Join our daily newsletter At The Bell to receive exclusive market insights
- Deep Yellow (DYL) intercepts thick mineralisation at the Barking Gecko North Prospect in Namibia
- Drilling began on July 12 with 14 holes planned to test extensions of the mineralisation
- Four holes have been drilled to date with a peak grade of 561 parts per million triuranium octoxide intersected
- Once all results have been received, Deep Yellow will undertake phase two drilling
- Shares in Deep Yellow are down 2.19 per cent on the market and are trading at 67 cents at 2:40 pm AEST
Deep Yellow (DYL) has intercepted thick mineralisation at the Barking Gecko North Prospect in Namibia.
Barking Gecko is part of the Nova Joint Venture Project which is held between Deep Yellow’s subsidiary Reptile Mineral Resources and Exploration and three other parties.
Drilling began on July 12 with 14 holes, for 3500 metres, planned to test extensions of the mineralisation.
As of July 25, four holes, for 1012 metres, had been drilled and Deep Yellow is highly encouraged by the results as all holes intersected uranium mineralisation.
Best results come from hole TN258RC where an intersection of 21 metres at 901 parts per million (ppm) triuranium octoxide from 224 metres was returned.
Other results include eight metres at 561ppm triuranium octoxide from 90 metres, 17 metres at 465ppm triuranium octoxide from 178 metres, and five metres at 332ppm triuranium octoxide from 224 metres.
These results continue to highlight the prospectivity of Barking Gecko with mineralisation remaining open to the southeast, east and at depth.
Once all results have been received, Deep Yellow will undertake phase two drilling.
Shares in Deep Yellow were down 1.46 per cent on the market and were trading at 67.5 cents at 2:19 pm AEST.
