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    Deep Yellow uncovers uranium from follow-up drilling at Omahola Project, Namibia

    Deep Yellow (ASX:DYL) reports it has intersected uranium through a stage two 10,000m reverse circulation drilling program at the Omahola Project located in Namibia.

    The second phase of the follow-up drill program commenced in September 2022 and by mid October, 43 holes for 2,950m have been completed and 30 holes remain to be drilled.

    The focus of drilling has been on the southern side of the prospective corridor between the MS7 and Inca deposit and to the west of the Ongolo South deposit.

    Best results from this program were obtained from a new area 2km north of Inca and west of MS7 where intersections recorded include 29m @ 189ppm eU3O8 from 33m in OMH0298, and 28m @ 190ppm eU3O8 from 36m.

    The company reports these 2 mineralised drillholes open a new prospective area and extend the ‘fertile’ zones of the Omahola Project by 2km, and downhole OPTV surveys have confirmed the occurrence of thick leucogranite which is the primary host of uranium mineralisation.

    Drilling conducted west of Ongolo South by Deep Yellow targeted a tight fold structure, and while drilling did not intercept mineralisation, it showed abundant leucogranite intrusions.

    It also reports one magnetic anomaly was targeted with hole OMH309 which yielded intermittent mineralisation with best intercepts of 2m @ 282ppm eU3O8 from 10m, 3m @ 211ppm eU3O8 from 22m, 5m @ 285ppm eU3O8 from 72m, and 8m @ 418ppm eU3O8 from 149m.

    Lithological logging confirmed semi-massive magnetite and biotite alteration within gneisses of the Khan formation and leucogranites.

    Deep Yellow says the drill program is continuing to test the prospective zone between MS7, Inca and Inca South, and shallow drilling of the prospective zone at Omahola will be carried out to cover a further 3km of untested strike length.

    This program is planned to be finalised during Q4 of 2022.

    In late 2021, Deep Yellow completed a shallow drilling program of 220 holes for 7,426m 16km of the 50km prospective zone at Omahola.

    It says 104 holes returned results of over 50ppm eU3O8 over 1m, and from orientation studies carried out on drilling over existing basement-related uranium deposits, this threshold was found to be anomalous with regard to identifying potential for the discovery of mineralisation at depth.

    The Omahola Project comprises the Ongolo, MS7 and Inca basement-related deposits, located near Swakopmund in Namibia.

    The uranium mineral resource at a 100ppm eU3O8 cut-off includes a measured, indicated and inferred mineral resource base total of 125.3Mlb @ 190ppm U3O8.

    At a 150ppm U3O8 cut-off the deposits contain a combined 82.9Mlb U3O8 @ 269ppm.

    The company states Omahola provides Deep Yellow with a compelling exploration opportunity with the potential to develop a Rossing and Husab basement-related operation if sufficient resources are discovered and delineated.

    The project is located in the prospective Alaskite Alley corridor, which includes major uranium deposits Rossing, Husab, Etango and Valencia.

    These deposits contain more than 800Mlb of U3O8 with the Rossing mine alone having produced in excess of 200Mlb U3O8.

    Deep Yellow is an exploration company focused on developing and expanding its projects in Namibia and Australia.

    Its projects include Omahola and Tumas in Namibia, Alligator River in the Northern Territory, and Mulga Rock in Western Australia.

    Harry Mulholland
    Harry Mulholland
    Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.