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Deep Yellow starts uranium drill program at Tubas  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 01/11/2012

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(MENAFN - ProactiveInvestors - Australia) Deep Yellow Ltd (ASX:DYL) has commenced a reverse circulation drilling program that will enable it to convert its Inferred resource at its Tubas Sand Deposit in Namibia to an Indicated category.

The 8,000 metre drill program will infill two priority areas and is part of the planned Pre-Feasibility Study for the project.

Under the PFS, the company will develop a standalone operation to supply uranium loaded resin to one of the two existing uranium producers in Namibia.

Under the first phase of mine development, Deep Yellow's wholly-owned subsidiary Reptile Uranium Namibia will produce about 500,000 pounds of U3O8 from the low-grade,free digging carnotite bearing red sands. This will be upgraded through physical beneficiation.

The Tubas Sand Project is a low-grade secondary uranium deposit with an Inferred Resource totaling 87 million tonnes at 148 ppm U3O8 for a total of 28.4 million pounds of uranium oxide.

Sampling tests are undertaken to ascertain bulk density for the deposit; assays done for acid consumption and the topography of the deposit surface is surveyed.

The reverse circulation drilling program will likely be completed early in 2013.

 






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