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DEEP YELLOW
LIMITED
ABN 97 006 391 948
Level 1 329 Hay Street Subiaco WA 6008
PO Box 1770 Subiaco WA 6904
Tel : 61 8 9286 6999
Fax : 61 8 9286 6969
Email: [email protected]
Website: www.deepyellow.com.au
19 December 2007
NAMIBIAN UPDATE ? HARDROCK URANIUM
MINERALISATION DISCOVERIES
The Directors wish to announce early success in follow-up of
regional scale anomalies generated from the detailed airborne
radiometric and magnetic survey (ASX 30th October 2007).
Ground checking of airborne radiometric and magnetic anomalies close to roads/tracks in the
northern part of Tubas EPL 3496 commenced on 10 December. Three teams, each comprising
two geologists have had immediate success, namely:
Alaskite Discovery
The ground teams have discovered, geologically mapped, radiometrically surveyed and
geochemically sampled a previously unknown alaskite occurrence (a specific granite type
that hosts the Rossing uranium mine and Bannerman?s and Extract?s uranium mineralisation
to the north and northeast). The alaskite outcrop and sub-outcrop (partly under cover)
contains extensive secondary uranium mineralisation in its weathered crust present as
abundant visual carnotite (see attached photographs).
Composite samples assayed to date have returned values of between 2,000 and 4,500 ppm
U3O8. At present the mapped area covers about 4 km2 and is being extended.
Mineralisation is patchy and the alaskite is not massive but typically contains both mafic and
more acid intrusive inclusions. Reconnaissance RC drilling of this area to 150 m depths will
commence early January to better understand the distribution of alaskite and uranium
mineralisation.
Iron Oxide ? Uranium Discovery
Potentially of great significance is the discovery of an iron/magnetite outcrop while following
up co-incident radiometric and magnetic anomalies. This occurrence in basement rocks was
mined on a small-scale for iron in the last century. Composite dump samples have returned
assays of between 200 and 400 ppm U3O8.
The discovery area is mostly sand covered and is presently being mapped. Although the
new prospect is at an early stage of assessment a decision has been made to complete one
or two 150 m deep angled RC drill holes this week to test the depth potential of the
mineralisation. There is minor copper staining present in the dump material and it is
tempting to brand this impressive brecciated system as iron-oxide mineralisation.
Namibian Update - Hardrock Uranium Mineralisation Discoveries
07-83 Page 2
The discovery of the two previously unknown occurrences of uranium mineralisation highlights the
prospectivity of the Company?s four wholly owned Exclusive Prospecting Licences and the value of
the airborne radiometric and magnetic survey data acquired by the Company. The survey data
has generated numerous untested anomalies that will no doubt generate many new drill targets
outside of the known historical near surface secondary uranium mineralisation presently being
converted to JORC Code Resources (ASX 21st November 2007).
Helicopter support will be employed from early January to allow the sampling teams ground access
to evaluate more remote anomalies.
Dr Leon Pretorius
Managing Director
Further Information:
Mr Martin Kavanagh
Executive Director
(08) 9286 6999
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on
information compiled by Dr Leon Pretorius a Fellow of The Australasian Institute of Mining and Metallurgy. Dr Pretorius
has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to
the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ?Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves?. Dr Pretorius consents to the inclusion
in the report of the matters based on his information in the form and context in which it appears