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 unveils high grade uranium intersections at Mount Isa
As data begins to emerge about China's uranium buying and the likely firmer uranium prices in 2011, emerging uranium explorer Deep Yellow (ASX: DYL) has announced a timely set of positive intercepts from drilling at its Miranda prospect in the Mount Isa district of Queensland.
DYL’s 2009 Mount Isa drilling program outlined an Indicated and Inferred Mineral Resource of 3.64 million tonnes at 420 ppm U3O8 for 1,540 tonnes (3.4 Mlbs) U3O8 from surface to approximately 200 metre vertical depth at several prospects.
The 2010 drilling programme aimed to fast-track drill several new prospect areas with surface radiometric anomalies and to test a number of previously drilled prospects up to 400 metres vertical depth to determine the potential for continuity of mineralisation at depth.
Patrick Mutz, managing director of Deep Yellow, said the overall strategy was to assess the potential of the Mount Isa prospects to increase total uranium resources.
An RC drilling programme totalling 1,470 metres in 23 holes was completed at the Miranda Prospect within EPM 14281. Shallow drilling returned solid results from surface at Miranda including:
- Hole MRRC020 - 22 metres at 647 ppm U3O8 from surface;
- Hole MRRC022 - 23 metres at 352 ppm U3O8 from 2 metres;
- Hole MRRC023 - 21 metres at 489 ppm U3O8 from 2 metres; and
- Hole MRRC026 - 15 metres at 408 ppm U3O8 from surface.
Follow-up drilling returned high grade intercepts at three Isa West prospects:
Eldorado North: Hole ENRC013 - 25 metres at 479 ppm U3O8 from 139 metres and Hole ENRC014 - 4 metres at 1,134 ppm U3O8 from 122 metres.
Never-Can-Tell: Hole NCRC004 - 10 metres at 693 ppm U3O8 from 71 metres and Hole NCRC006 - 8 metres at 836 ppm U3O8 from 78 metres
Citation: Hole CIRC005 - 16 metres at 564 ppm U3O8 from 58 metres, Hole CIRC007 - 16 metres at 652 ppm U3O8 from 54 metres, Hole CIRC010 - 11 metres at 543 ppm U3O8 from 65 metres and Hole CIRC011 - 12 metres at 421 ppm U3O8 from 144 metres.
The drilling has outlined a 120 metre x 75 metre flat-lying mineralised zone of limited surface extent. Typically the mineralisation thinned at the edges and pinched out at about 50 metres true vertical depth.
Mineralisation potential is interpreted as open to the south-west. No further drilling is planned at the Miranda Prospect area until the programme has been reviewed in detail and the recently acquired aeromagnetic data covering the south-west extension area are interpreted.
The recently completed RC drilling programme at Isa West totalling 17 holes for 2,360 metres successfully extended the higher grade Eldorado North Prospect from approximately 50 metres vertical depth to 120 metres vertical depth.
At the Citation and Never-Can-Tell Prospects infill drilling on shallow 2008 intercepts confirmed both strike extensions to the original drill intercepts and continuity of mineralisation to depth.
These prospects will now form part of a future resource drill out programme.
RC pre-collars for the deep diamond core holes at the Thanksgiving and Bambino Prospect were also completed with core drilling planned to commence in the September quarter.
Field mapping of the extensive ‘un-drilled’ northern tenement area at Isa West is approximately 75% complete. Data from a heliborne aeromagnetic/radiometric survey over the same area has been received and is being processed with a view to generating additional drill targets.
