Reptile Project

The Reptile Project includes EPLs 3496 and 3497 covering 1,131km2.  Over the last 10 years DYL drilled in access of 750,000m and defined uranium resources of both the palaeochannel calcrete and alaskite types in various scattered deposits (for details see Resource section).  Under new management (from October 2016), DYL started a new geological and geophysical evaluation of the historic project data and while this is still ongoing significant new prospective targets for both target types have been defined.

The Project is held 100% by Reptile Uranium Namibia (Pty) Ltd (RUN) which through RMR is wholly owned by DYL.  To conform with Black Empowerment (BEE) requirements, a heads of agreement has been signed which will allow 5% equity to be taken up by Oponona Investments (Pty) Ltd on any project that results in development within the project tenements of which 2% will be held via a Trust to ensure broad-based economic empowerment of disadvantaged community members occurs through educational grants and worthy community project funding.

Palaeochannel/Calcrete Type Target

The palaeochannels cover Cretaceous, Tertiary and Quaternary sediments and are the targets for the Langer Heinrich style of uranium mineralisation.

The current calcrete related uranium resource base includes – Tumas and Tubas deposits of 20Mlb at 370ppm U308 and the overlying Red Sands resource of 12.7Mlb at 170ppm U308.

The new and ongoing evaluation work in early 2017 defined several new priority targets including a new uranium discovery – Tumas 3. The initial March to June 2017 drilling program identified in excess of 4km of continuously mineralised palaeochannel at Tumas 3, which was previously unknown and essentially blind in nature with no surface radiometric expression.

With this successful drilling program DYL will now commence the methodical exploration of what is confirming to be a very fertile, uraniferous calcrete system within palaeochannels which extend in excess of 100km strike length.  To date only 25km of this high priority target has been adequately explored.

The exploration for this style of mineralisation is targeting 120 to 150Mt at grades in the range of 300 to 500ppm U308.  Our experience of the known mineralisation in the fertile paleochannels of this region shows that they can contain between 2Mlb to 12 Mlb U308/km when mineralised.  It is reasonable to assume 3 to 4 mineralised zones along the 100km of prospective channel system will be identified with the potential to contain 45 Mlb to 80 Mlb U308.

This can be achieved by continuing systematic drilling of the prospective sections of the underexplored regional channel system that has now been defined.

Basement/Alaskite Type Targets

The “Alaskite Alley” zone, which contains the bulk of the known basement resources in the region, cuts through the western part of EPL 3496.  To date a collective resource of 45.1Mlb at 419ppm U308 exists within this zone associated with the Inca, Ongolo and MS7 deposits . These deposits are located in the northern 10km of the 30km long Alaskite Alley prospective zone that has been isolated on EPL 3496.

The 30km, including the area of the 3 known deposits, are considered inadequately explored and still offer ample opportunities to find additional uranium resources of the Husab/Rössing style.  Previously untried geophysical methods can now be deployed to define blind drill targets over alluvial covered areas.  It is expected targets will be isolated extending from the known mineralised trends and which previously could not be targeted in a cost effective manner.