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  • Deep Yellow Renews Three Nova Joint Venture Uranium Licences In Namibia 0 comments
    Oct 31, 2013 11:07 PM

    Deep Yellow (ASX: DYL) and its partners have renewed the three Nova Joint Venture Exclusive Prospecting Licences in Namibia for a further two years.

    This allows the company to expand its search for higher grade alaskites, specifically on EPL3669 and EPL3670, using results from the recently completed target generation study.

    The two licences are considered prospective for uranium bearing alaskites similar to those found on the company's EPL3496 that hosts its flagship Omahola Project, which has a Resource of 48.7 million tonnes at 420 parts per million U3O8.

    "Once again I would like to acknowledge the Namibian Ministry of Mines and Energy for its efficient handling of the renewal process and for giving us the opportunity to apply the results of the recently completed target generation analysis on this ground as well," managing director Greg Cochran said.

    The joint venture has voluntarily reduced of the combined area of EPLs 3668, 3669 and 3670 by 24% to 989 hectares.

    Deep Yellow has a 65% interest in the Nova JV. Its partners are Toro Energy (ASX: TOE) with 25% and Namibian empowerment partner Sixzone Investments with 10%.

    The Nova licences are located to the east, west and south of EPL3496.

    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.

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