December 2022 Quarterly Activities Report
Perth, Jan 27, 2023 AEST (ABN Newswire) - Deep Yellow Limited (ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) is pleased to provide an update on key activities completed in the December quarter.
- Tumas Project (Tumas) - Definitive Feasibility Study (DFS) completed and draft document under internal review by management and Board. DFS remains on schedule for completion in February 2023.
- Mulga Rock Project (MRP) - Program progressing to assess potential Project value-uplift by evaluating recovery of critical minerals.
- Alligator River Project (ARP)- Sampling and density determinations in support of Mineral Resource update completed.
- Omahola Basement Project (Omahola) - Completion of two-stage, 10,000m follow-up RC drill program, with positive results delivered and 3 new targets identified.
- Appointment of experienced resources and energy executive Ms Victoria Jackson as independent Non-Executive Director.
- Strong balance sheet with cash of $56 million.
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About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) (Namibian Stock Exchange:DYL) is a differentiated, advanced uranium exploration company, in predevelopment phase, implementing a 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. A PFS has recently been completed on its Tumas Project in Namibia and a DFS commenced February 2021. 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