TUMAS PROJECT
-
o Valid for 20 years from date of issue (expiring
-
o Indicated Mineral Resources upgraded to 60.6Mlb at 325ppm eU3O8
o 11% increase in Resource achieved without loss of grade
o Total Indicated Mineral Resources within ML 237 increased to 108.5Mlb at 265ppm eU3O8
- Definitive Feasibility Study (DFS) Re-Costing Study validated commercial viability of
o Base case uranium price increased conservatively to
o Initial capital cost estimates lowered by 6.4% to
o The
o Revised Life of Mine (LOM) C1 operating cost after vanadium credit up slightly to
o The price scenarios, regarded as likely, increase post-tax real NPV8 to:
-
-
o Further potential gains identified to be progressed during detailed engineering phase
o Metallurgical testwork indicated potential gains across beneficiation, washing and PLS concentration areas, that have not yet been incorporated
o Results provide the Company with a strong platform to proceed with project financing, detailed engineering work, and maintain the timeline for Final Investment Decision (FID) to be made in Q3 2024
MULGA ROCK PROJECT (MRP)
- Highly encouraging results from ongoing metallurgical testwork
- Program is using samples from the 63 aircore holes drilled late in 2022, along with the 233 aircore hole, 14,794m close-space drill program completed in
- Results have indicated potential for a significant increase in Project revenues through an increased recovery both for uranium and critical minerals
o Overall recovery of uranium above 90%
o Overall recovery of critical minerals (copper, nickel, cobalt, zinc, neodymium, praseodymium, terbium and dysprosium) above 70%
- The substantial improvement identified in overall recovery performance of the critical minerals, as well as improved uranium overall recovery, compared to the 2018 DFS completed by
- All samples for multi-element geochemistry delivered to laboratory for updated Mineral Resource Estimate (MRE) with results expected in Q1 2024, which will include both uranium and critical minerals
- Ongoing testwork data to further define and optimise process conditions, costs and recoveries, along with the MRE update will provide the base of the revised Ore Reserve statement and start of the revised DFS
NOVA JOINT-VENTURE
- Follow-up Phase 4 RC drill program completed at Barking Gecko North
- 8 holes for 1,558m drilled, with key best intersections including:
o TN294RC
- 9m at 382ppm eU3O8 from 203m
o TN297RC
- 3m at 260ppm eU3O8 from 64m
- 9m at 290ppm eU3O8 from 71m
- 2m at 242ppm eU3O8 from 124m
- 7m at 243ppm eU3O8 from 143m
- Next steps will concentrate on evaluating possible economic value of the mineralisation considering recent, rapid increase in uranium prices
CORPORATE
- Strong global nuclear resurgence forecast with highly positive implications for supply demand
- Ongoing strong support for nuclear as a primary source of clean energy highlighted by 22 countries at the
- Substantial uranium spot price movement during the Quarter reported by
o Up by an impressive
-
- Cash position at end of
- Anticipated additional funds with receipts of approximately
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/ZCMBVOJ1
About
The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP,
Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.
Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.
Contact:
Managing Director/CEO
T: +61-8-9286-6999
E: john.borshoff@deepyellow.com.au
W: www.deepyellow.com.au
Media:
T: +61-466-984-953
e: cgilenko@citadelmagnus.com
Copyright (C) 2024 ABN Newswire. All rights reserved., source