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Deep Yellow Ltd.
Summary
| Project: | Nova | |
|---|---|---|
| Deposit: | Barking Gecko | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 7/9/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 9-7-2020: Deep Yellow Ltd. announces an Exploration/Drilling Update report for its Barking Gecko deposit at the Nova project. Drilling results incl. 7m @ 1115ppm eU3O8 from 118m. Deep Yellow Limited (Deep Yellow) is pleased to advise that exploration dril | |
| Resources: | (Resources, M+I+I): 233Mt @ 310ppm U3O8 | |
| CP/QP: | [Overall Report] Katrin Karner (Reptile Mineral Resources (Pty) Ltd.) | |
| ABSTRACT: | Deep Yellow Limited (Deep Yellow) is pleased to advise that exploration drilling at the Barking Gecko prospect (EPL3669) has encountered encouraging uranium mineralisation. Barking Gecko is part of the Nova Joint Venture project (NJV) in Namibia. JOGMEC is earning a 39.5% interest in the NJV through expenditure of A$4.5M within 4 years from the end 2016. Upon completion of the earn-in, the joint venture parties will hold the following equity positions - 39.5% Deep Yellow, 39.5% Joint Venture agreement with Japan Oil Gas and Metals National Corporation (JOGMEC), 15% Toro Energy Limited and 6% Sixzone Investments (Pty) Ltd. As announced in the March Quarterly Report, exploration drilling completed during 2019 on the NJV identified consistent, but narrow (circa 1 to 2m thick), mineralised intersections over a broad area, in a number of sub-vertical alaskite sheets intruding basement rocks. This exploration campaign successfully defined a zone of interest approximately 4km long and 1km wide, in a geologically favourable setting wrapping around a prominent domal feature. This target zone is referred to as Barking Gecko (see figure 1) and is the focus of the current drilling program. | |
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