Deep Yellow Limited (ASX: DYL) has released a significantly upgraded Mineral Resource Estimate (MRE) for the Angularli deposit, which forms part of the Alligator River Project in Australia’s Northern Territory.
This 27% uplift, compared to the previous MRE, was underpinned by a drilling programme completed in late 2022 which successfully extended the footprint of the Angularli deposit and associated analytical programmes.
Highlights
- The Angularli MRE has increased to 32.9Mlb U3O8, for 1.37Mt at 1.09% U3O8, using a cut- off grade of 0.15% U3O8.
- MRE shows relative insensitivity to cut-off grade, still increasing to 31.5Mlb at a grade of 1.30% U3O8 representing a 21.5% increase even when the cut-off grade is doubled to 0.3%; and
- Results confirm the high-grade nature of the Angularli deposit.
- MRE upgrade supported by 18 diamond holes completed in 2022, in addition to 30 historical diamond drill holes, with a best intercept of 41.5m at 2.93% U3O8.
- Successful work at Angularli continues to grow Deep Yellow’s geographically diversified uranium portfolio, which includes the flagship Tumas Project and Omahola (Namibia) and the Mulga Rock Project (Western Australia).
Overview
Angularli is located approximately 380km by road, east-northeast of Darwin in the Northern Territory, Australia.
Located in a high-angle shear zone, Angularli hosts an Inferred MRE of 1.37Mt at 1.09% U3O8, containing 32.9Mlb U3O8, at a cut-off grade of 0.15% U3O8 occurring within a combination of altered sandstone, quartzite, silica flooded breccia and schists.
The MRE upgrade is supported by 18 diamond holes completed in 2022, in addition to 30 historical diamond drill holes, with a best intercept of 41.5m at 2.93% U3O8, recorded in hole WRD0084.
The final MRE dataset utilised 12 of the recently completed drill holes in conjunction with 22 historical drill holes.
The primary focus of the 2022 drill programme was to identify up-dip extensions of mineralisation associated with the Angularli deposit.
The Angularli deposit comprises multiple stacked lenses, with the main lens accounting for approximately 95% of the total volume of the MRE, the majority of which is either sandstone or silica-flooded breccia hosted.
