March Quarterly Activities Report
Perth, April 29, 2019 AEST (ABN Newswire) - In March Deep Yellow Limited (
ASX:DYL) (DYLLF:OTCMKTS) (Deep Yellow) announced an updated Mineral Resource Estimate (MRE) for Tumas 1&2, Tumas 1 East and Tumas 3 West which has resulted in the combined Measured, Indicated and Inferred Mineral Resource Estimate over these deposits increasing to 67.4Mlb grading 352ppm eU3O8.
HIGHLIGHTS
REPTILE PROJECT
- Resource estimate update from infill drilling at Tumas 1&2, Tumas 1 East and Tumas 3 West produced a 51% increase of the resource base while maintaining the average grade.
o Combined Measured, Indicated and Inferred Mineral Resources now stand at 67.4Mlb grading 352ppm eU3O8 from these deposits.
- Resources within the Tumas palaeochannel system now total 86.2Mlb at 310 ppm eU3O8 - three-fold increase since November 2016.
- Overall palaeochannel-related Mineral Resources have been doubled since November 2016 and are now 104.2Mlb grading 295ppm eU3O8.
Post Quarter Results
- Positive ongoing drilling at Tumas 1 East identified 3km of continuous mineralisation in Tributary 5.
- Exploration drilling at Tumas Central successfully defining consistent uranium mineralisation along 1.5km of palaeochannel.
- 60km of uranium-fertile palaeochannel targets remains to be properly tested (only 50% of target evaluated to date).
NOVA JV PROJECT
- JOGMEC approved annual budget of A$1.05M to March 2020
To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/DMPMP112
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.
| ||
|
