- DevEX Resources (DEV) has intersected shallow copper-sulphides whilst drilling at its Bogong Copper-Gold Project in New South Wales
- DevEX says it will proceed with drilling another 6 or 7 holes by mid-December
- The company also updated shareholders on other projects at its AGM today
- Maiden drilling is planned for early 2020 at the company’s Junee Project, also in the Lachlan Fold Belt
- Earlier in the year, a drilling campaign at West Arnhem Nabarlek confirmed uranium mineralisation beneath the historical Nabarlek Open Pit
- The company is now refining targets for future drilling at the project
- DevEX shares are down 7.41 per cent, trading for 7.5 cents apiece
DevEX Resources (DEV) has intersected shallow copper-sulphides in drilling at its Bogong Copper-Gold Project in NSW.
The two-hole diamond drilling at the project, located in the Lachlan Fold Belt, commenced at two holes in October 2019.
The first hole intersected shallow copper sulphide mineralisation associated with a brecciated porphyry. It returned results of 12.6 metres at 1.24 per cent copper from 16.8m.
The second hole intersected Diorite breccia between 71m to 100m with variable concentrations of chalcopyrite and bornite. Assay results are still pending.
The company plans to complete another 6 or 7 holes by mid-December, with the drill rig at Bogong double-shifting to accelerate drilling.
At the AGM today, shareholders were updated on the company’s other projects including the Junee Project, also located in the Lachlan Fold Belt. A drilling program will begin at Junee in early 2020, once the Bogong drilling program is complete.
A successful capital raising to the tune of $4.6 million was completed in the last year to underpin an accelerated drilling program at the two Lachlan Fold Belt projects.
In the top end, DevEX Resources’ West Arnhem Nabarlek Project completed a drilling program beneath the historical Nabarlek Open Pit.
The Nabarlek Open Pit is located within the Alligator Rivers Uranium Province and is Australia’s highest-grade uranium deposit.
The results from drilling beneath the pit confirmed uranium mineralisation. DevEX is now reviewing historical electromagnetic data to refine targets for further drilling.
Company shares are down 7.41 per cent, trading for 7.5 cents apiece at 2:21pm.