Sunday, March 9, 2008

Deep Yellow exploration and drilling update

Deep Yellow exploration and drilling update
March 10 (miningnamibia)-Deep Yellow Limited has issued a Namibian exploration and drilling Update. Deep Yellow Ltd (DYL) said in preliminary results from its ongoing
exploration and drilling activities being undertaken in Namibia by its wholly owned subsidiary Reptile Uranium Namibia (Pty) that latest diamond drillhole on the Tubas uraniferous magnetite intersects 229 ppm eU3O8 over 115 m from 14 m. It said RC drilling on Tumas confirms widespread uranium mineralisation outside known Falconbridge delineated areas.
Best intersection to date is 571 ppm eU3O8 over 8.7 m from surface. Diamond drilling to +400 m commenced on Tubas North alaskites. RC drilling on Tubas North continues to intersect wide alaskite hosted low grade uranium mineralisation.
Airborne electromagnetic survey which were due to begin last week: - RC drilling which commenced last week on Aussinanis and Ripnes Where eU3O8 is reported it relates to values attained from radiometrically logging boreholes with Auslog equipment using an A675 - slimline gamma ray tool. The probe has been calibrated at the Pelindaba Calibration facility in South Africa with calibration certification provided by Geotron Systems (Pty) Ltd a geophysical consultancy based in South Africa. All eU3O8 results reported are affected by issues pertaining to possible disequilibrium and uranium mobility, which should be taken into account when interpreting them pending confirmatory chemical analyses.

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