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.
Deep Yellow (ASX: DYL) has made extensions to the area of uranium mineralisation with ongoing drilling at its INCA deposit in Namibia. INCA is part of the Omahola Project controlled by DYL’s wholly-owned subsidiary Reptile Uranium Namibia Pty Ltd (RUN).
Results from continued drilling have increased the main area of mineralisation to approximately 1,500 x 500 metres and has also identified several additional areas of mineralisation, outside of the main area of mineralisation, scattered across a total area of approximately 4 km2.
Ongoing drilling at INCA, following on from that used in the initial INCA resource estimate, includes reverse circulation (RC) holes and diamond core tails on select holes. The core samples will be used for additional metallurgical testwork.
Outstanding drill intercepts outside the current JORC Code resource area include: 11 m at 2,907 ppm eU3O8 from 39 m in Hole AM1 9200 11.100; 13 m at 1,586 ppm eU3O8 from 44 m in Hole AM1 9200 11.072; 24 m at 1,178 ppm eU3O8 from 40 m in Hole INCD15.
Deep Yellow’s Managing Director Patrick Mutz said “the very positive drilling results coming from INCA continue to reinforce Reptile’s and Deep Yellow’s confidence that the Omahola Project is shaping up to become a viable development project."
"I believe unique aspects of the INCA and Tubas Red Sand deposits make the Omahola Project a project to be watched as it progresses through Pre-Feasibility,” he added.
On 22 April 2010, DYL announced the initial Indicated and Inferred Mineral Resource estimate in accordance with the JORC Code at INCA of 16 M tonnes at 400 ppm eU3O8 for 6,366 tonnes (14 Mlb) eU3O8 (as part the Omahola Project), across an area of approximately 500 x 500 metres.
Results from new drilling within the resource grid area will serve to improve the confidence and potentially expand the initial JORC Code resource estimate, while results from drilling outside and around the initial resource area are expected to increase the overall resource.
The comapny said an expanded JORC Code resource is anticipated in the September Quarter.