Deep Yellow Limited (ASX:DYL) June Quarterly Activities Report
Perth, July 20, 2021 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) 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) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.
The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy.
Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.
Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.
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