Deep Yellow has announced the start of an extensive resource drilling program at the Tumas uranium project in Namibia.
The program is expected to increase the resource base and grow the Tumas 3 Project Life of Mine (LoM) from the current 22.5 years to more than 30 years.
“A resource drilling program commenced at the western end of Tumas 3. The primary aim of the drill program is to extend the Tumas 3 Mineral Resource towards the west, through Tumas 3 West and Tumas Central and to connect with the Tubas Mineral Resource,” the ASX-listed miner said in its latest exploration update.
The uranium developer also announced that it had submitted its Environmental Impact Assessment (EIA) for the Tumas uranium project last week to the Environmental Commissioner for consideration, with an Environmental Clearance Certificate (ECC) is expected to be issued early in the second half of 2023, opening the pathway for the granting of a mining license.
According to the results of its definitive feasibility study (DFS) completed in January this year, Deep Yellow’s capital investment in the Tumas uranium project increased to N$6.4 billion (US$372 million) from N$4.7 billion estimated in 2021.
This was based on treating 4.15 million tons of ore per year to produce up to 3.6 million pounds of uranium oxide (U3O8) and 1.15 million pounds of vanadium by-product over 22 years.
