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Market:ASX
Sector:General Mining
EPIC:DYL
Latest Price: 0.06  (-7.46% Descending)
52-week High:0.22
52-week Low:0.06
Market Cap:69.97M
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Deep Yellow

Deep Yellow (ASX: DYL) is an Australia-based pure uranium explorer with extensive operations in the southern African nation of Namibia and in Australia. The company's primary focus is in Namibia where its operations are conducted by its 100% owned subsidiary Reptile Uranium Namibia.

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Deep Yellow hits uranium in JORC Resource drilling in Namibia

Monday, January 31, 2011
Deep Yellow hits uranium in JORC Resource drilling in Namibia

Deep Yellow (ASX: DYL) has confirmed some significant uranium mineralisation from the company's JORC resource drilling campaign at the Ongolo Alaskite project in Namibia.

Near surface and deeper highlights include:

- 16 metres at 400 parts per million (ppm) uranium from 25 metres;
- 10 metres at 400 ppm uranium from 94 metres;
- 18 metres at 939 ppm uranium from 118 metres;
- 41 metres at 496 ppm uranium from 164 metres; and
- 28 metres at 590 ppm uranium from 153 metres.

Highlighting the near surface potential of the discovery, uranium mineralisation at Ongolo comes to within 20 metres of surface.

The uranium mineral is primarily uraninite, and where present at grades of greater than 500 ppm, is marked by the presence of significant visible smokey quartz and, frequently, biotite.

Assay results received by mid-March 2011 will be included in the planned initial JORC Code resource due by the end of the first quarter.

Exploration is continuing at pace, with five reverse circulation rigs and one diamond rig currently drilling at Ongolo.

 

 

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