- Deep Yellow (DYL) commences phase one drilling program at the Omahola Project in Namibia
- The program includes 39 holes for 4900 metres and is expected to be fully completed by June
- Drilling is targeting the Ongolo, MS7 and Inca uranium deposits
- A two-stage, 10,000m RC drill program has been developed to follow up the successful shallow drill program completed in late 2021
- Deep Yellow last traded at 85 cents per share
Deep Yellow (DYL) has commenced its phase one drilling program at the Omahola Project, located in Namibia.
The program is two stages and includes 39 holes for 4900 metres, which is expected to be fully completed by June.
A two-stage, 10,000m RC drill program has been developed to follow up the successful shallow drill program completed in late 2021
Results from the 2021 drilling program found three follow-up targets requiring testing for
possible extension of the Ongolo deposit and testing anomalous zones west of MS7 and south of Inca.
Omahola Project includes the Ongolo, MS7 and Inca uranium deposits and is located on the highly prospective Alaskite Alley corridor, which includes major uranium deposits.
Last month, Deep Yellow said it is on track to complete a definitive feasibility study for development of its Tumas uranium project, in Namibia, by the second half of 2022.
The first phase of the DFS work has been mostly completed, which includes an ore reserve expansion, mining licence application, environmental impact assessment and detailed metallurgical test work.
Just before the market opens for the morning, Deep Yellow last traded at 85 cents per share.