Published on Wednesday Nov 17 2010
Perth, Nov 17, 2010 (ABN Newswire) - Deep Yellow Limited (ASX:DYL) is pleased to announce early success from reconnaissance drilling on new INCA-Type uranium mineralisation targets within the Omahola Project area in Namibia, held and operated by DYL's wholly-owned subsidiary Reptile Uranium Namibia (Pty) Ltd (RUN).
Drillhole INCR388 is a 60 degree 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 11 metres at 1,064 ppm eU3O8 from 84 metres
Target Generation
DYL/RUN embarked on an iterative process of reviewing and interpreting RUN's extensive 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 3 kilometres southwest 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 1 km southwest of INCA. INCA South was drilled as a reconnaissance target in 2008 as an initial test of the extension of uranium mineralisation based on magnetics, and, as previously reported, vertical diamond drillhole INCD15 intersected 27 metres at 1,471 ppm cU3O8 from 39 metres depth. INCA South has yet to be drilled out in detail.
Based on the early success at IT-3 and prior success at INCA South, one RC rig has been dedicated to systematically test the nine other IT targets with reconnaissance lines to determine the potential extent of INCA-Type uranium mineralisation within EPL 3496.
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