PERTH (miningweekly.com) - Africa-focused explorer Deep Yellow Resources has a maiden Joint Ore Reserves Committee-compliant inferred mineral resource of 78.8-million tons, at 18.88% iron, at its Shiyela iron project, in Namibia.

MD Greg Cochran said on Tuesday that the declaration of a maiden resource at Shiyela was another solid step forward in the assessment of the project.

“While we are pleased with the results, we recognize that more drilling and analysis must be done to enhance the resource base. In the meantime, our consultants are currently finalising the scoping study and the market can expect an announcement in that regard next week,” Cochran said.

The exploration programme to define the maiden resource consisted of 201 reverse circulation (RC) and diamond drill holes for 38 473 m of drilling over two deposits. Both deposits were open to depth, and reconnaissance drilling has confirmed lateral extensions to one of the deposits.

Cochran noted that a large diameter diamond drilling programme has now started to provide core for the next phase of metallurgical test work, as part of the planned feasibility study.

The programme would comprise at least three holes at both the deposits, to generate some 16 t of mineralised material.

Subject to the availability of funding for the project, a programme of RC and diamond drilling to target lateral and depth extensions would also be conducted in 2012. In addition, RC drilling would also be conducted to outline additional resource potential.

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