Deep Yellow Ltd.'s exploration prospecting licenses comprising its Reptile uranium project in Namibia are set to be renewed for two years to Aug. 4, 2021.
Exploration licenses 3496 and 3497 host the bulk of the project's calcrete and alaskite resources, according to an Aug. 20 release.
The company is conducting exploration and resource upgrade drilling at Reptile targeting a resource estimate of 100 million to 150 million pounds of uranium grading 300 parts per million to 500 ppm uranium.
Deep Yellow raised A$9 million through a share placement in mid-June and earmarked the funds for short-term working capital, resource expansion work in Namibia and project acquisitions.
