|4/20/2017 by mdc|
|Freeman Ngulu reports that Deep Yellow Limited announced that more drilling currently happening in the Namib Naukluft National Park holds good promise for finding more sizable uranium deposits. The first stage of a 10,000 meter drilling plan started last month on EPL3496 and EPL3497 by Deep Yellow wholly-owned subsidiary, Reptile Uranium Namibia.|
According to Deep Yellow, the EPLs which are in good standing and are valid until 05 June this year were originally granted to Reptile Uranium Namibia in 2006. An application for the renewal of the Exclusive Exploration Licences has been submitted to the Ministry of Mines and Energy in March this year.
Deep Yellow stated that the mineralized zones found at the two sites are calcrete associated and hosted in paleochannels, similar to the Langer Heinrich project which is located only 30 km north east of the current drilling sites. All targets lie within the 120 km stretch of the prospective paleochannel zone within Deep Yellow holding. This channel is considered to hold potential for a Langer Heinrich style uranium mineralisation.
The new target zone being drilled, referred to as Tumas 3, was understood to be prospective for further calcrete associated uranium mineralization and this has been validated by gamma down-hole logging of the first 72 holes of the approximately 320 hole program. This new mineralized zone is located in an area separate from the uranium resources Deep Yellow previously identified and it is within these paleochannel sites that Tumas 1&2 and Tubas Red Sands and Calcrete deposits sit, the statement reads.
Equivalent uranium checks are expected by the end of the June quarter, ahead of the deployment of more assets for a new zone planned for September, they added.