Nova Joint Venture

In 2016, Deep Yellow entered into a joint venture agreement with JOGMEC (a Japanese Government Agency) on a 4-year, $4.5M earn-in exploration and development program, for a 39.5% interest in Nova.

The joint venture included two EPLs prospective for both basement and palaeochannel-type uranium mineralisation.

In September 2020, JOGMEC completed its earn-in requirements for a 39.5% interest in the Project.

Over the duration of the joint venture, exploration was successful in identifying previously unknown mineralisation at the Namaqua palaeochannel and the Iguana and Barking Gecko basement prospects.

Following the completion and assessment of results of an RC drilling program in December 2023, the joint venture partners reassessed the Project, with regard to future exploration and limited follow-up work at the Barking Gecko prospect on EPL3669.

During the June quarter of 2024, JOGMEC advised of its intention to withdraw from the joint venture with documentation currently in process to facilitate this. As a corporate joint venture, this process may take some time and upon completion of this process, the project equities will revert to the following:

Deep Yellow has agreed with Toro (the two active contributing joint venture partners) to evaluate opportunities with other parties interested in this prospective region.