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Deep Yellow Ltd.
Summary
| Project: | Tubas-Tumas | |
|---|---|---|
| Deposit: | Tubas-Tumas | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 5/12/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-5-2020: Deep Yellow Ltd. announces a Resource Estimation report for its Tubas-Tumas deposit at the Tubas-Tumas project. Updated Mineral Resource Estimate for Project. Uranium developer Deep Yellow Limited (ASX: DYL) (Deep Yellow) is pleased to announce | |
| Resources: | (Resources, Total): 108.2Mt @ 324ppm U3O8 at Tumas | |
| CP/QP: | [Resource]: Martin Hirsch (Reptile Mineral Resources (Pty) Ltd.) | |
| ABSTRACT: | Uranium developer Deep Yellow Limited (ASX: DYL) (Deep Yellow) is pleased to announce an updated Mineral Resource Estimate (MRE) at the Tumas 3 deposit, located on EPL3496 in Namibia. The deposit is held by Deep Yellow through its wholly owned subsidiary Reptile Uranium Namibia (Pty) Ltd (RUN). See Figure 1. In March 2020 the Company completed a 3-month, 246 hole (5,154m), resource infill RC drilling program covering the central zone of the Tumas 3 deposit (see Figure 2) as reported on 2 April 2020. The targeted area contained 25Mlb of Inferred Resources grading 381ppm eU3O8 using a 200ppm cut off. The primary goal of the drilling program was to convert approximately 50% of the total Inferred Resource at Tumas 3 (33.1Mlb) to Indicated Resource status (about 15Mlb to 17Mlb), an increase considered sufficient to support the Tumas 3 Pre-Feasibility Study (PFS) which is currently underway. Pleasingly, the drilling program at Tumas 3 has successfully converted 96.4% of the Inferred Resource available within the area drilled to an Indicated Resource category, whilst also identifying additional Inferred Resources. | |
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