These tenements comprise the Nova Energy (Namibia) Pty Ltd Joint Venture in which Reptile Mineral Resources and Exploration (Pty) Ltd (wholly owned subsidiary of DYL) holds 65% (Manager), Nova Energy Africa (Pty) Ltd (wholly owned subsidiary of Toro Energy Limited) 25% and Sixzone Investments (Pty) Ltd 10%. The ground is regarded as being highly prospective for uranium in both paleo-channel calcrete associated Langer Heinrich type targets and basement alaskite associated Rossing/Husab type targets.
DYL is confident, that, with ongoing expenditure, these EPLs will be favourably considered for a further 2 years when the time comes for an application for an extension to be submitted to the MME.
About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is a specialist uranium company implementing a new strategy to grow shareholder wealth. This strategy is founded upon growing the existing uranium resources across the Company's uranium projects in Namibia and the pursuit of accretive, counter-cyclical acquisitions to build a geographically diverse asset portfolio.
In parallel to its expansion objectives, the Company has a cornerstone suite of projects in Namibia, a top-ranked African mining destination with a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.
Deep Yellow Limited