Deep Yellow has announced a significant upgrade to the Mineral Resource Estimate (MRE) for the Tumas 3 Deposit in Namibia, propelling the project towards a remarkable +30-year Life of Mine (LoM).
This substantial upgrade elevates the Tumas 3 Mineral Resource to a remarkable 66.8Mlb at 300ppm eU3O8, with Indicated Mineral Resources experiencing an impressive 11% increase to 60.6Mlb at 325ppm eU3O8.
“This upgraded MRE is a testament to our unwavering commitment to expanding the Tumas Project’s resource base and unlocking its full potential,” said John Borshoff, Deep Yellow’s Managing Director and CEO.
“The results of our comprehensive exploration programme have significantly extended the project’s LoM, paving the way for a thriving +30-year operation.”
The company’s two-phase, 235-hole, 8,017m reverse circulation resource drilling programme, conducted west of the Tumas 3 Deposit, played a pivotal role in this remarkable upgrade. This strategic programme, completed in September 2023, aimed to expand the current resource base towards Tumas 3 West and Tumas Central.
“The primary objective of the drill programme was to identify additional resources to extend the overall Tumas Project to a +30-year LoM, expanding upon its current 22.5-year life,” explained Borshoff.
The success of this exploration endeavour has not only enhanced the overall resource base but has also increased the Indicated Resource base associated with the Tumas palaeochannel.
Notably, the Tumas 3 MRE upgrade has propelled the overall Indicated Resource base at a 100ppm eU3O8 cut-off associated with the Tumas palaeo channel (Tumas 1, 2, 3 and Tubas) from 102.8Mlb to a remarkable total of 108.5Mlb eU3O8. Driven by this success, Deep Yellow remains committed to exploring further opportunities, with plans for additional resource drilling to the west of Tumas 3 during FY25.
The company’s unwavering focus is on identifying a further 30Mlb to achieve a +30-year LoM, demonstrating a forward-looking strategy to sustain long-term success in the uranium industry
