Deep Yellows Tumas Project Moves Closer to Final Investment Decision

Highlights:

• Tumas Project Resource Upgrade: Deep Yellow (ASX: DYL) has upgraded the mineral resources of its Tumas Uranium Project, confirming 58.2 Mlb U3O8 at 321 ppm in the Tumas 3 deposit alone.
• Strong Total Resource Base: The Tumas palaeodrainage system, including Tumas 1, 2, and Tubas, holds a total of 137.0 Mlb at 247 ppm eU3O8, showcasing its long-term mining potential.
• Upcoming Ore Reserve Update: An Ore Reserve update is expected in September 2024, as Deep Yellow moves closer to a final investment decision on the Tumas Project.

Deep Yellow Limited (ASX: DYL) is making significant strides with its Tumas Uranium Project, as it continues to deliver positive results ahead of its final investment decision (FID) later this year.

Resource Upgrade Shows Strong Potential

Managing Director John Borshoff highlighted that Tumas stands out as a Tier-1, long-life project, with all milestones being achieved on schedule. A recent mineral resource upgrade for the first six years of mining demonstrates the strength of the uranium system at Tumas, with 58.2 Mlb U3O8 at 321 ppm of Measured and Indicated Mineral Resources in the Tumas 3 deposit alone. The upgrade supports the project’s long-term viability and resource quality.

Impressive Mineral Resource Base

The combined resources from Tumas 1, Tumas 2, and Tubas, along with Tumas 3, contribute to a total of 137.0 Mlb at 247 ppm eU3O8. This showcases the scale of the Tumas palaeodrainage system, which is known for its rich uranium deposits associated with calcrete formations.

Next Steps

The Tumas Project is set for an Ore Reserve update in September 2024, utilizing the upgraded mineral resource estimates. As Deep Yellow progresses with project financing and marketing activities, the outlook for the Tumas Project remains highly promising, further establishing its potential as a key uranium source.

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