Elevate Uranium Expands Projects in Central Australia

The company acquired new uranium assets to consolidate its portfolio in the Northern Territory and South Australia.

Updated on Oct. 27, 2026 in Nuclear

Close-up of rock core samples in a drill tray resting on an industrial rack in the Australian outback. — Elevate Uranium Limited has acquired new mineral assets from Core Lithium Ltd, expanding its uranium resource portfolio in Central Australia to 169 million pounds. AI Illustration. Upload story photo >

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On 23 December 2025, Elevate Uranium Limited announced the acquisition of uranium projects from Core Lithium Ltd. This strategic move aims to consolidate the company's Central Australian portfolio.

Why it matters

The acquisition significantly bolsters Elevate Uranium's holdings, bringing its total global mineral resources to 169 million pounds of U3O8.

The Napperby project contains a mineral resource of 8.03 million pounds at 382 ppm U3O8. Elevate Uranium utilised U-pgrade technology to test ore samples, while additional exploration at the Fitton project yielded a 21-metre intersection at 978 ppm U3O8.

The players

Elevate Uranium Limited

This mining company focuses on the exploration and development of uranium deposits with assets in Australia and Namibia.

Core Lithium Ltd

This Australian mining company is primarily engaged in the exploration and development of lithium projects.

The details

The transaction includes four additional tenements located across the Northern Territory and South Australia. These new assets are strategically situated, with the Napperby project positioned just 25 kilometres from the company's existing Minerva uranium project.

The acquisition was first announced on 23 December 2025.
The official company announcement was published on 27 October 2026.

The Big Picture

The consolidation of these uranium assets follows the operational requirements set out by the Australian government's uranium mining and export policy framework.

Future resource extensions at the Napperby project depend on the outcome of further drilling programmes. Should these results prove viable, the expanded resource capacity could contribute to larger long-term energy supply chains.

The takeaway

This acquisition positions Elevate Uranium to potentially increase its output through more concentrated regional exploration. Investors and stakeholders should monitor upcoming drilling results for verification of the site's economic potential.