Drilling Commences to Test Highly Prospective Palaeochannels
Perth, Feb 12, 2018 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (DYLLF:OTCMKTS) (Deep Yellow) is pleased to advise that a 10,000m RC drilling program commenced 12 February 2018 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:
- Assess approximately 40km of the 100km of highly prospective palaeochannel system that has been delineated and remaining to be tested. This system includes the Tumas 3 discovery which was made in 2017. Seven semi-regional target zones have been defined for testing.
- Test the extensions of Tumas 1, 2 & 3 deposits for future resource enhancement.
The target zones isolated for the 2018 drilling investigations are a direct consequence of the successes of the 2017 work on EPLs 3496 and 3497. These positive results confirmed the high prospectivity of the palaeochannels, newly interpreted using the available historic exploration data base with the discovery of the Tumas 3 deposit. Over 100km of channel systems were identified as inadequately tested for Langer Heinrich style calcrete deposits.
Drill line spacing on these priority target zones will be 400 to 800m drilled on 200m intervals. Drilling is expected to be of an average depth of 30 to 40m. This program is expected to be completed by the end of June 2018.
This drilling program is expected to delineate new mineralised areas over the 40km of palaeochannels that will be tested in this phase and some of which may be, if time allows, followed up in the current program.
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 150Mlb U3O8 in the grade range of 350 to 500ppm U3O8.
To view figures, please visit:
http://abnnewswire.net/lnk/ZWU3G76N
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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