Ponton Uranium Project

Always worth keeping an eye on what DYL (I own) is doing at Mulga Rock, 40 KM's from Ponton.
For me this is still the jewel in the Crown.

HIGHLIGHTS
• The 630-hole 37,000m air core drill program at Mulga Rock 70% complete and
delivering positive results
• The program is focused on two areas, grade variability and resource infill drilling. Key
objectives of the program are:
o Resource upgrade – convert current Inferred Mineral Resource to Indicated status.
o Classification of uranium and critical minerals
o Define grade variability within the orebody ahead of revised Definitive Feasibility
Study (DFS) start-up
o Provide additional material for metallurgical analysis
• Phase 1, the grade variability drill program is completed, with 233 aircore holes drilled
for 14,794m. This program was reduced from the originally planned 441 to 233 holes
• The Phase 2 program has commenced with the resource infill drilling, with 230 holes
for 12,294m of this 399-hole program completed.
o Focused on converting remaining Inferred Mineral Resources of the Ambassador and
Princess deposits to an Indicated Mineral Resource status
• The full air core program is on track to be completed in Q3 CY2023 and, following
assessment of results, Deep Yellow expects to release an updated Mineral Resource
Estimate in Q4 CY2023, which will include both uranium and the critical minerals