(MENAFN- ProactiveInvestors - Australia) Deep Yellow (ASX:DYL) has confirmed its recent high grade Uranium intercepts from its Ongolo Alaskite resource drilling program at the Omahola project in Namibia following fusion XRF chemical assay.
The results continue to outline the mineralisation open to depth within the central sector of the deposit and have returned intercepts including 5 metres at 480 parts per million (PPM) U3O8; 9 metres at 3,158 ppm, 6 metres at 849 ppm and 12 metres at 2,214 ppm, among others.
The reverse circulation and diamond drilling programme has restarted with a resource update expected early February. The company aims to make significant resource expansion this year to ensure that it achieves its short term project resource objective of at least 50 million pounds U3O8 with grades will in excess of 400 ppm U3O8.
Deep Yellow's flagship Omahola Project is currently under pre-feasibility study with concurrent resource drill-outs on the high grade Ongolo Alaskite â€" MS7 trend.
It is also evaluating a stand-alone project for its Tubas Sand uranium deposit utilising physical beneficiation techniques it successfully tested in 2011.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.