Deep Yellow Limited: June Quarterly Activities Report
Perth, Australia - Deep Yellow Ltd. (ASX:DYL) (FRA:JMI) (OTCMKTS:DYLLF) announce the June Quarterly Activities Report with the following significant highlights.- Pre-Feasibility Study test work at the Tumas Project using RC sample material, delivered highly encouraging results equal to or better than assumptions used in the Scoping Study
o Further metallurgical test work using representative Tumas 3 diamond core sample material validated the excellent RC sample results
- Successful infill drilling at Tumas 3 delivered a remarkable, almost 100% conversion of the Inferred Resource to an Indicated Resource category, with overall resources at Tumas 3 now 36.8Mlb at 328ppm comprising:
o Indicated Resources of 24.1Mlb at 313ppm eU3O8; and
o Inferred Resource of 12.7Mlb at 358ppm eU3O8
- The total Measured and Indicated Resource at Tumas 1, 2 and 3 stands at 37.2Mlb at 337ppm eU3O8, well above what is required for completion of the Tumas Pre-Feasibility Study
POST-QUARTER
- Breakthrough results from the Nova JV drill program, intersecting zones of thick uranium mineralisation in basement targets
- Seven holes completed with all holes intersecting mineralisation. Grades and thickness improving to the north. Best intersections included:
o TN236RC - returned a cumulative downhole thickness of 44m, Specifically:
- 2m at 385ppm eU3O8 from 32m
- 10m at 326ppm eU3O8 from 63m
- 24m at 297ppm eU3O8 from 139m
- 8m at 216ppm eU3O8 from 164m
o TN237RC
- 10m at 305ppm eU3O8 from 64m
- 2m at 339ppm eU3O8 from 113m
- The highly promising results indicate that the 4km by 1km Barking Gecko prospect is part of a larger mineralised system, which includes basement-related deposits in the adjacent 100% owned Reptile Project, defining an 18km zone of very high uranium prospectivity.
To view the full report, please visit:
https://abnnewswire.net/lnk/N191LTCF
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