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Most recent drilling results at Tumas 3 point to significant uranium mineralisation

Most recent drilling results at Tumas 3 point to significant uranium mineralisation

Deep Yellow Limited recently announced encouraging results from the 10,000 metre drilling programme currently underway on EPL3496, held by its wholly-owned subsidiary Reptile Uranium Namibia. Uranium explorer Deep Yellow is listed on the Namibian Stock Exchange.

In a Stock Exchange News Service announcement this week, Deep Yellow said that the ongoing drilling of the Tumas 3 target zone has delineated additional uranium mineralisation, significantly extending the discovery since it was initially reported in April.

“Of the 144 vertical holes drilled for 3611m to 15 May 2017, 128 of these holes returned positive results – a very significant 88.9% success rate. This drilling has extended the palaeochannel associated mineralisation by 58% to 1.9 km from the 1.2 km previously reported,” according to the SENS statement.

“The Tumas 3 mineralisation still remains open, strongly justifying continued drilling and sourcing a second drilling rig to accelerate the programme. Drilling is conducted on a 100m x 100m spacing [grid] and on programme completion, will be of sufficient resolution to estimate a maiden inferred resource in the September quarter,” Deep Yellow added.

According to the company, this emerging discovery occurs as a distinct mineralised zone separate from the uranium resources they identified within these palaeochannels in its Tumas 1 & 2 and Tubas Red Sands/Calcrete deposits.

“The palaeochannels occurring away from these deposits have only been sparsely drilled along widely spaced regional lines, leaving opportunity for both continuing the extension of Tumas 3 and for further discoveries within what can now be seen as an inadequately tested, highly prospective palaeochannel of 100 km in length,” they said.

Meanwhile, the company concluded that the continuing positive drilling results from Tumas 3 again reinforce the strongly held belief of the new management and technical team that the palaeochannels occurring within the RUN held tenements present a valid and significant regional exploration target.

“These new positive results, together with approximately 100 km of prospective palaeo-drainage identified as still to be tested, provide management with increasing confidence that the existing uranium resource base within the Reptile project area can be increased,” they said.

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Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.

Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.