June Quarterly Activities Report
Perth, July 24, 2019 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) provide the June Quarterly Activities Report
HIGHLIGHTS
REPTILE PROJECT
- Drilling at Tumas 1 East identified 3km of continuous mineralisation in Tributary 5.
- 60km of uranium-fertile palaeochannel targets remain to be properly tested (only 50% of target evaluated to date).
- 11,000m RC drilling approved for FY20 on Reptile Project. - Follow-up drilling at Tumas 1 East commenced in July.
NOVA JV PROJECT
- Annual JV budget of A$1.05M to March 2020 approved by JOGMEC.
- 7,000m drilling program commencing early August.
CORPORATE - Post Quarter
- $11.29M successfully raised via Placement and Share Purchase Plan to advance growth strategy.
- President Trump rejects Section 232 petition.
To view the quarterly report, please visit:
http://abnnewswire.net/lnk/6WLOUM7K
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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