Deep Yellow Ltd (DYL) (ASX Code: DYL) is a dedicated uranium exploration company listed on the ASX and the Namibian Stock Exchange with advanced exploration holdings in Namibia and Australia.
Through its wholly owned Namibian subsidiary, Reptile Uranium Namibia (Pty) Ltd, DYL is actively exploring for uranium on its four 100% owned Exclusive Prospecting Licences (EPLs) covering 2,872km² and three joint venture EPLs covering 1,323km², (earning 65% from Nova Energy (Namibia) (Pty) Ltd) in the Namib Naukluft Desert Park inland from Walvis Bay and south and west of Paladin’s LHM. Seven RC and one to two diamond rigs are being used to drill between 9,000m and 12,000m per month on a number of different projects within these tenements. Additional JORC resource announcements were made during the financial year.
In Australia, DYL is focused on uranium exploration in the Mount Isa district in north-west Queensland and the Tanami Arunta Province in the Northern Territory. Both RC and diamond drilling is underway on a number of these projects.
During the year Paladin invested a further A$12.9M to increase its equity in DYL to 19.6%. Further information on DYL can be found at www.deepyellow.com.au.