Deep Yellow Limited (ASX:DYL) March Quarterly Activities Report

In March Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) (Deep Yellow) announced an updated Mineral Resource Estimate (MRE) for Tumas 1&2, Tumas 1 East and Tumas 3 West which has resulted in the combined Measured, Indicated and Inferred Mineral Resource Estimate over these deposits increasing to 67.4Mlb grading 352ppm eU3O8.

HIGHLIGHTS

REPTILE PROJECT

- Resource estimate update from infill drilling at Tumas 1&2, Tumas 1 East and Tumas 3 West produced a 51% increase of the resource base while maintaining the average grade.

o Combined Measured, Indicated and Inferred Mineral Resources now stand at 67.4Mlb grading 352ppm eU3O8 from these deposits.

- Resources within the Tumas palaeochannel system now total 86.2Mlb at 310 ppm eU3O8 - three-fold increase since November 2016.

- Overall palaeochannel-related Mineral Resources have been doubled since November 2016 and are now 104.2Mlb grading 295ppm eU3O8.

Post Quarter Results

- Positive ongoing drilling at Tumas 1 East identified 3km of continuous mineralisation in Tributary 5.

- Exploration drilling at Tumas Central successfully defining consistent uranium mineralisation along 1.5km of palaeochannel.

- 60km of uranium-fertile palaeochannel targets remains to be properly tested (only 50% of target evaluated to date).

NOVA JV PROJECT

- JOGMEC approved annual budget of A$1.05M to March 2020

To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/DMPMP112


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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