June Quarterly Activities Report
Perth, July 14, 2020 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) announce the June Quarterly Activities Report with the following significant highlights.
- Pre-Feasibility Study test work at the Tumas Project using RC sample material, delivered highly encouraging results equal to or better than assumptions used in the Scoping Study
o Further metallurgical test work using representative Tumas 3 diamond core sample material validated the excellent RC sample results
- Successful infill drilling at Tumas 3 delivered a remarkable, almost 100% conversion of the Inferred Resource to an Indicated Resource category, with overall resources at Tumas 3 now 36.8Mlb at 328ppm comprising:
o Indicated Resources of 24.1Mlb at 313ppm eU3O8; and
o Inferred Resource of 12.7Mlb at 358ppm eU3O8
- The total Measured and Indicated Resource at Tumas 1, 2 and 3 stands at 37.2Mlb at 337ppm eU3O8, well above what is required for completion of the Tumas Pre-Feasibility Study
POST-QUARTER
- Breakthrough results from the Nova JV drill program, intersecting zones of thick uranium mineralisation in basement targets
- Seven holes completed with all holes intersecting mineralisation. Grades and thickness improving to the north. Best intersections included:
o TN236RC - returned a cumulative downhole thickness of 44m, Specifically:
- 2m at 385ppm eU3O8 from 32m
- 10m at 326ppm eU3O8 from 63m
- 24m at 297ppm eU3O8 from 139m
- 8m at 216ppm eU3O8 from 164m
o TN237RC
- 10m at 305ppm eU3O8 from 64m
- 2m at 339ppm eU3O8 from 113m
- The highly promising results indicate that the 4km by 1km Barking Gecko prospect is part of a larger mineralised system, which includes basement-related deposits in the adjacent 100% owned Reptile Project, defining an 18km zone of very high uranium prospectivity.
To view the full report, please visit:
https://abnnewswire.net/lnk/N191LTCF
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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