While Tumas remains the focus, Deep Yellow (ASX: DYL) is aspiring to unlock further uranium potential across its Namibian tenements, with three new priority targets identified at its Omahola project.
Omahola occurs within the Alaskite Alley corridor, which hosts major uranium deposits – Rossing, Husab, Etango and Valencia. Combined, more than 800 million pounds of uranium oxide has been identified at these deposits. Rossing alone has produced more than 200Mlb of uranium oxide.
Last month, Deep Yellow unveiled an updated resource for Omahola of 125.3Mlb at 190ppm uranium oxide with a 100ppm cut-off across the measured, inferred and indicated categories.
The resource comprises Inca, MS7 and Ongolo deposits.
Omahola remains underexplored
Deep Yellow anticipates there is potential to expand resources at Omahola considering the “substantial accumulation of uranium” and its underexplored nature.
A 35km by 14km structural zone with favourable lithological contacts has been noted at Omahola. It is within the Alaskite Alley and trends northeast to southeast.
Deep Yellow pointed out only a small section of the zone has been adequately drilled.
After a comprehensive review of all existing data, Deep Yellow settled on the most effective way to unlock Omahola’s potential.
The company recently completed a shallow drilling program (25-35m deep) accompanied with 50-100 parts per million geochemical isopachs to isolate high-priority areas for further drilling.
This program comprised 220 holes for 7,426m.
Almost half the holes drilled exceeded 50ppm uranium oxide over 1m or more.
Deep Yellow said this was an “exceptional result” and signified the prospectivity of the zone drilled.
High priority targets
Within these, 34 holes exceeded 100ppm uranium oxide over 1m contours – clearly delineating the high priority areas for follow up drilling.
Deep Yellow noted the priority areas occurred in “three distinct clusters” and would be drilled early in 2022.
Two of the clusters are south of the Inca deposit.
“This work indicates strong potential exists for the possibility of discovering new deposits within the Omahola project area,” Deep Yellow stated.
Prior to drilling, the company will review all geophysical and geological data to help refine optimal targets.