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Deep Yellow Ltd.
Summary
| Project: | Tumas | |
|---|---|---|
| Deposit: | Tumas 3 | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 6/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-6-2017: Deep Yellow Ltd. announces an Exploration/Drilling Update report for its Tumas 3 deposit at the Tumas project. Drilling results incl. 13m @ 664ppm eU3O8 from 7.1m. Deep Yellow Limited (DYL) is pleased to further report on its ongoing drilling p | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Martin Hirsch (Internal) | |
| ABSTRACT: | Deep Yellow Limited (DYL) is pleased to further report on its ongoing drilling program at its Tumas 3 uranium discovery. Encouraging drilling results continue to be received from the 10,000m drilling program currently underway on EPL3496. This tenement is held by DYL’s wholly-owned subsidiary Reptile Uranium Namibia (Pty) Ltd (RUN). A second drill rig has now been deployed to accelerate the drilling progress. Even with this additional extension drilling the Tumas 3 mineralisation still remains open, and further drilling is required to determine the full extent of this new discovery. As previously advised, a second drilling rig has now been deployed to accelerate the program. This drilling continues on a 100m x 100m spacing, sufficient to define a maiden Inferred Resource which is expected to be completed late in the September quarter. The original drill plan targeted the testing of 3km of prospective palaeochannel at Tumas 3. This will now be extended to test a total of 4.5km of this fertile Tumas 3 palaeochannel and is expected to be completed in July. This emerging Tumas 3 discovery occurs as a distinct mineralised zone and at this stage is interpreted to be separate from the uranium resources the Company has identified within the palaeochannels in its Tumas 1 & 2 and Tubas Red Sands/Calcrete deposits (see Figure 1). The palaeochannels extending away from these deposits have only been sparsely drilled along widely spaced regional lines, or have not been subject to drilling. There continues to be significant opportunity for both continuing to extend the Tumas 3 mineralisation and for making further new discoveries within what is now regarded an inadequately tested, highly prospective palaeochannel system 100km in length. | |
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