Deep Yellow Limited (ASX: DYL) has released a significantly updated Mineral Resource Estimate (MRE) for the Tumas 3 Deposit located in EPL3496 licence in the Erongo Region of Namibia. The deposit is held by Deep Yellow through its wholly owned subsidiary Reptile Uranium Namibia (RUN).
Highlights:
Overall, at a 100ppm eU3O8 cut-off grade, the Tumas 3 Mineral Resource now stands at an Indicated Mineral Resource of 60.6Mlb grading 325ppm, and an Inferred Mineral Resource of 6.2Mlb at 170ppm eU3O8, totalling 66.8Mlb at 300ppm eU3O8.
Tumas 3 Mineral Resource upgraded to 66.8Mlb at 300ppm eU3O8
- Indicated Mineral Resources upgraded to 60.6Mlb at 325ppm eU3O8
- 11% increase in Resource achieved without loss of grade
- Total Indicated Mineral Resources of Tumas MLA increased to 108.5Mlb at 265ppm eU3O8
- MRE upgrade a result of the two-phase 235-hole, 8,017m RC resource and infill drill program completed in September
- Tumas Project successfully advancing towards targeted +30-year Life of Mine (LOM)
The results were boosted by the results from the two-phase RC resource expansion and infill drilling program completed to the west of the Tumas 3 Deposit.
The drilling programme targeted areas west of Tumas 3 and was focused on expanding the current resource toward Tumas 3 West and Tumas Central.
The primary objective of the drill program was to identify additional resources to eventually extend the overall Tumas Project to a +30-year LOM from its current 22.5 years.
Based on this work, the drill program has successfully increased the Tumas 3 Mineral Resource, delivering an 11% uplift in Indicated Mineral Resources to 60.6Mlb at 325ppm eU3O8 using a 100ppm cut-off grade.
The drill program also identified a further 1.2Mlb of Inferred Mineral Resources in the same area.
The Tumas 3 Mineral Resource upgrade, which was a result of the recently completed RC resource and infill drill programme across targeted areas west of the Tumas 3 deposit, has expanded the Indicated Mineral Resource of the deposit and continues the Company’s push towards identifying an additional 25Mlb to achieve a 30+year LOM for the Tumas Project,” Managing Director, John Borshoff, said.
“The Tumas palaeochannel already holds 30Mlb of uranium oxide in the Inferred Resource category which is available for future upgrading to an Indicated Resource status. The results from this program, together with the resource growth potential through future exploration across the Tumas Project area, provide us great confidence that we can deliver on our long-term LOM target at Tumas.”
