Deep Yellow ushers rigs to web site for uranium DFS drill out

Headshot of Matt Birney

Deep Yellow has made good on its promise to launch straight right into a definitive feasibility examine, or “DFS” over the Tumas uranium mission in Namibia after not too long ago tabling a pre-feasibility examine on the mission that appears promising.

The corporate has hit the bottom operating at Tumas with a fleet of rigs deploying into the Skeleton Coast terrain trying to drill out the remaining inferred sources with a view to upgrading them to indicated standing.

The corporate can also be hoping so as to add extra worthwhile mineralised tonnes to the mission.

Deep Yellow’s final intention is put greater than 20 years of reserves into it’s burgeoning Namibian stock with over 190 million tonnes of sources already on the books, that could be an achievable aim.

The pre-feasibility examine on Tumas, launched solely this week, flagged a mill throughput fee of three.5 million tonnes every year and with over 40 million tonnes of reserves, or mineable ore already drilled up, Deep Yellow appears to be like to have already banked round 11.5 years of mine life and counting.

The present DFS drilling marketing campaign is scheduled to kick off this week, with an preliminary program of 700 to 800 holes designed to develop over 15,000 metres of drilling that may give attention to the Tumas 1 and Tumas Three deposits. The marketing campaign will look to transform the 51.2 million kilos of uranium oxide sources nonetheless sitting at inferred standing, to measured and indicated, earlier than elevating the varied tonnages into the reserve guide for inclusion within the creating mining schedule.

Deep Yellow’s Tumas uranium mission is situated on Namibia’s coastal strip, 210 kilometres west of the capital of Windhoek and inland from the nation’s deep-water port at Walvis Bay. The Tumas deposits occupy the southern arm of the identical paleochannel system that hosts the famed Langer Heinrich uranium mine, with Deep Yellow having outlined uranium mineralisation alongside greater than 60km of strike by the fertile ephemeral river system.

The uranium mineralisation at Tumas is hosted by near-surface calcrete deposits precipitated within the latest sands and gravels that fill the outdated, dry river-beds which snake their means throughout the coastal desert strip. Uranium has been sourced from the encircling and underlying bedrock, concentrated by sporadic rainfall and ground-waters, precipitating as a uranium and vanadium-rich carbonate mineral generally referred to as carnotite.

The yellow to orange carnotite might be discovered all through the Tumas paleochannel system, nonetheless below sure circumstances it concentrates into giant, shallow financial deposits. The corporate has now recognized greater than 125km of paleochannel inside its mission space, with solely round half of that drainage having been explored in any means.

Many of the exploration work to-date has been focussed throughout the Tumas 1, 2 and three discoveries, inside 25km of the proposed plant web site.

Deep Yellow’s exploration over the previous 3-years has greater than tripled the prevailing useful resource stock at Tumas, with the present 190m tonne useful resource that spreads over the Tumas 1, 2 and three deposits grading at 251 elements per million uranium oxide at a 100ppm uranium cut-off. The useful resource at present hosts over 110 kilos of uranium oxide, with over 52 million kilos prepared to enter the mine plan.

Infill drilling as a part of the PFS work upgraded round 95 per cent of the inferred sources at Tumas 1 and a couple of into the indicated class. The extraordinarily excessive conversion fee from inferred to indicated standing demonstrates a predictability and consistency of grade throughout the uranium deposits which is able to doubtless pay dividends because the DFS takes form and the corporate advances in the direction of mining.

The DFS drilling marketing campaign will start at Tumas Three and goals to transform the greater than 40 million tonnes of shallow inferred sources hosted by that deposit into indicated or measured standing. Drilling is then scheduled to maneuver on to Tumas 1 East, which hosts one other 51 million tonnes of mineralised calcrete that appears ripe for inclusion within the mine.

In reality, Deep Yellow has no scarcity of targets, with different close by sources together with the Tubas Sands and calcrete deposits conveniently situated downstream from Tumas 3.

Exploratory drilling continues to increase the footprints of the Tumas deposits themselves.

Deep Yellow has tucked its Tumas PFS away and appears to have the bit between its enamel now because it avails itself of all the data wanted to make a ultimate funding choice. With the tightening of worldwide provide on the horizon, helped alongside by the worldwide pandemic and the EV revolution, the John Borschoff led Deep Yellow is simply would possibly and up being in the appropriate place on the proper time.

Loads extra to come back from the sands of Namibia.

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