Deep Yellow Limited (ASX:DYL) has completed a 7490 metre scout drilling program at its Nova Energy Joint Venture project, Namibia (Nova JV).
Japan Oil, Gas and Metals National Corporation (JOGMEC) is earning a 39.5% interest in the project which includes an extensive drilling campaign.
The drilling program aimed at determining methods to be used in future to isolate prospective zones of uranium mineralisation.
Identification of previously unknown palaeochannels
The reinterpretation of a previously flown VTEM survey identified palaeochannels previously not known to occur on either of the tenements.
Their geophysical similarities to other mineralised palaeochannels in the region indicated that these needed testing for calcrete associated uranium mineralisation.
Three drill sections involving 14 holes spanning 639 metres were completed to test the most northerly of these newly identified palaeochannels.
Drilling in this area had encountered uranium mineralisation in three adjacent holes.
Namaqua prospect delivers promising drilling results
An historic hole (NTNR4) drilled in 2010 located 100m to the west, targeting basement mineralisation, also showed uranium mineralisation in cover sediments.
This new discovery was renamed the Namaqua Prospect (formerly Speke’s East).
The Namaqua channel was further tested by two drill lines 1.5 kilometres and 2.5 kilometres from the Namaqua discovery where no uranium mineralisation was encountered.
Prospectivity of Nova joint venture system has been expanded
Deep Yellow views the new Namaqua data as a positive development even though the sections drilled to the south did not encounter uranium mineralisation.
More significant was the identification of calcrete associated mineralisation within the palaeochannels in the Nova JV tenements.
This has potentially expanded the prospectivity of the palaeochannels.
Further drilling is planned in 2018 to explore the extent of the mineralisation at Namaqua and to evaluate the potential of the newly identified palaeochannels.