Maiden mineral resource estimate at Tumas 3 impressive – Deep Yellow
Prospective Australian uranium producer, Deep Yellow Limited (DYL) this week, announced in a report its highly encouraging maiden mineral resource estimate (MRE) for the Tumas 3 discovery which, at a 200ppm eU3O8 cut-off, comprises 23.5Mlb inferred mineral resources at a grade of 382ppm eU3O8.
This deposit occurs on EPL3496, held by the Deep Yellow wholly-owned subsidiary Reptile Uranium Namibia.
In their report DYL said the MRE was undertaken using various cut-off grades using a minimum thickness of 1m and conforms to the 2012 JORC Code of Mineral Resource Reporting. A three month drilling program at Tumas 3 was completed in July 2017.
The report said that the drilling outlined a 4.4km long zone of continuous calcrete uranium mineralisation. Of the total 400 holes drilled (for 10,545m), 284 returned positive results, an overall 71% success rate. Mineralisation remains open both west and east and will be the subject of further drilling.
According to DYL the maiden resource contributes a significant 47% improvement to the existing palaeochannel related mineral resource. “This significantly advances the project toward achieving stated objectives,” they added
Furthermore Tumas 3 remains open and results fully support the high prospectivity of the 100km of palaeochannel target that has been delineated and remains to be tested.
Meanwhile, DYL said a new new 7,500m drill programme funded by JOGMEC is now underway at the Nova JV and drilling will resume on DYL´s 100% owned EPLs in December quarter 2017.