ASX-listed Deep Yellow has announced an updated mineral resource estimate for the Tumas 1, 1 East, Tumas 2 and Tumas 3 deposits, at its Tumas project, in Namibia, with measured and indicated mineral resources estimated at 102.1-million pounds of equivalent triuranium octoxide (eU3O8), grading 268 ppm.
The mineral resource upgrade follows the completion of a resource drilling programme and an update of the Tumas project’s mineral reserve is in progress.
Deep Yellow says it is confident that the reserve update will extend the operating life of the flagship Tumas project to over 35 years.
“Tumas is a standout, Tier-1, long-life project and the team continues to tick all the boxes as we progress with project financing and marketing ahead of a final investment decision later this year.
“Delivery of the Tumas mineral resource upgrade across the areas earmarked for the initial six years of mining highlights the potential of the mineralised system identified at Tumas to deliver quality uranium resources. Remarkably, even with the detailed infill drilling on the Tumas 3 deposit to convert resources from indicated to the more stringent measured category, the quantity and quality of the Tumas 3 resource has remained well within the acceptable range,” comments Deep Yellow MD John Borshoff.