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Market:	ASX
Sector:	General Mining
EPIC:	DYL
Latest Price:	0.12 (-4.00% )
52-week High:	0.36
52-week Low:	0.12
Market Cap:	135.42M

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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.

Deep Yellow upgrades Uranium Resource to 21.3m pounds at Namibia Project

Wednesday, July 28, 2010

Deep Yellow (ASX: DYL) has reported an upgrade and expansion of the Mineral Resource estimate at its INCA uranium deposit in Namibia with Indicated Resources doubling to 10 million pounds U3O8 and grade increases to 414 ppm eU3O8.

INCA is part of the Omahola Project controlled by DYL’s wholly-owned subsidiary Reptile Uranium Namibia Pty Ltd (RUN). Total resources at INCA increased by 17% to 16.4 million pounds U3O8 and grade increased by 9% to 436 ppm eU3O8.

The resource upgrade and expansion was limited to the area containing the initial Mineral Resource estimate announced on 22 April, 2010. Resource estimates for mineralised area extensions to the north, east and possibly south are expected later in the September Quarter.

Patrick Mutz, managing director, said overall the Omahola Project Mineral Resource estimate increased to 21.3 million pounds U3O8 and further underpins Pre-Feasibility Study being conducted by SNC-Lavalin.

Since the time the initial resource drilling was completed, additional deep reverse circulation (RC) holes were drilled, diamond tails were completed on select holes, and downhole directional survey data was collected and processed.

This new information was provided to The MSA Group of South Africa (MSA) to allow MSA to complete an updated Mineral Resource estimate within the INCA Main Resource Area.

Drilling, geological interpretation and structural interpretation continue, and a further update to the Mineral Resource estimate, to include the extended areas of continuous mineralisation, is expected by Deep Yellow by the end of the September quarter.

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