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- Final preparations underway for Nabarlek uranium drilling campaign
- Targeting high-priority opportunities including Big Radon
- Large-scale, multi-target campaign of RC and diamond drilling
- Awarded new grant funding to support airborne hyperspectral survey
DevEx Resources (ASX:DEV) has been awarded $150,000 in grant funding from the NT government to support a new airborne hyperspectral survey at the Nabarlek uranium project.
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Scheduled to commence in August, the grant award follows the recent addition of uranium to the NT government’s critical minerals list.
It also complements funding previously secured for RC and diamond drilling at the Big Radon and KP prospects commencing next month. Together, these grants total up to $285,000 under the NT ‘Resourcing the Territory’ program.
The grant comes as DevEx kicks off on-site preparations for its 2026 drilling campaign at Nabarlek, with the first drill rig scheduled to arrive in the second week of July.
The campaign will target multiple high-priority opportunities including Big Radon, KP, Sandfire and Nabarlek North.
MD, Marnie Finlayson, told shareholders DevEx intends to apply the 1700 sq. km, state-of-the-art hyperspectral survey across its expanded Nabarlek project to map clay alteration and minerology within the overlying sandstones, a recognised technique for prioritising targets prospective for unconformity-type uranium mineralisation.
“The survey is expected to further build the company’s growing pipeline of high-priority uranium targets across its portfolio,” Ms Finlayson said.
Previous airborne hyperspectral work, limited to the area surrounding the Nabarlek Mine, identified significant illite and pyrophyllite clay alteration within sandstones overlying uranium-bearing structures at Big Radon and Leatherhead prospects.
Ms Finlayson noted that comparable alteration signatures have been reported by Deep Yellow Limited (ASX:DYL) in sandstones overlying its Angularli uranium deposit to the north.
She said alteration of this style is widely recognised as a vectoring tool for unconformity-type uranium deposits, both within the McArthur Basin and other comparable uranium systems in Canada’s Athabasca Basin, where alteration can extend into sandstones above and adjacent to uranium mineralisation.
Meanwhile, with conditions precedent to DevEx’s acquisition of the tenements from Alligator Energy now satisfied and completion expected by the end of this month – the upcoming survey will provide an early opportunity to apply this exploration approach across the newly consolidated Nabarlek tenure.
DEV is steady at 27.0¢. Mkt cap $184.6M.
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