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Deep Yellow’s drilling results confirm strong uranium potential in Namibia

Latest drilling has confirmed additional uranium mineralisation over more than 3 kilometres.

Tumas drilling
Tumas drilling

Deep Yellow Limited (ASX:DYL) is continuing to receive encouraging uranium results from the ongoing Tumas 3 resource extension drilling program in Namibia.

Strongest intersections from the latest drilling include:

• 7 metres at 366 ppm uranium equivalent from 5 metres;
• 1 metres at 1,096 ppm uranium equivalent from 14 metres; and
• 7 metres at 612 ppm uranium equivalent from 5 metres.

Total drilling on the Tumas palaeochannel for the six months ending 30 June 2018 amounted to 10,765 metres with 363 holes.

Tumas 3 and main prospect locations over palaeochannels

The resource drilling around Tumas 3 targeted further extensions to the mineralised zone which was delineated from the November 2017 drilling.

Significantly, the latest drilling has confirmed additional continuous uranium mineralisation over more than 3 kilometres.

Tumas 3 mineralisation, including the newly identified tributaries, now occurs over 10.5 kilometres of continuous uranium mineralisation.

This drilling has closed off the mineralisation to the east but remains open to the west, where further drilling is planned later in 2018.

Resource updated expected this month

The work to date emphasises the strong exploration potential of the uranium-fertile, extensive palaeochannel system within which the expanding Tumas 3 discovery occurs.

An updated resource estimate to include the recent drilling results is in progress and is expected to be released by mid-July 2018.

A new drilling program with a continued focus on the prospective palaeochannels is planned to start in the middle of July.

This will initially test targets in the east of the S-Bend and Tumas 1 areas followed by more resource drilling west of Tumas 3.

Quick facts: Deep Yellow Ltd

Price: 0.24 AUD

Market: ASX
Market Cap: $58.77 m

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