The Deep Yellow Ltd (ASX: DYL) share price is in focus today after the uranium developer released an exploration update for the March 2026 quarter, highlighting the completion of 133 drill holes at the Tinkas Prospect in Namibia and a seismic survey at the Alligator River Project in the Northern Territory.
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What did Deep Yellow report?
- 133 holes (1,363m) drilled at Tinkas Prospect, Namibia, completed mid-March 2026.
- Uranium mineralisation confirmed in 38 drill holes (minimum 100 ppm eU₃O₈).
- Key intersections include 11m at 265 ppm and 4m at 244 ppm eU₃O₈.
- Seismic survey finished at Condor Prospect, Alligator River Project, NT.
- Five new priority drill targets identified at Condor for 2026 season.
What else do investors need to know?
Deep Yellow's drilling at Tinkas Prospect, just north-west of its flagship Tumas Project, confirms uranium mineralisation in both calcretised palaeochannel sediments and basement rocks. The company states further work may be needed before declaring a resource in the Tinkas area.
At the Alligator River Project, a reflection seismic survey mapped highly conductive Cretaceous cover and helped highlight several basement faults—now priority targets for future drilling. The Northern Territory Government contributed $100,000 to support this seismic program.
Exploration in Namibia during 2026 will also focus on other prospects like S-Bend and Aussinanis, as Deep Yellow continues to develop its regional pipeline.
What's next for Deep Yellow?
Deep Yellow will integrate new drill and seismic data to refine targets at both Namibian and Australian prospects. The next drilling campaign at Alligator River is scheduled for the second quarter of 2026 and may provide further resource upside if successful.
With projects in both Namibia and Australia, the company's dual-pillar growth strategy aims to underpin a globally diversified uranium supply as nuclear energy demand rises. Ongoing exploration, along with continued project development and potential M&A, are central to Deep Yellow's long-term plans.
Deep Yellow share price snapshot
Over the past 12 months, Deep Yellow shares have risen 109%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 12% over the same period.
