Deep Yellow Limited (ASX:DYL) in obtaining positive results in its ongoing two-stage, 10,000m follow-up RC drill programme at the Omahola Uranium Project in Namibia.
Omahola comprises the Ongolo, MS7 and Inca basement-related deposits and is located on EPL 3496, held by Deep Yellow through its wholly owned subsidiary Reptile Uranium Namibia (Pty) Ltd.
Uranium Mineral Resources at a 100ppm U3O8 cut-off at Omahola include a Measured, Indicated and Inferred Mineral Resource base total 125.3Mlb at 190ppm U3O8. At a 150ppm U3O8 cut-off the deposits contain a combined 82.9Mlb U3O8 at 269ppm.
Omahola provides Deep Yellow with a compelling exploration opportunity, with potential to develop a Rössing/Husab basement-related operation should sufficient resources be discovered and delineated.
Omahola is located in the highly prospective “Alaskite Alley” corridor, which includes major uranium deposits Rössing, Husab, Etango and Valencia. These deposits contain more than 800Mlb U3O8, with the Rössing mine alone having produced in excess of 200Mlb U3O8.
Regional Prospective Zone (shallow drilling target).
The prospective zone at Omahola extends for ~50km of strike length.
A shallow drilling programmr of 220 holes for 7,426m was completed in late 2021 and tested 16km of this target. 104 holes, or 47% of holes drilled, returned results of >50ppm eU3O8 over 1.0m as advised previously. From orientation studies carried out on drilling over existing basement-related uranium deposits, this threshold was found to be anomalous with regard to identifying potential for discovery of mineralisation at depth. Earlier this year, deep follow-up drilling identified high potential at Inca South.
Continued Shallow Drilling Programme
The second phase of the current two-stage, 10,000m follow-up drill program commenced in September 2022 and by mid-October, 43 holes for 2,950m have been completed. 30 holes remain to be drilled in this programme.
The focus of drilling has been on the southern side of the prospective corridor between MS7 and Inca and to the west of Ongolo South.
Best results from the current shallow drill programme were obtained from a new area two km north of Inca and west of MS7. These intersections include:
- OMH0298: 29m at 189ppm eU3O8 from 33m
- OMH0299: 28m at 190ppm eU3O8 from 36m
These two mineralised drillholes open a new prospective area and extend the fertile zones of the Omahola Project by two km. Downhole OPTV surveys have confirmed the occurrence of thick leucogranite which is the primary host of uranium mineralisation.
Drilling west of Ongolo South targeted a tight fold structure. While the shallow drilling did not intercept mineralisation, it showed abundant leucogranite intrusions. Nearby, one distinct magnetic anomaly was targeted with hole OMH0309 and yielded intermittent mineralisation with best intercepts of:
- 2m at 282ppm eU3O8 from 10m
- 3m at 211ppm eU3O8 from 22m
- 5m at 285ppm eU3O8 from 72m
- 8m at 418ppm eU3O8 from 149m
Lithological logging confirmed semi-massive magnetite and biotite alteration within gneisses of the Khan formation and leucogranites.
The drill programme is continuing to test the prospective zone between MS7, Inca and Inca South.
Shallow drilling of the prospective zone at Omahola will be carried out to cover a further three km of untested strike length. This programme is planned to be finalised during Q4 of CY22.
Resource Definition Drilling on Existing Basement Deposits
One deep RC hole (OMH0282) and two diamond core holes (OMH0276 and OMH0277) targeted depth extensions and closing gaps at Ongolo. All three drillholes intersected mineralised leucogranites with typical grades of ~100ppm – 400ppm eU3O8.
Drilling also confirmed the continuity of mineralisation at depth, similar to the previously reported results from the MS7 deposit.
