Deep Yellow Limited has entered into a binding agreement with Energy Resources of Australia Limited (ERA) (ASX: ERA) to acquire ERA’s 50% participating interest in the Cooper Creek JV.
The Cooper Creek JV holds two Exploration Licence Applications, ELA23311 and ELA23312, covering 810km2 in the northern part of the world-class Alligator Rivers Uranium Province (ARUP) in the Northern Territory (Figure 1). The other Cooper Creek JV partners are Cameco Australia Proprietary Limited, a wholly owned subsidiary of Cameco Corporation (TSX: CCO) (40%; JV manager) and Sutton Motors Proprietary Limited (10%).
Importantly, the Cooper Creek JV ELAs adjoin Deep Yellow’s existing tenement position in the ARUP and build out the Company’s exposure to this world-class uranium province. Deep Yellow’s ARUP tenure includes the Angularli Deposit, where the Company has identified an Inferred Mineral Resource at Angularli of 32.9 Mlb U3O8 at 1.09% U3O8.
Figure 1: Deep Yellow’s expanded Alligator Rivers Uranium Province tenement holding
