Deep Yellow Limited: Drilling Commences to Test Highly Prospective Palaeochannels
Perth - Deep Yellow Ltd. (ASX:DYL) (OTCMKTS:DYLLF) (Deep Yellow) is pleased to advise that a 10,000m RC drilling program commenced 12 February 2018 on the Reptile Project within EPLs 3496 and 3497 and held by its wholly-owned subsidiary Reptile Uranium Namibia (Pty) Ltd as shown in Figure 1 (see link below).The drilling has a two-fold focus:
- Assess approximately 40km of the 100km of highly prospective palaeochannel system that has been delineated and remaining to be tested. This system includes the Tumas 3 discovery which was made in 2017. Seven semi-regional target zones have been defined for testing.
- Test the extensions of Tumas 1, 2 & 3 deposits for future resource enhancement.
The target zones isolated for the 2018 drilling investigations are a direct consequence of the successes of the 2017 work on EPLs 3496 and 3497. These positive results confirmed the high prospectivity of the palaeochannels, newly interpreted using the available historic exploration data base with the discovery of the Tumas 3 deposit. Over 100km of channel systems were identified as inadequately tested for Langer Heinrich style calcrete deposits.
Drill line spacing on these priority target zones will be 400 to 800m drilled on 200m intervals. Drilling is expected to be of an average depth of 30 to 40m. This program is expected to be completed by the end of June 2018.
This drilling program is expected to delineate new mineralised areas over the 40km of palaeochannels that will be tested in this phase and some of which may be, if time allows, followed up in the current program.
The drilling program is continuing the exploration push to increase the inferred resource base of the calcrete type uranium mineralisation in palaeochannels towards the target of circa 150Mlb U3O8 in the grade range of 350 to 500ppm U3O8.
To view figures, please visit:
http://abnnewswire.net/lnk/ZWU3G76N
About Deep Yellow Limited:
Deep Yellow Ltd. (ASX:DYL) (OTCMKTS:DYLLF) is a specialist uranium company implementing a new strategy to grow shareholder wealth. This strategy is founded upon growing the existing uranium resources across the Company's uranium projects in Namibia and the pursuit of accretive, counter-cyclical acquisitions to build a geographically diverse asset portfolio.
In parallel to its expansion objectives, the Company has a cornerstone suite of projects in Namibia, a top-ranked African mining destination with a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.
Contact:
Deep Yellow Ltd.
John Borshoff Managing Director/CEO
T: +61-8-9286-6999
F: +61-8-9286-6969
Email: info@deepyellow.com.au
www.deepyellow.com.au
