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

Perth, July 20, 2021 AEST (ABN Newswire) - Deep Yellow Limited (ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) announce the June Quarterly Activities Report.

HIGHLIGHTS

- Tumas Definitive Feasibility Study progressing well and on schedule for completion in December quarter 2022

- Tumas Project Environmental Impact Assessment Scoping Report delivered to Namibian Government agencies and Mining Licence Application will be submitted by end of July 2021

- Infill resource upgrade RC drilling at Tumas 3 completed in support of the DFS, with 755 holes drilled in the quarter for 14,955m

- Completion of drilling at Tumas 3 West finalises broader Tumas 3 RC infill program with 911 holes completed for 17,679m

- Notable intersections from this program include:

o T3I930 10m at 1,945ppm eU3O8 from 28m
o T3I963 8m at 2,242ppm eU3O8 from 10m
o T3I973 9m at 1,897ppm eU3O8 from 7m
o T3I459 7m at 997ppm eU3O8 from 4m
o T3I756 6m at 688ppm eU3O8 from 17m

- Infill resource upgrade drilling program continuing at Tumas 1 East and expected to be completed late July 2021

- $1.1M annual budget for 2021/22 agreed for Nova JV, with $580,000 approved for 3,500m RC drilling program commenced in July targeting promising results at Barking Gecko

- Deep Yellow strengthens its Board and Executive Management through the appointment of Mr Chris Salisbury as Chairman and Andrew Mirco as Head of M&A

- Deep Yellow added to MSCI Global Market Cap Index

- Strong cash balance of $52.4M at quarter end, with 51M 50c options remaining to be exercised

To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/NAS22H17


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.

   

Contact

John Borshoff Managing Director/CEO T: +61-8-9286-6999 Email: john.borshoff@deepyellow.com.au www.deepyellow.com.au