Renewal of Exploration Prospecting Licences
Perth, Aug 20, 2019 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (DYLLF:OTCMKTS) (Deep Yellow or Company) is pleased to advise the Namibian Ministry of Mines and Energy have notified the Company of their preparedness to grant the renewal of Exploration Prospecting Licences (EPLs) 3496 and 3497 for a further two years, until 4 August 2021. The location of EPLs 3496 and 3497 is shown in Figure 1 in link below.
These EPLs comprise the 100% owned Reptile Project tenements that contain the bulk of the surficial calcrete resources of the Company located within the highly prospective Tumas palaeochannel (86Mlb U3O8 grading 306ppm) and the basement alaskite resources of 45.1Mlb grading 420ppm U3O8.
As indicated in previous announcements the Reptile Project is the Company's priority focus in Namibia where continued exploration and resource upgrade drilling work is being carried out successfully working toward achieving between 100 to 150Mlb U308 on the Deep Yellow tenements in the grade range 300 to 500ppm uranium.
To view tables and figures, please visit:
https://abnnewswire.net/lnk/K10BK7G3
About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, leading uranium company producing 10+ Mlb pa. The Company's portfolio consists of two advanced projects in Tier-1 uranium mining jurisdictions - flagship Tumas in Namibia and Mulga Rock, Western Australia.
Deep Yellow's future growth is underpinned by its highly prospective exploration portfolio - Alligator River, 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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