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    Deep Yellow Limited reports successful drilling results at Barking Gecko

    Deep Yellow Limited (ASX: DYL) announced the successful completion of the follow-up RC drilling at the Barking Gecko prospect within the Nova Joint Venture project (NJV) in Namibia, aimed at testing extensions of the uranium mineralisation discovered in 2020.

    The company reported that eight of nine holes intercepted uranium mineralisation. Best intersections included 14m at 404ppm eU3O8 from 81m (including 4m at 1,067ppm eU3O8 from 85m); and 10m at 177ppm eU3O8 from 77m.

    DYL also reported the discovery of two prospective zones, Barking Gecko North, and Barking Gecko South, with mineralisation open to the southeast/east and at depth.

    The company said that investigations will continue to follow up positive results.

    Nova Joint Venture project

    Nova Energy (Namibia) (Pty) Ltd – (NJY) is an incorporated joint venture having the following partners – Reptile Mineral Resources & Exploration (Pty) Ltd (RMR) – Manager; Nova Energy (Namibia) (Pty) Ltd; and Sixzone Investments (Pty) Ltd.

    In March 2017, Deep Yellow signed a landmark Joint Venture agreement with Japan Oil Gas and Metals National Corporation (JOGMEC), the minerals investment arm of Japan’s government.

    Follow-up RC drilling at Barking Gecko

    The company had recently commenced follow-up RC drilling at the Barking Gecko prospect (EPL3669), part of the Nova Joint Venture project (NJV) in Namibia.

    The drilling program comprised 13 holes for a total of 3,211m and focused on testing extensions of the mineralisation discovered in 2020. The follow-up RC drilling at Barking Gecko was completed on 30 March 2021, with 9 holes totalling 2,210m completed between 11 February and 30 March 2021.

    DYL has now reported the drill results from RC holes TN247RC, TN248RC, TN249RC, TN250RC, TN251RC, TN252RC, TN253RC, TN254RC, and TN255RC.

    Encouraging drilling results

    The company reported that eight of nine holes intercepted uranium mineralisation highlighted by hole TN253RC. DYL said that holes TN250RC, TN252RC, and TN254RC intersected uranium mineralisation hosted in alaskitic dykes

    Best intersections included TN253RC: 14m at 404ppm eU3O8 from 81m (including 4m at 1,067ppm eU3O8 from 85m); 45m at 222ppm eU3O8 from 120m; 6m at 270ppm eU3O8 from 196m; and 15m at 168ppm eU3O8 from 206m; TN250RC: 13m at 126ppm eU3O8 from 165m; and 8m at 235ppm eU3O8 from 199m; and TN254RC: 10m at 177ppm eU3O8 from 77m.

    All significant mineralised eU3O8 intersections are as shown below.

    Discovery of two prospective zones

    DYL announced that the results of the 13 holes on the NJV Barking Gecko Prospect led to the discovery of two prospective zones, Barking Gecko North and Barking Gecko South, with mineralisation open to the southeast/east and at depth.

    The company said that the size of the area estimated at Barking Gecko South is 4km by 0.5km and the results indicate the potential for continuation of the mineralisation to the northwest and southeast. Meanwhile, the size of the area estimated at Barking Gecko North is 2km by 1 km and results indicate the potential for continuation of the mineralisation to the east, southeast, and at depth.

    DYL said that further drilling is planned for the second half of 2021 to test the extension of the mineralisation in both areas.

    Fulfilment of the earn-in obligation

    DYL reported that Japan Oil Gas and Metals National Corporation (JOGMEC) has completed its 39.5% earn-in obligation through expenditure of A$4.5M with the NJV equity holdings. After fulfilment of the earn-in obligation in September 2020, equity distribution in the Nova JV is now as follows.

    Reptile Mineral Resources & Exploration (Pty) Ltd Subsidiary of Deep Yellow Limited – 39.5% (and Manager); Japan Oil, Gas and Metals National Corporation (JOGMEC) – 39.5% (right to equity); Nova Energy (Africa) Pty Ltd Subsidiary of Toro Energy Ltd – 15%; and Sixzone Investments (Pty) Ltd Namibia – 6% (carried interest).

    What’s next?

    Deep Yellow announced that further exploration drilling work is planned on EPL3669 for both alaskite and palaeochannel targets that reported positive results

    Image Source: Deep Yellow Limited

    Jonathan Norris
    Jonathan is a founder of Mining.com.au and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.

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    • Delayed Prices (USD) - Last Updated 01-07-2022
    • Gold $1,819.00
    • Silver $20.75
    • Platinum $916.00
    • Palladium $1,898.00
    • Dalian Iron Ore i2209 $121.63
    • Aluminium $2,491.00
    • Cobalt $72,460.00
    • Copper $8,365.50
    • Lead $1,971.00
    • Nickel $23,158.00
    • Tin $26,800.00
    • Zinc $3,333.00