They've found something very sig. Resistance still far off IMO and may run quite far today/tomorrow. Luck to long termers - look genuinely exciting (3.2%). Plenty of speculation in front of DYL.
Sydney - Thursday - April 23: (RWE Aust Business News) - Drilling
by Deep Yellow (ASX:DYL) subsidiary, Reptile Uranium Namibia, at the INCA
project has returned wide intersections of uranium
mineralisation of around 450 parts per million or better at around 200
metre depth.
It includes exceptionally high grades of up to 3.2pc over two
metres in hole INCR150.
The style of mineralisation at INCA is being classified as a
metasomatic-magnetite skarn type which is distinct and different from the
known lower grade alaskite hosted uranium mineralisation and the
recently announced higher grade Rossing South discovery controlled by
other companies in the district.
Reptile has been drilling out a portion of the INCA project area
since January 2009 as follow up to its limited initial drilling around
the historical Von Stryk iron ore pit, which returned 115 metres at 229
ppm from 14m in diamond drill hole ADM 02.
The extent of the INCA Deeps mineralisation which is open in all
directions will be tested within the restricted 500 by 350m resource
block grid area and Reptile estimates the drill-out of this area will be
completed by end of May.
Planned drilling, including diamond drilling, will later fully
test the area and depth extent of the mineralisation.
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