First results come up positive for Langer Heinrich type uranium mineralisation
Deep Yellow Limited (DYL) announced this week that more drilling currently happening in the Namib Naukluft National Park holds good promise for finding more sizeable uranium deposits.
The first stage of a 10,000 metre drilling plan started last month on EPL3496 and EPL3497 by Deep Yellow’s wholly-owned subsidiary, Reptile Uranium Namibia.
“Deep Yellow Limited is pleased to report encouraging initial drilling results being returned from the site,” the company said in a statement released this week.
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 mineralisations as found on the two sites are calcrete associated and hosted in palaeochannels, 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 palaeochannel zone within Deep Yellow’s 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 mineralisation and this has been validated by gamma down-hole logging of the first 72 holes of the approximately 320 hole programme. This new mineralised zone is located in an area separate from the uranium resources Deep Yellow previously identified and it is within these palaeochannel sites that Tumas 1&2 and Tubas Red Sands/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.
Meanwhile they said that the renewal of the EPL is subject to an agreement with a Namibian Black Empowerment partner with the right to acquire 5% of the project. There are no known impediments to the project beyond Namibia’s standard permitting procedure.
Deep Yellow said that it would refocus its exploration efforts on its RUN project for the discovery of calcrete-associated uranium deposits similar to those that are currently being mined at Langer Heinrich.