In the December quarter work continued on the Namibian projects with a dual effort focussed on both uranium resource upgrade activities on the Reptile Project at Tumas 3 and completion of the first pass target drilling on selected exploration targets that have been identified on the Nova JV Project (see Figure 1 in link below).
- Two drilling campaigns completed during quarter on adjacent Namibian projects with successful results.
- Reptile Project - Tumas 3 deposit extended from 4.4km to 7.2km with 1,878m of broad drilling on 400m x 100m spacing.
o drill assays indicate extension area will add to current Tumas 3 inferred resource base.
o work to date confirming high prospectivity of the 100km of palaeochannel remaining to be tested.
- Nova JV Project - first pass drilling targeting mineralisation associated with surficial palaeochannels and alaskite/skarn type basement rocks completed involving 7,490m of RC and diamond drilling.
o promising results on the newly defined Namaqua palaeochannel target (formerly Speke's East) where uranium mineralisation was intersected in three adjacent holes.
o majority of drillholes testing basement targets intersected narrow uranium mineralisation requiring follow-up investigations.
- Increased confidence that the existing uranium resource base of the Company for Langer Heinrich-style deposits can continue to be expanded.
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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.