Nova Uranium

Deep Yellow intersects thick uranium mineralisation at Namibian project

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
Written By Tristan Gray
Originally from Canada, Tris trained as a journalist but early in her career moved into marketing and advertising. Tris now spends her days managing the systems and processes while overseeing all company operations.