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Deep Yellow (ASX:DYL) - CEO & Managing Director, John Borshoff - The Market Herald
CEO & Managing Director, John Borshoff
Source: Business News
  • Deep Yellow (DYL) has completed its first phase of reverse circulation (RC) drilling at the Tumas 3 deposit in Namibia
  • Work began on September 7 and as of September 21, 38 holes for 824 metres have been completed
  • Of these 38 holes, 92 per cent returned greater than 100ppm (parts per million) triuranium octoxide, and 79 per cent returned greater than 200ppm triuranium octoxide
  • Further, results peaked at 5820ppm triuranium octoxide
  • The drilling aimed to collect 1000 kilograms of mineralised material to be used for further metallurgical testing, this has been achieved and samples are expected to be shipped in October for further testing
  • Work is continuing with 52 holes remaining to be drilled
  • Deep Yellow is down 3.13 per cent on the market and shares are trading for 31 cents

Deep Yellow (DYL) has completed its first phase of reverse circulation (RC) drilling at the Tumas 3 deposit in Namibia.

Work is focused on the Tumas 3 deposit to allow for reserve estimation work and to provide additional geological information for the ongoing pre-feasibility study planned for December.

Work began on September 7 and as of September 21, 38 holes for 824 metres have been completed.

Of these 38 holes, 92 per cent returned uranium mineralisation greater than 100ppm (parts per million) triuranium octoxide, and 79 per cent showed uranium mineralisation greater than 200ppm triuranium octoxide.

Best results include seven metres at 5820ppm triuranium octoxide from 14 metres, one metre at 599ppm triuranium octoxide from surface, and five metres at 413ppm triuranium octoxide from eight metres.

The aim was to collect 1000 kilograms of mineralised material to be used for further metallurgical testing.

This has been achieved and samples are expected to be shipped in October for further testing.

Work is continuing with 52 holes remaining to be drilled.

Deep Yellow is down 3.13 per cent on the market and shares are trading for 31 cents at 2:07 pm AEST.


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