- Deep Yellow (DYL) has received positive results from a recently completed infill drilling program at its Tumas 3 deposit in Namibia
- Drilling was undertaken to identify enough indicated resources to support a pre-feasibility study that is currently underway at the deposit
- Approximately 85 per cent of the completed holes returned greater than 100 parts per million triuranium octoxide with an average grade of 364 parts per million
- Of these holes, a further 64 per cent returned greater than 200 parts per million triuranium octoxide, grading 568 parts per million
- A small infill drilling program has been planned later on in the year to test the extent of the mineralisation
- Deep Yellow has ended the day 4.55 per cent in the green with shares trading for 21 cents each
Deep Yellow (DYL) has received positive results from a recently completed infill drilling program at its Tumas 3 deposit in Namibia.
Drilling was undertaken to identify enough indicated resources to support a pre-feasibility study that is currently underway at Tumas 3.
The program focused on converting half of the inferred resources to indicated in support of the study.
The 246 hole drilling program, for 5145 metres, began on January 29 and finished on March 24.
Approximately 85 per cent of the holes, 210 holes, returned a result greater than 100 parts per million (ppm) triuranium octoxide with an average grade of 364ppm.
Of these 210 holes, 64 per cent of them, or 157 holes, returned results greater than 200ppm triuranium octoxide, grading 568ppm.
Results have confirmed a significant continuity of uranium mineralisation over a strike length of 2.5 kilometres.
The results have also provided Deep Yellow with a better understanding of the uranium mineralisation that occurs at Tumas 3.
Mineralisation at Tumas 3 remains open and a small infill drilling program has been planned later on in the year to test the extent of the mineralisation.
Downhole logging has indicated the results are adequate enough to achieve the indicated resources target.
Data from this drill program is currently being collected and once evaluated it will be used to produce the resource estimate.
This is planned to be released in mid-May 2020.
Deep Yellow has ended the day 4.55 per cent in the red with shares trading for 21 cents in a $53.87 million market cap.