Northern Territory - June 2010
DYL's exposure to the highly prospective Tanami - Arunta uranium province totals approximately 28,755 km2 comprising:
- Operational base in Alice Springs
- Defined projects cover 12,270 km2
- DYL has 100% rights to uranium with ABM Resources tenements covering an additional 16,035 km2
- Napperby calcrete-hosted uranium deposit Inferred JORC Code mineral resource of 9.34 Mt at 359 ppm U3O8 for 3,351 tonnes (7.39 Mlbs) as part of a larger mineralised system.
- Ongoing CLC and Landowner negotiations for access to prospective areas
The target within the majority of the tenement areas is calcrete-hosted uranium mineralisation similar to DYL’s Napperby deposit. The potential for this style of mineralisation occurring in buried channels (palaeochannels) can be rapidly assessed by airborne electromagnetic surveys and to 1 to 2 km spaced shallow drill traverses. Other targets include roll-front uranium mineralisation at Mt Liebig located 250 km WNW of Alice Springs.
Figure 1: Northern Territory Tenements
NAPPERBY DEEPS
DYL’s Napperby calcrete-hosted uranium deposit occurs in a relatively ‘young’ palaeochannel system within developed within the Tertiary – Quaternary Burt Basin.
The sand and weakly consolidated/cemented sediments hosting the deposit overlay Palaeoproterozoiz basement rocks which regionally have potential to host, gold, base metal and IOCG(±U) deposits.
During the period of the Toro Energy Ltd option over the Napperby deposit, DYL and Toro entered into a 50/50 joint venture to test magnetic/gravity targets developed in basement terrain within ELs 24246 and 24606.
Prior to Toro withdrawing from the ‘Napperby Option’ as operators of the JV they undertook a gravity survey and drilled two RC/diamond tail holes to test two of five targets. One hole failed to reach basement and the second hole intersected magnetite bearing granite in part explaining the gravity/magnetic anomaly at that location.
DYL will assess the ‘Deeps programme’ with a view to continuing exploration as warranted.
Figure 2: Gravity Sites
MT LIEBIG PROJECT
The Mt Liebig Project located 250 km WNW of Alice Springs comprises two exploration licences contiguous to the SW of the Napperby tenements. The target is shallow calcrete hosted uranium mineralisation as per Napperby and/or Tertiary sandstone hosted roll front uranium mineralisation at depth.
A meeting with Traditional Aboriginal Owners to negotiate access for uranium exploration took place on the 21 November 2007. The Company has recently been informed that its proposal to explore for uranium and possible future mining has been accepted by the Traditional Aboriginal Owners and DYL have agreed to the Terms and Conditions of Deed for Exploration. Permission was received to fly an AEM survey over the tenements in August 2008 and DYL field crew has completed a reconnaissance visit to check access for the proposed 5,000 metre aircore drill programme.
OFFICER PROJECT
DYL received notification that its application for access to the Officer Project tenements 400 km Northwest of Alice Springs has been successful.
DYL has accepted the Terms and Conditions of a Deed for Exploration for the project area. A first meeting of Traditional Owners is scheduled for 29 June 2010 at Mt Davidson.
DYL will initially target a palaeochannel related uranium radiometric anomaly over 16 km length within EL 10223 (see Figure 2) located approximately 50 km south of the Granites Gold Mine.