Strong Results Returned from Alligator River Drill Program
Perth, May 1, 2023 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) is pleased to announce strong assay results from the 2022 diamond drilling program completed at the Angularli deposit (Angularli), which forms part of the Alligator River Project (ARP) (see Figure 1*).
The drill program comprised of 18 holes for 6,339m and was completed between 28 June and 22 October 2022.
Importantly, drilling successfully extended Angularli through the identification of further mineralised fault corridors located in close proximity to the current Mineral Resource, which totals 25.9Mlb at 1.29% U3O8, at a cut-off grade of 1,500ppm eU3O8 (see Table 1*).
Details of all drill holes and chemical uranium grade (U3O8) intercepts are provided in Appendix 1* and full reporting of sampling techniques, data and exploration results is provided in Appendix 2*.
Results from the diamond drill program, along with bulk density sample analyses will underpin the completion of a revised MRE, expected to be completed by mid-Q2 2023.
HIGHLIGHTS
- Final assay results received for 18-hole, 6,339m diamond drilling program completed in December 2022 at the Angularli deposit
o Chemical assays reported a 12% positive bias relative to equivalent uranium grades reported previously for higher-grade intercepts above 1% U3O8
- Significant results returned from the program include:
o ARDD0003 (cumulative 19m):
- 5.0m at 0.54% U3O8 from 170.6m
- 5.50m at 0.63% U3O8 from 183.6m
- 8.5m at 0.30% U3O8 from 191.1m
o ARDD0004 (cumulative 20m):
- 8.0m at 0.30% U3O8 from 179.2m
- 6.50m at 1.26% U3O8 from 218.0m, including
- 2.5m at 1.42% U3O8 from 218.0m
- 3.0m at 1.54% U3O8 from 221.5m
o ARDD0005 (cumulative 33.3m):
- 15.5m at 0.70% U3O8 from 199.6m, including
- 10.3m at 1.03% U3O8 from 202.3m
- 7.5m at 0.27% U3O8 from 218.1m
o ARDD0007 (cumulative 8.5m):
- 1.5m at 0.78% U3O8 from 176.0m
- 7.0m at 0.57% U3O8 from 203.5m
o ARDD0008 (cumulative 7.3m):
- 5.5m at 0.79% U3O8 from 176.1m
- 1.8m at 0.64% U3O8 from 202.0m
o ARDD0012 (cumulative 11.5m):
- 3.0m at 0.74% U3O8 from 210.3m, including
- 1.5m at 1.40% U3O8 from 211.8m
- 7.0m at 0.50% U3O8 from 216.3m
o ARDD0013 cumulative 6m):
- 4.5m at 0.73% U3O8 from 182.3m, including
- 1.5m at 1.24% U3O8 from 182.3m
o ARDD0017:
- 1.2m at 0.84% U3O8 from 337.0m
- Rigorous Quality Assurance and Control Program applied during drill, sampling and analytical works provides a high level of confidence associated with the results
- Results from the program, along with bulk density sample analyses will underpin completion of a revised Mineral Resource Estimate (MRE), expected by mid-Q2 2023
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OBX4IH99
About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.
The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, 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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