Total
0
Shares
Source: Deep Yellow.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Uranium developer Deep Yellow (DYL) updates its mineral resource estimate (MRE) for the Tumas 1 East deposit in Namibia
  • The updated MRE calculates an indicated mineral resource of 19.6 million pounds at 245 parts per million triuranium octoxide
  • Notably, there is further potential has 65 per cent of existing Tumas 1E mineral resource has been tested
  • On the market, Deep Yellow is up 2.48 per cent and trading at 82.5 cents per share

Deep Yellow (DYL) has updated its mineral resource estimate (MRE) for the Tumas 1 East deposit in Namibia.

Last month, the uranium developer successfully completed a reverse circulation drilling program at the Tumas 1E deposit.

The updated MRE has delivered a maiden resource indicated mineral resource of 19.6 million pounds at 245 parts per million triuranium octoxide.

Notably, there is further potential has 65 per cent of existing Tumas 1E mineral resource has been tested.

Deep Yellow said the success of Tumas drilling program has boosted its confidence in achieving a 20-year mine life.

Managing Director John Borshoff said the results demonstrate “the great potential of Tumas to develop into a tier-one uranium deposit”.

“We are delivering continued value and growth through targeted exploration and development,” he said.

“The large amount of inferred and indicated resources that have been identified through the latest program […] provides the team with great confidence that we have identified enough resources to proceed with evaluation of a 20+ year life of mine operation in the Tumas DFS.”

On the market, Deep Yellow shares were up 2.48 per cent and trading at 82.5 cents per share at 12:21 pm AEST.

DYL by the numbers
More From The Market Herald
Bulletin Resources (ASX:BNR) - Chairman, Paul Poli

" Bulletin Resources (ASX:BNR) confirms spodumene at Ravensthorpe

Bulletin Resources (BNR) has confirmed the presence of spodumene at the Deep Purple and Creek pegmatite outcrops.
M3M Mining (ASX:M3M) - Executive Director, Simon Eley

" M3M Mining (ASX:M3M) identifies high-priority targets at Edjudina

M3M Mining (M3M) has identified multiple high-priority gold targets at the Edjudina Gold Project in Western Australia.
Bellevue Gold (ASX:BGL) - Managing Director, Steve Parsons

" Bellevue Gold (ASX:BGL) completes $200m loan facility

Bellevue Gold (BGL) has executed a project loan facility totalling $200 million with Macquarie Bank (MGQ).

" E79 Gold Mines (ASX:E79) kicks off drilling at Laverton South

E79 Gold Mines (E79) has kicked off its maiden drilling program over its Laverton South Gold Project in Western Australia.