The shares of Deep Yellow Ltd (ASX:DYL) are trading higher on the ASX after renewing two exclusive prospecting licences, allowing DYL to continue its progress at the Tumas/Tubas and Omahola uranium projects in Namibia.
The Tumas/Tubas Palaeochannel Calcrete Project is a high-grade undeveloped project located in the country that also hosts the world class Husab, Rössing and Langer Heinrich uranium mines all within the same region.
DYL is currently conducting metallurgical (beneficiation) testwork on a bulk sample from the Tumas Deposit that could lead to a project with comparatively low capital and operating costs.
The Tumas/Tubas deposits hosts surficial calcrete deposits which are amenable to various physical beneficiation upgrading techniques that have been successfully tested over the last four years.
DYL also holds the Omahola Open Pit Heap Leach Project on which value engineering studies are being conducted to supplement the recently completed preliminary economic analysis.
DYL is operating in Namibia through its wholly owned subsidiary, Reptile Uranium Namibia Pty Ltd.
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