ 94ppm U3O8 for 57.3Mlbs U3O8 JORC Compliant Resource – 6.5Mlbs Indicated and 50.9Mlbs Inferred) • Large low grade deposit • Located in World Class Uranium province • Namibia is politically stable • 4th largest Uranium producing region in world “Low
Slide 4: 2012 in Summary
2012 IN SUMMARY • SRK 2011 Scoping Study review • Project sub-economic using conventional processing • Ore characteristics re-examined in early 2012 • Significant upgrade opportunity identified
Slide 5: Breakthrough
BREAKTHROUGH • Ore has unique characteristics • Single uranium mineral – Carnotite (uranium oxide mineral) • Carnotite in distinct size range • Carnotite occurs as discrete particles “Unique characteristics of Carnotite telling us to upgrade”
Slide 6: Exciting Opportunity
EXCITING OPPORTUNITY • Unique characteristics of Carnotite provide outstanding opportunity to upgrade • Opportunity to use low cost concentration techniques • Techniques well established in other mineral industries • Non conventional processes for uranium ores “Opportunity for low cost concentration
Slide 7: Uranium Mineralogy
URANIUM MINERALOGY ! Carnotite the Uranium bearing mineral ! Well formed Carnotite crystals (white), typically 5-125µm ! Generally occurs as discrete particles within clay-mica matrix conglomerates ! Scrubbing of conglomerate liberates carnotite “Readily liberated uranium mineral”
Slide 8: Carnotite Particles
CARNOTITE PARTICLES ! Carnotite shown as red ! Limited composites with gangue (waste) ! Carnotite particle size 5-125µm QEMSCAN Result -38/+20µm Particles containing Carnotite “Carnotite extremely well liberated”
Slide 9: Uranium in Distinct Size Band
URANIUM IN DISTINCT SIZE BAND ! Very low U grades in coarse size fractions >125µm ! Concentration of U in <125µm fractions ! Very high distribution of U in <125µm fractions “Potential to concentrate from distinct size band”
Slide 10: Upgrade Options
UPGRADE OPTIONS Process Comment Wet Scrubbing Wash conglomerates Screening Separate low grade coarse Magnetic Separation Carnotite paramagnetic Carnotite SG 4.2 compared to bulk of Gravity Separation gangue minerals at 2.5-2.7 Flotation Carnotite in size range for flotation Upflow Classification Exp
Slide 11: Testwork Programme
TESTWORK PROGRAMME ! Bulk Samples excavated for metallurgical testing ! Technical programme in progress at CSIRO Perth ! Majority of programme in progress at Amdel ! Findings over the past month have been very encouraging ! This is ground breaking development ! Marenica have applied for a patent due
Slide 12: Summary
SUMMARY ! Large low grade resource ! Low sovereign risk ! Key to unlocking value revealed ! Single Uranium mineral – Carnotite ! Carnotite in distinct size range ! Carnotite occurs as discrete particles ! Upgrade potential identified ! Real opportunities for low cost processing ! Real opportunities
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