DevEx Ramps-up Nabarlek Uranium Project Exploration

THE DRILL SERGEANT: DevEx Resources (ASX: DEV) has commenced a multi-pronged exploration program across the company’s Nabarlek uranium project, located in the Alligator Rivers Uranium Province (ARUP) in the Northern Territory.

DevEx Resources talked up the Alligator Rivers Uranium Province, saying it is considered amongst the world’s most prospective for uranium mineralisation, with over 500 million pounds of uranium (U3O8) identified in mined and unmined deposits.

DevEx recently carried out a comprehensive technical review of historical pre- and post-mine exploration data covering the Nabarlek project area, from which it has identified several exploration opportunities for uranium, copper and gold mineralisation.

The company explained the new exploration campaign will systematically test an extensive suite of targets it has identified from a project-wide technical review that commenced earlier this year in response to the improving outlook for the global uranium sector.

The new targets surround the historic high-grade Nabarlek uranium mine (past production: 24Mlbs at 1.8 per cent uranium) within the company’s granted Nabarlek Mining Lease and surrounding exploration tenements.

“Some months ago, we commissioned a project-wide technical review to re-evaluate the potential of Nabarlek and the surrounding tenure,”

“This has led us to revisit one of the company’s foundation assets, which comprises a dominant footprint in the heart of one of the world’s most endowed uranium provinces.

“We have been fortunate to inherit a treasure trove of data surrounding this significant historical uranium mine site.

“Our compilation and subsequent review demonstrates a wide range of exploration targets supported by numerous occurrences of uranium mineralisation throughout the project.

“Nabarlek is not a one-prospect project, it is an extensive piece of uranium-copper-gold real estate within a Tier-1 uranium province.

“We look forward to getting back on this exciting ground for a new round of exploration.”