Deep Yellow Limited: EPL3669 and EPL3670 Renewals Approved
03.02.2017 | ABN Newswire
Perth - Deep Yellow Ltd. (ASX:DYL) (OTCMKTS:DYLLF) advises that the Namibian Ministry of Mines and Energy ("MME") have approved the renewal of EPL3669 and EPL3670. Application for renewal was made in August 2015 and a 2 year extension has now been granted to 20 November 2017.These tenements comprise the Nova Energy (Namibia) Pty Ltd Joint Venture in which Reptile Mineral Resources and Exploration (Pty) Ltd (wholly owned subsidiary of DYL) holds 65% (Manager), Nova Energy Africa (Pty) Ltd (wholly owned subsidiary of Toro Energy Ltd.) 25% and Sixzone Investments (Pty) Ltd 10%. The ground is regarded as being highly prospective for uranium in both paleo-channel calcrete associated Langer Heinrich type targets and basement alaskite associated Rossing/Husab type targets.
DYL is confident, that, with ongoing expenditure, these EPLs will be favourably considered for a further 2 years when the time comes for an application for an extension to be submitted to the MME.
About Deep Yellow Limited:
Deep Yellow Ltd. (ASX:DYL) (OTCMKTS:DYLLF) is an ASX-listed, Namibian-focussed advanced stage uranium exploration company. It also has a listing on the Namibian Stock Exchange (NSX.DYL). Deep Yellow's operations in Namibia are conducted by its 100% owned subsidiary Reptile Uranium Namibia (Pty) Ltd.
The Company recently completed metallurgical testwork and is evaluating fast track development options for its Tumas Project which consists of surficial calcrete palaeochannel deposits which are amenable to physical beneficiation and upgrading techniques.
Deep Yellow also holds the Omahola Open Pit Alaskite Heap Leach Project on which value engineering studies are being conducted to supplement the recently completed preliminary economic analysis.
Contact:
Deep Yellow Ltd.
John Borshoff Managing Director/CEO
Phone: +61-8-9286-6999
Email: admin@deepyellow.com.au
www.deepyellow.com.au