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Exploration|PROJECT|Projects
Exploration|PROJECT|Projects
exploration|project|projects

Deep Yellow reports 18% increase in ore reserves at Tumas

18th December 2024

By: Creamer Media Reporter

     

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ASX-listed Deep Yellow has updated the ore reserve estimate for its Tumas uranium project, in Namibia, reporting an 18% increase to 79.3-million pounds of uranium octoxide (U3O8) at 298 ppm.

This is sufficient for a 30-year life-of-mine and includes proved reserves of 28.4-million pounds at 287 ppm U3Oand probable reserves of 50.9-million pounds at 305 ppm U3O8.

“This major ore reserve upgrade continues to confirm the upside potential of the Tumas project. We now have a reserve with a 30-year LoM expectancy with potential to increase this by a further five to ten years with further work in the coming years.

"All of this augers very well, positioning Tumas as a very important long-term supplier of uranium in what we believe will be a supply-constrained sector,” says Deep Yellow MD and CEO John Borshoff.

The company is working to build a Tier 1 uranium company with a production capacity of more than ten-million pounds of U3O8 a year. 

In addition to the Tumas project, the company is also developing the Mulga Rock project, in Western Australia. It also owns exploration projects in Namibia and in Australia's Northern Territory.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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