Deep Yellow to Focus on Uranium Despite Iron Ore Discovery

Mining Weekly reported Deep Yellow (ASX:DYL) says it will stay focused on uranium despite it’s recent iron ore discovery at the Shiyela project.

As quoted in the market news:

 Deep Yellow will also remain focused on obtaining critical mass at its Omahola uranium project, after the Tubas Red Sands deposit was removed from the equation to create a purely hard rock resource.

Deep Yellow’s MD, Greg Cochran said:

We still remain very much a uranium-focused explorer. While looking for uranium, we have discovered this primarily magnetite iron deposit, and we decided that we owe it to our share- holders, and to Namibia, to investigate [the discovery] and test its potential before making a final decision.

Click here to read the full Mining Weekly report.