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Deep Yellow Limited (DYL.AX) June Quarterly Activities Report

·2-min read
Deep Yellow Limited (ASX:DYL)
Deep Yellow Limited (ASX:DYL)

Deep Yellow Limited (DYL.AX) June Quarterly Activities Report

Perth, Australia, July 20, 2021 - (ABN Newswire) - Deep Yellow Limited (ASX:DYL) (HAM:JMI) (OTCMKTS:DYLLF) announce the June Quarterly Activities Report.

HIGHLIGHTS

- Tumas Definitive Feasibility Study progressing well and on schedule for completion in December quarter 2022

- Tumas Project Environmental Impact Assessment Scoping Report delivered to Namibian Government agencies and Mining Licence Application will be submitted by end of July 2021

- Infill resource upgrade RC drilling at Tumas 3 completed in support of the DFS, with 755 holes drilled in the quarter for 14,955m

- Completion of drilling at Tumas 3 West finalises broader Tumas 3 RC infill program with 911 holes completed for 17,679m

- Notable intersections from this program include:

o T3I930 10m at 1,945ppm eU3O8 from 28m
o T3I963 8m at 2,242ppm eU3O8 from 10m
o T3I973 9m at 1,897ppm eU3O8 from 7m
o T3I459 7m at 997ppm eU3O8 from 4m
o T3I756 6m at 688ppm eU3O8 from 17m

- Infill resource upgrade drilling program continuing at Tumas 1 East and expected to be completed late July 2021

- $1.1M annual budget for 2021/22 agreed for Nova JV, with $580,000 approved for 3,500m RC drilling program commenced in July targeting promising results at Barking Gecko

- Deep Yellow strengthens its Board and Executive Management through the appointment of Mr Chris Salisbury as Chairman and Andrew Mirco as Head of M&A

- Deep Yellow added to MSCI Global Market Cap Index

- Strong cash balance of $52.4M at quarter end, with 51M 50c options remaining to be exercised

To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/NAS22H17


About Deep Yellow Limited:


Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) (Namibian Stock Exchange:DYL) is a differentiated, advanced uranium exploration company, in predevelopment phase, implementing a contrarian strategy to grow shareholder wealth. This strategy is founded upon growing the existing uranium resources across the Company's uranium projects in Namibia and the pursuit of accretive, counter-cyclical acquisitions to build a global, geographically diverse asset portfolio. A PFS has recently been completed on its Tumas Project in Namibia and a DFS commenced February 2021. The Company's cornerstone suite of projects in Namibia is situated within a top-ranked African mining destination in a jurisdiction that has a long, well-regarded history of safely and effectively developing and regulating its considerable uranium mining industry.

Contact:

John Borshoff
Managing Director/CEO
T: +61-8-9286-6999
Email: john.borshoff@deepyellow.com.au
www.deepyellow.com.au

Source:
Deep Yellow Limited

Copyright (C) 2021 ABN Newswire. All rights reserved.

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