Tumas 3 Deposit, Namibia - Follow Up Drilling Commenced
Perth, Nov 3, 2017 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (DYLLF:OTCMKTS) (Deep Yellow) is pleased to report that a 2,000m RC drilling program is commencing 3 November 2017 on its Tumas 3 uranium deposit in Namibia located within EPL 3496.
This drilling will target the immediate extensions of the Tumas 3 deposit for which a maiden Inferred Resource was announced on 27 September 2017. This resource is open both to the east and west occurring with an extensive and highly prospective palaeochannel system. The drilling is designed to confirm continuation of the uranium mineralisation and also is preparatory to the larger drilling programs scheduled to commence on this project in February 2018.
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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