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Deep Yellow Ltd.
Summary
| Project: | Reptile | |
|---|---|---|
| Deposit: | Tumas 1 East | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 11/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-11-2019: Deep Yellow Ltd. announces a Resource Estimation report for its Tumas 1 East deposit at the Reptile project. 34% resource increase at Tumas 1 East. Deep Yellow Limited (ASX: DYL) (Deep Yellow) is pleased to announce an updated Mineral Resource | |
| Resources: | (Resource, Inf.): 35.2Mt @ 319ppm U3O8 at Tumas 1 East | |
| CP/QP: | [Resources]: Martin Hirsch (Reptile Mineral Resources Ltd.) | |
| ABSTRACT: | Deep Yellow Limited (ASX: DYL) (Deep Yellow) is pleased to announce an updated Mineral Resource Estimate (MRE) for the Tumas 1 East deposit (Tumas 1 East), located within the Reptile Project. At a 200ppm eU3O8 cut-off, Tumas 1 East has Inferred Mineral Resources of 24.8Mlb at 319ppm eU3O8, resulting in a 34% increase from the MRE announced in March 2019. Total combined measured, indicated and inferred calcrete resources in the Tumas palaeochannel (Tumas 1E,1, 2, 3 and Tubas Red Sands/calcrete deposits) now stand at 92.5Mlb at 303ppm eU3O8. These deposits occur on EPLs 3496 and 3497, held by Deep Yellow’s wholly owned subsidiary, Reptile Uranium Namibia (Pty) Ltd. The MRE was undertaken using various cut-off grades using a minimum thickness of 1m and conforms to the 2012 JORC Code of Mineral Resource Reporting. Resource extension RC drilling programs, carried out in April, July and August 2019, succeeded in closing off the Tributary 5 deposit (see Figures 1 and 2). This work also included some limited infill drilling within the Tributary 4 channel. Of the total 591 RC holes drilled for 6,281m during the Tumas 1 East drilling campaigns, 291 holes returned positive results, a pleasing overall success rate of 50%. | |
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