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Deep Yellow meets high-grade uranium mineralization in Namibian project

EBR Staff Writer Published 18 November 2010

Australian uranium explorer Deep Yellow (DYL) has reported success from reconnaissance drilling on new INCA-Type uranium mineralization targets within the Omahola Project area in Namibia.

The Namibian Omahola Project is held and operated by DYL's wholly-owned subsidiary Reptile Uranium Namibia (RUN).

Drillhole INCR388 is a 60º angle reverse circulation (RC) drillhole on a line of reconnaissance drilling across magnetic target IT-3, which is the first of 10 such targets recently interpreted within RUN's EPL 3496 to be drill tested.

INCR388 returned a gamma log intercept of 11m at 1,064ppm eU3O8 from 84m.

DYL/RUN embarked on an iterative process of reviewing and interpreting RUN's airborne geophysical data to determine if a 'fingerprint' of the INCA deposit could be identified in the complex magnetic structure at INCA.

The goal was to use that fingerprint to identify other magnetic anomalies for targeted reconnaissance drilling.

This work has led to DYL's geophysical consultants Resource Potentials (Perth) identifying ten priority INCA-Type (IT) targets (IT-1 to IT-10) based on the geophysical signature ('fingerprint') of INCA.

Target IT-3, located 3km south-west of INCA was selected as the first drill target as it was on a continuation of the INCA 'magnetic unit' along a magnetic feature through the previously drilled INCA South Prospect located 1km southwest of INCA.