Deep Yellow Limited: March Quarterly Activities Report
Perth, Australia - In March Deep Yellow Ltd. (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 Ltd. (ASX:DYL) (OTCMKTS:DYLLF) (Namibian Stock Exchange:DYL) is a specialist differentiated uranium company implementing a new 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. 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.
Source:
Deep Yellow Ltd.
Contact:
John Borshoff Managing Director/CEO T: +61-8-9286-6999 Email: john.borshoff@deepyellow.com.au www.deepyellow.com.au