Deep Yellow Limited: Drilling Expands Width And Confirms Potential Of Shiyela Magnetite Mineralisation In Namibia
20.07.2010 | ABN Newswire
15:43 AEST July 20, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.Perth, Australia (ABN Newswire) - Deep Yellow Limited (ASX: DYL) (PINK: DYLLF) is pleased to announce initial results from the start of follow-on drilling at its Shiyela Iron Project operated by its wholly-owned subsidiary Reptile Uranium Namibia Pty Ltd (RUN).
Initial results from the first 11 drill holes has served to expand the width of magnetite mineralisation from approximately 100 metres based on mapping of sub-outcropping magnetite, to approximately 400 metres under minimal sand cover, with additional drilling underway to determine the full width of mineralisation.
These results confirm the significance and potential of the magnetite mineralisation highlighted in DYL's ASX announcement dated 16 June 2010, and provide ample impetus to continue with drilling and evaluation of the Shiyela Iron Project.
Follow-on drilling began in late June in the vicinity of the M62 magnetic anomaly where core samples from a previous diamond drill hole (renamed SHID1) were recently evaluated and found to produce a high-grade, low-impurity magnetite concentrate product.
A line of 60 degree angle reverse circulation (RC) drill holes spaced at 50 metres are being drilled across strike in close proximity to original diamond drill hole SHID1. The location of these holes is in a west to east cross-section showing a plot of down hole magnetic susceptibility together with a visual estimate of magnetite content for each hole. Magnetic susceptibility readings have not yet been collected for holes SHIR8 and SHIR9. However, visual estimates of magnetite content in both holes indicates more continuous, massive to semi-massive magnetite intercepts than in previous holes. Original diamond drill hole SHID1 is located 50 metres south of the line between SHIR3 and SHIR4.
Samples from drill hole SHIR2 will be chemically assayed as 5 metre composites to generate a calibration curve for the susceptibility meter.
The magnetite mineralisation is hosted by steeply dipping, fine-grained magnetite-rich metasediments; granite containing coarse magnetite; and, semi-massive to massive magnetite within a predominately granite and metasediment sequence.
An HQ diamond drill hole (SHID2) has commenced between holes SHIR2 and SHIR3, and another is planned between SHIR8 and SHIR9, to allow for more detailed geological interpretation from core samples and to provide samples for additional metallurgical testwork.
Figure 1 (see link at the bottom) is an aeromagnetic map showing total magnetic intensity (TMI), with red representing the highest intensity of magnetism (such as from magnetite) and blue the lowest intensity (such as from barren metasediments).
The preliminary geological evaluation of the area around M62 outlined a broad zone, approximately 100 metre wide, characterised by narrow lenses of SW-oriented massive magnetite.
However, RC drilling has shown the 'magnetite zone' to be at least 400 metres wide and is open to depth and along strike in both directions. A north-south line of RC drilling has also been planned to evaluate Anomaly M63.
For the complete Deep Yellow Limited annoucement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/63347-ASX-DYL-498059.pdf
About Deep Yellow Limited:
Exploration company focussed on advanced gold and uranium projects
Contact:
Patrick Mutz, Managing Director
Deep Yellow Limited
Ph: +61-8-9286-6999
Email: info@deepyellow.com.au
www.deepyellow.com.au