- DevEx Resources (DEV) intersects further high-grade uranium mineralisation at its Nabarlek uranium project in the Northern Territory
- Reverse circulation (RC) and diamond drilling are ongoing at the project to test multiple historical prospects
- Results have been received for the Nabarlek South and U42 prospects, with up to 1.80 per cent and 1.03 per cent triuranium octoxide intersected, respectively
- Drilling is now underway at the Coopers prospect to test priority uranium targets before DevEx shifts its focus to the Overload prospect
- DevEx closes 1.64 per cent lower at 30 cents per share
DevEx Resources (DEV) has intersected further high-grade uranium mineralisation at its Nabarlek uranium project in the Northern Territory.
Reverse circulation (RC) and diamond drilling are ongoing at the project to test multiple historical prospects.
At the Nabarlek South prospect, 12 holes diamond holes were drilled to further evaluate previously-intersected uranium mineralisation.
Results include 53.3 metres at 0.23 per cent triuranium octoxide from 82.3 metres, including 0.6 metres at 1.80 per cent triuranium octoxide.
Results received from this area so far have identified an emerging zone of fracture-hosted uranium mineralisation that neighbours the projected intersection of two uranium-bearing faults.
Additionally, a strong historical anomaly lies immediately east and could highlight a deeper target down-plunge from the currently-defined mineralisation.
At the U42 Prospect, broad-spaced RC drilling intersected an interval of “significant” uranium mineralisation including 1.9 metres at 0.44 per cent triuranium octoxide from 186.7 metres, including 0.6 metres at 1.03 per cent triuranium octoxide.
Drilling is now underway at the Coopers prospect to test priority uranium targets before DevEx shifts its focus to the Overload prospect.
“The dolerite rock package surrounding the historic Nabarlek mine is emerging as an
exceptional shallow exploration target for DevEx, with multiple wide zones of fracture-hosted uranium mineralisation already intersected at Nabarlek South and significant high-grade uranium also discovered in a wildcat hole at U42,” Managing Director Brendan Bradley said.
“Drilling is now focusing on the Overload and Coopers prospects, with additional drilling also planned at U42 before the end of the year.”
DevEx closed 1.64 per cent lower at 30 cents per share.