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Deep Yellow Ltd.
Summary
| Project: | Tumas | |
|---|---|---|
| Deposit: | Tumas 3 | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 7/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-7-2017: Deep Yellow Ltd. announces an Exploration/Drilling Update report for its Tumas 3 deposit at the Tumas project. Drilling results incl. 7m @ 635ppm eU3O8. Deep Yellow Limited (DYL) is pleased to report continued encouraging drilling results from | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Martin Hirsch (Internal) | |
| ABSTRACT: | Deep Yellow Limited (DYL) is pleased to report continued encouraging drilling results from the final phase of the ~10,000m drilling program carried out on EPL3496, held by DYL’s whollyowned subsidiary Reptile Uranium Namibia (Pty) Ltd (RUN). The drilling program at Tumas 3 was completed 1 July 2017 with 400 RC holes for 10,545m drilled. The latest drilling of the target zone has delineated additional uranium mineralisation, extending the discovery even further since last reported (see DYL ASX announcement 22 June 2017) by an additional 1.2km length to a total of 4.4km. Of the total 400 holes drilled 284 returned positive results – an overall 71% success rate. Equivalent uranium oxide (eU3O8) values have been determined for all 400 holes completed in the program. Although the mineralisation at the western margin of the drilled area has narrowed compared to the central mineralised zone, the Tumas 3 mineralisation still remains open to the west and east, strongly justifying future extension drilling. Drilling has been conducted on a 100m x 100m spacing and is considered sufficient to define a maiden inferred resource, which is expected late in the current quarter. The Tumas 3 discovery occurs as a distinct mineralised zone separate from the known uranium resources the Company has identified elsewhere within these palaeochannels in its Tumas 1 & 2 and Tubas Red Sands/Calcrete deposits (see Figure 1). The palaeochannels occurring away from these deposits and Tumas 3 have only been sparsely drilled along widely spaced regional lines with large sections completely untested. This leaves abundant opportunity both for continuing to determine the full extent of Tumas 3 and for making further discoveries within an insufficiently tested, highly prospective palaeochannel system of 100km in length. | |
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