March 2018 Quarterly Activity Report
Perth, April 23, 2018 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (DYLLF:OTCMKTS) provides the Company's Quarterly Activity Report for the period ending 31 March, 2018.
HIGHLIGHTS
- Reptile Project - 173 RC holes drilled for 5,923m over 2 targets in the highly prospective Tumas palaeochannel system
o 72 drill holes returned > 100ppm eU3O8 over 1m
o Targeting calcrete associated hosted mineralisation within palaeochannels, similar to the Langer Heinrich uranium mine located 30km to the north east
- Resource drilling focussed on Tumas 3 East returned 50 anomalous holes from 84 holes drilled.
- Semi-regional target tested part of Tumas palaeochannel and returned 22 anomalous holes from 89 holes drilled.
- Nova JV Project- JOGMEC approved annual budget of $1.3M to March 2019.
During the March quarter work continued on the 2 Namibian projects: Reptile Project (EPLs 3496 and 3497) and the Nova Joint Venture Project (EPLs 3699 and 3670). See Figure 1 in link below for locations. Activities on the Reptile Project focussed on uranium resource upgrade activities in the areas immediately adjacent to the Tumas 3 deposit and on semi-regional exploration drilling over parts of the general Tumas palaeochannel system. On the Nova JV project, work involved assessment of the field activities carried out during last year and preparing and presenting the program and budget for the following year for approval by JOGMEC.
To view the full report with figures, please visit:
http://abnnewswire.net/lnk/795N6958
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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