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Deep Yellow Ltd.
Summary
| Project: | Tumas | |
|---|---|---|
| Deposit: | Tumas 3 | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 4/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-4-2017: Deep Yellow Ltd. announces an Exploration/Drilling Update report for its Tumas 3 deposit at the Tumas project. Drilling results incl. 6.15m @ 929cps from 4.1m. Deep Yellow Limited (DYL) is pleased to report encouraging initial drilling results | |
| Resources: | (Resource, Total): 32.1Mlb U3O8 contained at Calcrete Properties | |
| CP/QP: | [Overall Report]: Martin Hirsch (Internal) | |
| ABSTRACT: | Deep Yellow Limited (DYL) is pleased to report encouraging initial drilling results being returned from the first stage of a 10,000m drilling program that commenced in March 2017 on EPL3496 and EPL3497, held by DYL’s wholly-owned subsidiary Reptile Uranium Namibia (Pty) Ltd (RUN). The new target zone being drilled, referred to as Tumas 3, was interpreted to be prospective for further calcrete associated uranium mineralisation and this has been validated by gamma down-hole logging of the first 72 holes of the approximately 320 hole program. This new mineralised zone is located in an area separate from the uranium resources the Company has previously identified within these palaeochannels in its Tumas 1&2 and Tubas Red Sands/Calcrete deposits (see Figure 1). All targets lie within the 120km of the prospective palaeochannel held within DYL’s Namibian tenements considered to hold potential for Langer Heinrich style uranium mineralisation. These initial positive drilling results from Tumas 3 reinforce the strong held belief of the new management and technical team that the palaeochannels that occur within the DYL held tenements present a valid and significant regional exploration target. These palaeochannels are largely untested to the degree required outside the currently known Tumas 1&2 and the Tubas Red Sands/Calcrete uranium deposits. These results, together with approximately 100km of prospective palaeo-drainage identified still to be tested, provide management with increasing confidence that the existing uranium resource base within the project area can be increased. | |
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