December Quarterly Activities Report
Perth, Jan 15, 2019 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (DYLLF:OTCMKTS) provides the Company's December Quarterly Activities Report.
HIGHLIGHTS
- Tumas 1 East (EPL 3496 Reptile Project) - highly significant uranium mineralisation identified in previously unknown tributary channels 1, 2, 4 and 5.
o To date a total of 16km of highly prospective mineralised channel has been identified for follow-up resource drilling.
o First stage of infill resource drilling has delineated a zone of 6.2km ready for resource estimation work with the balance to be infill-drilled during 2019.
- Tumas 3 West (EPL 3497 Reptile Project) - infill resource drilling of a tributary palaeochannel identified 2.2km of mineralised channel also to be considered for resource estimation work.
- Nova JV Project (EPLS 3669/3670) - 2018 exploration drilling totalling 122 RC holes involving 4,874m was completed.
o Encouraging results encountered in palaeochannels on both EPLs.
o At the Iguana Prospect on EPL 3669 drilling intersected narrow uranium mineralisation in basement rocks.
- An updated Mineral Resource Estimate is expected in Q1 2019 incorporating Tumas 1 East and Tumas 3 West.
To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/1FH0987V
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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