Drilling Re-Commences Testing Prospective Channels
Perth, Mar 5, 2019 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (DYLLF:OTCMKTS) advises that the final 3,000m leg of the 12,000m FY19 RC drilling program commenced 4 March 2019 on the Reptile Project within EPLs 3496 and 3497 and held by its wholly-owned subsidiary Reptile Uranium Namibia (Pty) Ltd as shown in Figure 1 (see link below).
The drilling has a two-fold focus:
- Follow-up resource drilling to test for resource upgrade of other specific uranium rich tributaries identified in the area east of Tumas 1 deposit.
- Preliminary testing of a high priority palaeochannel zone at Tumas Central, west of Tumas 3 deposit.
The positive results returned from the July 2018 - November 2018 drilling program confirmed the high prospectivity of the palaeochannels, as evidenced by the discovery of the uranium-rich seven channel tributary system identified in the Tumas 1 East area. Some of these channels that were followed up with resource drilling in November 2018 are the basis of a new resource estimate currently in evaluation and expected to be delivered late March 2019.
Drill line spacing on these priority target zones will be 100m to 200m drilled on 100m intervals. Drilling is expected to be of an average depth of 20m to 30m. This program is expected to be completed mid-April 2019.
The drilling program is continuing the exploration push to increase the inferred resource base of the calcrete type uranium mineralisation in palaeochannels towards the target of circa 100-150Mlb U3O8 in the grade range of 300 to 500ppm U3O8.
To view figures, please visit:
http://abnnewswire.net/lnk/860Q2H36
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.
| ||
|
