Uranium Explorer Deep Yellow (ASX: DYL) Continues to Provide Positive Results from Reverse Circulation (RC) Infill Drill Program on Tumas 3 Central Deposit in Namibia with Resource Update Expected Later this month.
The company today announced the completion of the drilling program, which aimed to convert the deposit’s remaining inferred resources to the indicated JORC status and define its periphery to extend the mine life of the definitive feasibility study. (DFS) over 20 years old.
A total of 359 RC holes for 7634 m were completed at Tumas 3 Central at the end of May and work is now progressing at the Tumas 3 West deposit.
According to Deep Yellow, drilling at Tumas 3 Central indicated that expectations for the rate of conversion to indicated resource category were met, with 48% of the 359 holes returning uranium mineralization greater than 100 parts per million uranium equivalent on 1 m and a quarter of the results showing uranium mineralization greater than 200 ppm uranium equivalent over 1 m.
The best intersections included 10 m at 1,945 ppm uranium equivalent from 28 m; 8 m at 2242 ppm from 10 m; 9 m to 1897 ppm from 7 m; 5 m to 1222 ppm from 16 m; and 8m to 754ppm from 16m.
Resource upgrade drilling program
Mineralization at Tumas 3 (comprising the Central, West and East deposits) occurs as a discrete mineral deposit separate from other deposits discovered so far in the highly uranium-fertile Tumas paleochannel system, including Tumas 1 , Tumas 2 and the red sand / calcret of Tubas deposits.
The Deep Yellow infill drilling program is currently continuing at the Tumas 3 West deposit, with the main objective of the overall program being to extend the mine life as defined in the pre-feasibility study from 11.5 years to over 20 years.
Once this drilling is complete, a new mineral resource estimate will be undertaken at the Central, East and West deposits with a release date slated for late June.
A final phase of drilling is then planned for the Tumas 1 East deposit, which will be followed by a new resource estimate for incorporation into the Tumas DFS to allow this consideration of the mine life of more than 20 years.
The DFS ore reserve base will be derived from testing only 60% of the known regional paleochannel system of Tumas. According to Deep Yellow, this means that there is significant exploration potential to increase the resource base beyond that associated with the current DFS footprint with 50 km of channel systems remaining to be tested.