Drilling Recommences on Tumas Project, Namibia
Perth, Sep 7, 2020 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) is pleased to advise drilling has recommenced on the Company's Tumas Project (Project), located on EPL 3496 in Namibia.
See Figure 1* for project location. The Company is currently completing a Pre-Feasibility Study (PFS) for the Project. Results and samples collected in the drilling program will be key to an anticipated future Feasibility Study (FS).
The drilling program will involve drilling approximately 90 RC holes for 1,800m commencing 7 September and is expected to be completed during October 2020. This work has multi-facet objectives including:
- Collection of a minimum of 1,000kg RC drill chips samples for further metallurgical test work in view of the recently announced determination that RC chips were suitable for future metallurgical testing in place of the more expensive diamond core option;
- In addition to the routine downhole gamma logging, also carry out downhole imagery scanning using optical borehole scanner (OPTV) technology to differentiate lithologies in particular the coarse pebble/conglomerate grain size distribution; and
- Consolidation of the resource base relevant to the Tumas PFS area of influence, as shown in Figure 1*.
In addition, we can advise the project manager has been appointed to conduct the Environmental Impact Assessment (EIA) process and prepare the EIA document for the Project.
The environmental baseline studies are well underway with groundwater baseline information established and fauna and flora surveys completed. The radiation and air quality surveys have commenced.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/018NRAVM
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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