By Hilary Mare
DEEP Yellow Limited (DYL) has reportedly discovered a new uranium deposit through its 10 000m drilling programme, currently underway at EPL3496, which is held by wholly-owned subsidiary Reptile Uranium Namibia (Pty) Ltd.
The company noted this week that the drilling is approximately 40 percent complete.
DYL Managing Director, John Borshoff, said that the ongoing drilling of the Tumas 3 target zone has delineated additional uranium mineralisation, significantly extending the discovery since it was initially reported in April.
“Of the 144 vertical holes drilled for 3 611m to 15 May, 128 of these holes returned positive results – a very significant 88.9 percent success rate. This drilling has extended the palaeochannel associated mineralisation by 58 percent, to 1.9km from the 1.2km previously reported,” Borshoff said.
“The Tumas 3 mineralisation still remains open, strongly justifying continued drilling and sourcing a second drilling rig to accelerate the programme. Drilling is being conducted on a 100m x 100m spacing, and on program completion… will be of sufficient resolution to estimate a maiden inferred resource in the September quarter,” he said.
Borshoff went on to say that this emerging discovery occurs as a distinct mineralised zone, separate from the uranium resources the company has identified within these palaeochannels in its Tumas 1 and 2 and Tubas Red Sands/Calcrete deposits.
“The palaeochannels occurring away from these deposits have only been sparsely drilled along widely spaced regional lines, leaving opportunity for both continuing the extension of Tumas 3 and for further discoveries within what can now be seen as an inadequately tested, highly prospective palaeochannel of 100km in length.
“The mineralisation at Tumas is essentially blind in nature, with no surface radiometric expression. Apart from the enormous benefit gained from the now more accurately defined palaeochannel systems, resulting from the reinterpretation of the existing airborne geophysical data, to concentrate the exploration effort, actual discovery has only been possible by drilling,” he added. The drilling continues to show that the Tumas 3 mineralisation is not confined to one simple, single channel, but is rather associated with a complex palaeo-drainage system, containing numerous intermingling channels, heading westward toward the ocean. The drilling results indicate that the mineralised portion of the channel widens toward the west.
The company also highlighted that the original plan for the first phase of the current drilling programme was to test a 3km section of the prospective palaeochannel at Tumas 3. To date, only 1.9km has been tested
“However, should the strength and continuity of uranium mineralisation persist beyond the current 3km target zone, this drilling programme will be extended immediately to the west and east, to delineate the full potential of what is emerging as a very significant exploration target. A second drill rig is currently being sourced, in order to accelerate the current programme. Drilling planned on the other targets that have been defined will, accordingly, need to be postponed,” Borshoff noted. DYL is an ASX-listed, Namibian-focused, advanced stage uranium exploration company.
It also has a listing on the Namibian Stock Exchange (NSX. DYL). Deep Yellow’s operations in Namibia are conducted by its 100 percent owned subsidiary Reptile Uranium Namibia (Pty) Ltd.
The company recently completed metallurgical test work and is evaluating fast-track development options for its Tumas Project, which consists of surficial calcrete palaeochannel deposits, which are amenable to physical beneficiation and upgrading techniques.
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