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Deep Yellow Ltd.
Summary
| Project: | Tumas | |
|---|---|---|
| Deposit: | Tumas 3 | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 7/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-7-2018: Deep Yellow Ltd. announces an Exploration/Drilling Update report for its Tumas 3 deposit at the Tumas project. Drilling results incl. 13m @ 708ppm eU3O8 from 15m. Deep Yellow Limited (Deep Yellow) is pleased to report continued encouraging drill | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Martin Hirsch (Internal) | |
| ABSTRACT: | Deep Yellow Limited (Deep Yellow) is pleased to report continued encouraging drilling results from the ongoing Tumas 3 resource extension drilling program carried out on EPL3496, held by its wholly-owned subsidiary Reptile Uranium Namibia (Pty) Ltd. Since the ASX release of 14 April 2018 resource upgrade drilling continued east and west of the Tumas 3 uranium discovery with 190 RC drill-holes for 4,842m to end June 2018. Total drilling on the Tumas palaeochannel for the 6 months ending 30 June 2018 amounted to 10,765m with 363 holes. Figure 1 shows the palaeochannel system and prospect locations. The resource drilling around Tumas 3 targeted further extending the mineralised zone which was delineated from the November 2017 drilling. The latest drilling confirmed additional continuous uranium mineralisation over more than 3km. The Tumas 3 mineralisation, including the newly identified tributaries, now occurs over 10.5km of continuous uranium mineralisation when using a cut-off of greater than 100ppm Equivalent Uranium Oxide (eU3O8) over 1m. This drilling has closed off the mineralisation to the east however remains open to the west, where further drilling is planned later in 2018. Of the total 190 holes drilled since 14 April 2011, 75 returned positive results – a success rate of 40%. The reduced success rate compared to the initial Tumas 3 drilling is caused mainly by the narrower nature of the channel. eU3O8 ppm values as stated herein have been determined internally. The eU3O8 values as shown in Appendix 1 are based on down-hole radiometric gamma logging carried out with a fully calibrated Aus-Log gamma logging system. These results will be validated by a competent geophysicist for the forthcoming resource estimation. Figure 2 shows the drill-hole locations in relation to the Tumas 3 resource. Figures 3 and 4 show cross-sections through the mineralisation east and west of Tumas 3 and highlight the continuous nature of the mineralisation across the channel. The results of the resource drilling are regarded as very encouraging confirming the continuous eastern extension of Tumas 3 and the strong potential of continuation of the uranium mineralisation further to the west, which remains open. | |
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