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Deep Yellow Ltd.
Summary
| Project: | Tumas | |
|---|---|---|
| Deposit: | Tumas 1 | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 11/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-11-2018: Deep Yellow Ltd. announces an Exploration/Drilling Update report for its Tumas 1 deposit at the Tumas project. Drilling results incl. 5.0m @ 430ppm eU3O8 from 0m. Deep Yellow Limited (Deep Yellow) is pleased to announce that the current phase o | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Martin Hirsch (Reptile Mineral Resources and Exploration Pty Ltd.) | |
| ABSTRACT: | Deep Yellow Limited (Deep Yellow) is pleased to announce that the current phase of broad delineation drilling in the Tumas 1 East area on EPL3497 has now been completed. Extensive uranium mineralisation has been identified in the Tumas 1 East palaeochannel area within a system of newly defined Tributaries 1, 2, 4 and 5. Resource infill drilling will now start in Tributary 1. EPL3497 is held by Reptile Uranium Namibia (Pty) Ltd (RUN), part of the group of companies wholly owned by Deep Yellow. Since the last drilling update (as reported 17 October 2018) 35 holes have been drilled for 419m between 12 October to 1 November, completing the current phase of the target delineation work in this area. In total 180 RC holes have been drilled in the Tumas 1 East area for 2,173m to broadly test the tributary channels for mineralisation with positive results being returned. Further work will now shift to resource drilling in this area until the end of 2018. A second RC drill rig has also been contracted to begin resource drilling on 5 November over the highly prospective western extension of the Tumas 3 discovery. Figure 1 shows the prospective paleochannel system outline and prospect locations. Broad exploration delineation drilling testing the headwaters east of the Tumas 1 deposit has identified a multipronged channel system comprising, at this stage, 7 tributaries draining into the main Tumas palaeochannel as shown in Figure 2. The 35 holes drilled since 12 October have continued to indicate promising mineralisation, this time in the eastern portion of Tributary 2 (see Figure 3) and in the previously untested Tributary 5 area where a wide mineralised channel has been identified (see Figure 4). This work has Page 3 of 17 considerably expanded the area of high significance for uranium mineralisation. With this work, the drilling has identified a total of 15-16km highly prospective channels available for resource upgrade work. Large portions of Tributary 4 and 5 still remain to be tested to the west of where currently drilled. The interpreted Tributary 6 remains untested. These new results produced intersections in the range of 143ppm U3O8 over 10m (TA165) to 430ppm U3O8 over 5m (TA154). The average thickness of the mineralisation is close to 5m. Drill hole and channel locations are shown in Figure 2. Figures 3 and 4 show drill crosssections through Tributaries 2 and 5 respectively, highlighting the continuity and thickness of mineralisation. | |
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