March 2018 Quarterly Activity Report
- Reptile Project - 173 RC holes drilled for 5,923m over 2 targets in the highly prospective Tumas palaeochannel system
o 72 drill holes returned > 100ppm eU3O8 over 1m
o Targeting calcrete associated hosted mineralisation within palaeochannels, similar to the Langer Heinrich uranium mine located 30km to the north east
- Resource drilling focussed on Tumas 3 East returned 50 anomalous holes from 84 holes drilled.
- Semi-regional target tested part of Tumas palaeochannel and returned 22 anomalous holes from 89 holes drilled.
- Nova JV Project- JOGMEC approved annual budget of $1.3M to March 2019.
During the March quarter work continued on the 2 Namibian projects: Reptile Project (EPLs 3496 and 3497) and the Nova Joint Venture Project (EPLs 3699 and 3670). See Figure 1 in link below for locations. Activities on the Reptile Project focussed on uranium resource upgrade activities in the areas immediately adjacent to the Tumas 3 deposit and on semi-regional exploration drilling over parts of the general Tumas palaeochannel system. On the Nova JV project, work involved assessment of the field activities carried out during last year and preparing and presenting the program and budget for the following year for approval by JOGMEC.
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About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) (Namibian Stock Exchange:DYL) is a specialist differentiated uranium company implementing a new contrarian 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 global, geographically diverse asset portfolio. The Company's cornerstone suite of projects in Namibia is situated within a top-ranked African mining destination in a jurisdiction that has a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.
Deep Yellow Limited