Deep Yellow (ASX:DYL) - Chairman, Chris Salisbury
Chairman, Chris Salisbury
Source: Deep Yellow
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  • Deep Yellow (DYL) confirms thick and high-grade mineralisation at its Barking Gecko North prospect in Namibia
  • Follow-up drilling from a diamond drill hole has returned cumulative intersections of 118 metres at 352 parts per million (ppm) uranium oxide from eight intersections
  • Deep Yellow says the results from the first two phases of drilling will be integrated to identify optimal positioning of reverse circulation drill holes
  • The next phase of drilling is scheduled for January 24 and results are expected by March
  • Shares are up 1.74 per cent to 87.5 cents at 10:29 am AEDT

Deep Yellow (DYL) has confirmed thick and high-grade mineralisation at its Barking Gecko North prospect in Namibia.

The prospect is part of the Nova Joint Venture with Deep Yellow’s subsidiary, Reptile Mineral Resources and Exploration holding a 39.5 per cent stake.

Results have been received from a diamond drill hole, completed as part of the company’s phase two follow-up drill program following phase one drilling.

In drilling this diamond hole, Deep Yellow sought to acquire critical core sample material for detailed geological and structural logging to clarify the 3D setting of the mineralised zone discovered at the prospect.

After reaching a depth of 266 metres the core returned cumulative intersections of 118 metres at 352 parts per million (ppm) uranium oxide from eight intersections between 75 metres and 265 metres.

Of these intersections, the company noted nine metres at 954 parts per million uranium oxide from 88 metres, and 30 metres at 382ppm from 235 metres.

The company said on early inspection, the core indicates a general southwest-northeast dipping trend of the mineralised intrusion.

The size of the prospective zone containing high grade and thick uranium mineralisation appears to be restricted to 700 metres by 200 metres and Deep Yellow plans to undertake further drilling to test the continuation of the mineralisation.

All results to date will be used to map out reverse circulation drill holes for the next stage of phase two drilling which is scheduled to start on January 24 and results expected by March.

Shares are up 1.74 per cent to 87.5 cents at 10:29 am AEDT.

DYL by the numbers
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