Deep Yellow Limited (ASX:DYL) has reported that four holes from Phase 1 follow-up drilling at the Barking Gecko North prospect within its Nova Joint Venture project have intersected uranium mineralisation.
The preliminary results come from a 14-hole 3,500 program which commenced in July and is expected to continue through until September.
Key results include:
- Hole TN258RC
- 8m @ 561ppm eU3O8 from 90m
- 17m @ 465ppm eU3O8 from 178m
- 21m @ 901ppm eU3O8 from 199m
- 5m @ 332ppm eU3O8 from 224m
- 19m @ 254ppm eU3O8 from 234m
- Hole TN257RC
- 16m @ 232ppm eU3O8 from 108m
- 2m @ 322ppm eU3O8 from 223m
- Hole TN256RC
- 6m @ 264ppm eU3O8 from 54m
The company reports that drilling continues to highlight the “highly prospective” nature of Barking Gecko North, with mineralisation open to the southeast/east and at depth.
RC drilling continuing to evaluate the southeast/east extension of this zone
Nova Joint Venture project
The Barking Gecko prospect is located within the Nova Joint Venture project in Namibia.
In November 2016, Deep Yellow executed a joint venture agreement with Japanese Government Agency JOGMEC, covering exploration and development at the Nova Project. JOGMEC completed its earn-in of AUD$4.5 million over a 4 year period to earn a 39.5% interest in Nova.
The joint venture is applying innovative geophysical and geochemical exploration methods and systematic drilling to the discovery of buried mineralisation.
Images: Deep Yellow Limited