Deep Yellow Limited: September 2023 Quarterly Activities Report
18.10.2023 | 1:36 Uhr | ABN Newswire
Perth, Australia - Deep Yellow Ltd. (ASX:DYL) (FRA:JMI) (OTCMKTS:DYLLF) is pleased to provide a summary of key activities completed in the September 2023 quarter. TUMAS PROJECT - Two-phase 235-hole, 8,017m RC resource and infill drill program completed - Drilling targeted areas west of Tumas 3, with the objective of expanding the current resource into Tumas 3 West and Tumas Central - Best intersections included o T3I1273: 6m at 721ppm eU3O8 from 22m o T3I1300: 8m at 172ppm eU3O8 from 27m o T3I1408: 4m at 329ppm eU3O8 from 13m o T3I1435: 7m at 378ppm eU3O8 from 27m o T3I1457: 6m at 267ppm eU3O8 from 25m - Results provide a robust platform for progressing Tumas towards a +30-year Life of Mine (LOM) from the current 22.5-year LOM and will be part of continued drilling for resource and reserve upgrades - Metallurgical program indicates improved outcomes from Definitive Feasibility Study (DFS) position, with increased NPV and lower operating costs expected to be realised - Tumas Mineral Resource Estimate upgrade expected in late Q4 2023 MULGA ROCK - 656-hole drill program for 36,647m completed o 423 aircore hole, 21,853m infill drill program to upgrade resource classification for uranium and critical minerals o 233 aircore hole, 14,794m close-space drill program to establish grade variability and provide additional material for metallurgical analysis - Updated Mineral Resource Estimate (MRE) expected in late Q4 2023 and will include both uranium and critical minerals - Ongoing metallurgical testing on to define leaching characteristics of the critical minerals indicate significant value uplift potential - Revised DFS scheduled to commence in 2024, which will incorporate critical minerals recovery CORPORATE - Strong global nuclear resurgence forecast with positive implications for supply demand - Uranium Spot Price movement during the Quarter was substantial as reported by Trade Tech o Up by an impressive US$17.15/lb from US$56.00/lb to US$73.15/lb o Term Price up from US$53/lb to US$62.00/lb - Cash position at end of September 2024 $27.258M - Anticipated additional funds with receipts of approximately $5M expected during FY 2024 relating to claims lodged for R&D reimbursement and loan plan share receivables *To view the detailed quarterly report, please visit: https://abnnewswire.net/lnk/A2QLF4IS About Deep Yellow Limited: Deep Yellow Ltd. (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.
Source: Deep Yellow Ltd. Contact: John Borshoff Managing Director/CEO T: +61-8-9286-6999 E: john.borshoff@deepyellow.com.au W: www.deepyellow.com.au Media: Cameron Gilenko T: +61-466-984-953 e: cgilenko@citadelmagnus.com
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