- DevEx Resources (DEV) reports further “high-grade” uranium hosted in numerous structures at its Nabarlek project in the Northern Territory
- The final assays from a 2022 drilling program returned results such as 54.6 metres at 2 per cent uranium from 76.5 metres
- DEV says the results highlight the potential of the project and the opportunity to delineate high-grade zones of mineralisation across multiple prospects
- The company will focus on the prospective zones during its 2023 drilling campaign, with the aim of laying the foundations for resource definition
- Shares in DevEx are down 1.9 per cent and trading at 26.5 cents at 10:38 am AEDT
DevEx Resources (DEV) has received final assays from a 2022 drilling campaign at its Nabarlek project in the Northern Territory, confirming the presence of further “high-grade” uranium.
Significant new results included 54.6 metres at 0.2 per cent uranium from 76.5 metres, including 0.3 metres at 3.1 per cent uranium, one metre at 1.1 per cent uranium, 2.3 metres at 0.6 per cent uranium and 2.7 metres at 0.6 per cent uranium.
Other significant results included 24.7 metres at 0.1 per cent uranium from 90.3 metres.
DevEx Managing Director Brendan Bradley said the results, supported by preliminary metallurgical studies, provided the groundwork for the company’s upcoming 2023 drilling campaign at Nabarlek.
“We are enthusiastic about the potential and size of the opportunity at Nabarlek. The wet season break has provided an opportunity to assess the results and refine our understanding of the bigger picture that is emerging,” Mr Bradley said.
“There are now several compelling reasons to extend our drilling along-strike from the shallow mineralisation intersected at Nabarlek South to fully evaluate the size of this system.”
The company said it planned to delineate the high-grade zones of mineralisation across multiple prospects as part of its 2023 campaign as it moved towards a resource definition.
Additionally, DevEx called on the Australian Nuclear Science and Technology Organisation (ANSTO) to conduct preliminary metallurgical test work and mineralogy studies.
The ANSTO looked at two composite samples, grading 0.11 per cent and 0.7 per cent uranium oxide. The test work indicated strong recoveries of 84 per cent and 96.1 per cent from the samples.
DevEx said the “highly encouraging” results gave it greater confidence as it prepared to embark on its 2023 drilling campaign.
Shares in DevEx were down 1.9 per cent and trading at 26.5 cents at 10:38 am AEDT.