December Quarterly Activities Report
Perth, Jan 28, 2020 AEST (ABN Newswire) - In November 2019, Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) announced an updated Mineral Resource Estimate (MRE) for the Tumas 1 East deposit (Tumas 1 East), located within the Reptile Project.
Successful resource extension drilling resulted in a 34% increase in resource growth at Tumas 1 East, with Inferred Mineral Resources now 24.8Mlb at 319ppm eU3O8 (at a 200ppm eU3O8 cut-off).
Total combined measured, indicated and inferred calcrete resources in the Tumas palaeochannel (Tumas 1 East, 1, 2, 3 and Tubas Red Sand/calcrete deposits) now stand at 92.5Mlb at 303ppm eU3O8. (Figure 1*).
The uranium mineralisation defined to date in the Tumas palaeochannel system occurs as three distinct mineralised bodies: the Tumas 1 and 2 deposits, now including the Tumas 1 East tributary extensions, the Tumas 3 deposit and the Tubas Red Sand/Calcrete deposits.
These deposits occur on EPLs 3496 and 3497, held by Deep Yellow's wholly owned subsidiary, Reptile Uranium Namibia (Pty) Ltd.
With the combined overall Tumas palaeochannel resource totalling 92.5Mlb eU3O8 at 303ppm over EPLs 3496/97 (see Table 1*), the overall total surficial calcrete-related Mineral Resources across the Company's Namibian projects, including the Aussinanis Deposit on EPL3498, have more than doubled since 2017 to 110.5Mlb U308.
Resource extension RC drilling programs succeeded in closing off the Tributary 5 deposit in the Tumas 1 East area (Figure 4*), with Deep Yellow also completing some limited infill drilling within the Tributary 4 channel. A total of 591 RC holes were drilled for 6,281m during the Tumas 1 East drilling campaigns, with 291 holes returning positive results, a pleasing overall success rate of 50%.
*To view the quarterly report, please visit:
https://abnnewswire.net/lnk/KFYDA1C8
About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.
The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy.
Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.
Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.
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