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Nova Joint Venture (39.5% DYL)

In November 2016, Deep Yellow entered into a joint venture agreement with JOGMEC (a Japanese Government Agency) covering exploration and development at the Nova Project. JOGMEC completed its earn-in of A$4.5 M over 4 years earning the right to a 39.5% interest in Nova.

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

The joint venture is applying innovative exploration tools including geophysical methods, analysis of the structural geological setting, and systematic drilling to the discovery of buried mineralisation. Previously unknown mineralisation has so far been discovered at the Namaqua palaeochannel, and the Iguana and Barking Gecko basement prospects.

The promising Barking Gecko prospect is a basement/alaskite style prospect on EPL3669.

Phase 4 drilling was completed in mid-November 2023. Results confirmed the continuation of the mineralisation to the northeast for a further 100 m towards the Iguana prospect. The area remains prospective, with a moderately strong mineralisation associated and therefore with the possibility of further discovery.

Looking ahead at Barking Gecko, the focus will remain on evaluating the possible economic value of the mineralisation considering the rapid increase in uranium price over the past 12 months.

Nova Joint Venture Equity Interests

Reptile Mineral Resources & Exploration (Pty) Ltd – Manager
(Subsidiary of Deep Yellow Limited)
Japan Organization for Metals and Energy Security (JOGMEC) 39.5%
Nova Energy (Africa) Pty Ltd
(Subsidiary of Toro Energy Ltd)
Sixzone Investments (Pty) Ltd
6% (Carried interest)

Nova JV Project Location Map