Namibia the place to be...Deep Yellow finds extensive high grade uranium mineralisation at Inca Project, Namibia
Deep Yellow Ltd’s(ASX:DYL) wholly owned subsidiary Reptile Uranium Namibia PTY Ltd(Reptile) has advised that drilling at the INCA Project located near toSwakopmund in Namibia has returned wide intersections of uraniummineralisation of around one pound (450 ppm) U3O8 or better at ±200metre depth including exceptionally high grades of up to 3.2% U3O8 over2 metre in hole INCR150.
The style of mineralisation at INCA isbeing classified as a metasomatic – magnetite skarn type which isdistinct and different from the known lower grade alaskite hosteduranium mineralisation and the recently announced higher grade RossingSouth discovery controlled by other companies in the district.
Reptile has been drilling out a portion of the INCA project area since January 2009 as follow-up to its
limitedinitial drilling around the historic Von Stryk iron ore pit (ASX March2008) which returned 115 metre at 229 ppm eU3O8 from 14 metre indiamond drill hole ADM 02. Results from the successful follow-up in thenominally 100 metre deep RC drill programme on 100 by 100 metre centresover an area in excess of four square kilometre in conjunction withAirborne Electromagnetic (AEM) data led to the interpretation of depthpotential for the uranium and magnetite mineralised zone as well as anappreciation of the discovery of a new style of uranium mineralisationfor the area.
The drill holes testing this theory have returnedearly success indicating a zone of mineralisation towardsthe north thatis ten’s of metre thick located approximately 200 metre below surface.XRF chemical assay results from three of the six holes completed todate or in progress include:
- 10 m of 7,293 ppm (or 0.73%) U3O8 from 228 m;
- 59 m of 604 ppm U3O8 from 204 m; and,
- 20 m of 1,734 ppm U3O8 from 206 m.
Theextent of the INCA Deeps mineralisation which is open in all directionswill be tested within the restricted 500 by 350 metre resource blockgrid area and Reptile estimates the drill-out of this area will becompleted by end May. Planned ongoing drilling including diamonddrilling will later fully test the area and depth extent of themineralisation.
Early indications are that extraction of theuranium from the host rock is rapid and efficient using sulphuric acidand suggests +90% recovery of uranium should be possible.
Theresults from these six vertical RC holes confirm a ten’s of metre thickzone of around one pound (450 ppm U3O8) or better per metre from about200 metre below surface. The mineralisation is open in all directionsand at depth as none of the holes intersected the footwall marblemarker horizon within the syncline with all being abandoned beforehanddue to ingress of excess water causing lack of RC hammer penetration.
Presentlythere are 3 RC rigs with deep drilling capacity and one diamond rig(large diameter HQ core) drilling on site. Although most of thedrilling is vertical, some infill angle holes have been completed toallow a better understanding of the style and distribution ofmineralisation and ultimately a JORC Code resource estimation. Althoughthe discovery of the deep mineralisation reported herein will requiredeepening of a number of earlier holes where possible, it is estimatedthat drilling within the 500 by 300 metre area will be completed bylate May or early June pending the ongoing presence of excess waterwhich is slowing drilling progress and may require completion of theprogramme by diamond drilling.