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Deep Yellow Ltd.
Summary
| Project: | Tumas | |
|---|---|---|
| Deposit: | Tumas | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 3/27/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-3-2019: Deep Yellow Ltd. announces a Resource Estimation report for its Tumas deposit at the Tumas project. Updated mineral resource estimate at the project. Deep Yellow Limited (ASX: DYL) (Deep Yellow) is pleased to announce an updated Mineral Resourc | |
| Resources: | (Resource, Total): 86.6Mt @ 352ppm U3O8 | |
| CP/QP: | [Resources]: Martin Hirsch (Reptile Mineral Resources and Exploration Pty Ltd.) | |
| ABSTRACT: | Deep Yellow Limited (ASX: DYL) (Deep Yellow) is pleased to announce an updated Mineral Resource Estimate (MRE) for the Tumas 1, 2 and 3 deposits which, at a 200ppm eU3O8 cut-off now contains 67.4Mlb of Measured, Indicated and Inferred Mineral Resources at 352ppm eU3O8. This represents an increase of 51% from the MRE announced to the ASX on 11 July 2018. These deposits occur on EPLs 3496 and 3497, held by the Deep Yellow 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. A four-month resource extension RC drilling program was completed in December 2018, testing areas immediately east of the Tumas 1 deposit and west of Tumas 3 deposit (see Figure 1). This work also included some limited infill drilling within the Tumas 1 and 2 deposits. Drilling extended the mineralised Tumas paleochannel system in this area by 8.4km and delineated extensive uranium mineralisation therein. Of the 346 RC holes drilled for 5,599m during this campaign, 221 holes returned positive results – an overall 64% success rate. | |
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