31 December 2021 Half-Year Financial Report
Perth, Mar 15, 2022 AEST (ABN Newswire) - Deep Yellow Limited's (
ASX:DYL) (DYLLF:OTCMKTS) Activities for the six-month period to 31 December 2021 involved continuing the advancement of the Tumas Definitive Feasibility Study together with the Company's Namibian exploration projects, and continued M&A efforts.
Key achievements:
- Infill resource upgrade drilling program completed on Tumas 3 and 1 East deposits, with a total of 1,473 holes for 24,942m (refer ASX announcement 19 August 2021).
- Measured and Indicated Mineral Resource increased significantly at Tumas 1, 2, 3 and 1 East, to 98.7Mlb at 266ppm eU3O8 (refer ASX announcement 2 September 2021).
- Tumas Probable Ore Reserves increased by an impressive 121% to 68.4Mlb U3O8 at 345ppm using a 150ppm U3O8 cut-off with three deposits increasing Life of Mine beyond the 20-year target for the Project (refer ASX announcement 5 October 2021).
- Tumas Definitive Feasibility Study progressing well and on schedule for completion in latter half of CY2022.
- Thorough review of the Omahola Basement Project resources completed, resulting in the upgrade of resources to JORC (2012). Upgraded Mineral Resource Estimate (MRE) includes a Measured, Indicated and Inferred Resource base of 125.3Mlb at 190ppm U3O8 using 100ppm cut-off (refer ASX announcement 4 November 2021).
- Omahola basement exploration outlined three highly prospective targets for follow-up (refer ASX announcement 22 December 2021).
- 10 holes for 2,549m completed at Barking Gecko, successfully completing the Phase 1 drilling program of 14 holes for 3,561m (refer ASX announcement 18 January 2022).
*To view the full report, please visit:
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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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