Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Deep Yellow Analysis Identifies 15 Alaskite Targets In Namibia

Deep Yellow's (ASX: DYL) recently completed Prospectivity Analysis on its Namibian uranium tenements have identified 15 alaskite-type targets with six assigned for high priority follow-up.

Alaskite is the main source of ore hosting uranium at the company's flagship Omahola Project and the new targets could host similar deposits to those at Omahola, which has a Resource of 48.7 million tonnes at 420 parts per million U3O8 and is located within Namibia's 'Alaskite Alley', which includes the Rossing uranium mine and Husab uranium project.

This is the first time that a prospectivity analysis has combined proximity to dome structures and marble as well as in remanently magnetised domains to identify alaskite in Namibia.

These layers were used to score and then rank prospectivity while the targets were prioritised based on degree of outcrop, radiometric response and extent of previous drilling.

The company also extended the area of analysis beyond its tenements to test the targeting methodology against the location of known deposits. These scored highly in the analysis, giving increased confidence in the results.

"These results far exceeded our expectations and have reinforced our long held belief that the best is yet to come from RUN's EPLs," managing director Greg Cochran said.

RUN (Reptile Uranium Namibia) is a wholly-owned subsidiary of the company that holds its Namibian tenements.

"Our new team in Namibia have applied the latest technology to take a significant step forward in identifying the next generation of high grade alaskite targets - we set out to identify at least 10 and we ended up with 15 of which 6 are high priorities," he added.

"We are already in the process of ground truthing some of these by conducting ground-radiometric surveys."

The company had in July, renewed three Exclusive Prospecting Licences including EPL3496 that hosts Omahola for a further two years.

Other projects located in the licences include the Tubas Sand Project and Tubas Palaeochannel Resource.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.