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- DevEx Resources (ASX:DEV) reports the high-grade system at its Nabarlek project continues to grow, underpinning priority targets for a 2024 drill program
- In 2023, DevEx tested the east zone of its U40 Fault target, with interpretations showing near-surface uranium mineralisation plunges shallowly to the south
- At Narbarlek North all uranium intercepts occur between overlying sandstone and underlying basement rock, which are indicative of Nabarlek-type structure nearby
- A primary focus for DevEx remains the discovery of substantial fault-hosted unconformity-type uranium deposits akin to the renowned Jabiluka deposit nearby
- DEV shares are up 13.5 per cent, trading at 29.5 cents at 1:54 pm AEDT
DevEx Resources (ASX:DEV) has announced that the high-grade uranium system at its Nabarlek project continues to expand, solidifying priority targets for the upcoming 2024 drilling program.
Last year’s drilling located promising mineralisation in the east zone of the U40 Fault target.
Initial analysis suggests the near-surface uranium mineralisation dips southward, with the deepest hole drilled so far intersecting five metres at 0.54 per cent uranium from 257 metres, including three metres at 0.82 per cent.
The finding confirms the persistence of uranium deposits extending below the unconformity and beyond previously explored depths, making it a primary focus for further investigation in 2024.
At Nabarlek North, all uranium discoveries lie between the overlying sandstone and underlying basement rock, indicating the presence of Nabarlek-type structures nearby.
“The receipt of laboratory assays reinforces the success of our 2023 drilling and underlines the growing scale of the exciting opportunity in front of us,” DEV Managing Director Brendan Bradley said.
“These drilling results continue to clarify the open-ended geological controls on the uranium mineralisation at U40.
“Knowing high-grade uranium mineralisation continues to be defined well below the traditional unconformity provides a major shift in exploration scale and will be an immediate priority for us when we resume drilling this year.”
DevEx remains dedicated to discovering substantial fault-hosted unconformity-type uranium deposits comparable to the nearby Jabiluka deposit or the renowned Ranger uranium mine, which produced 300 million pounds of uranium over 40 years.
DEV shares were up 13.5 per cent, trading at 29.5 cents at 1:54 pm AEDT.
