DevEx Resources Limited (ASX: DEV) has made a successful start to the 2023 drilling campaign at its 100%-owned Nabarlek Uranium Project, located in the heart of the world-class Alligator Rivers Uranium Province (ARUP) in the Northern Territory, Australia.
The ongoing 2023 Reverse Circulation (RC) drill campaign at the Nabarlek Uranium Project in the NT is delivering exciting uranium results at several prospects surrounding the historical Nabarlek Uranium Mine (24Mlbs @ 1.84% U3O8 produced).
DevEx is currently prioritising its drilling campaign along two major uranium-bearing fault zones, the Nabarlek Fault (the Nabarlek South and Nabarlek North Prospects) and the U40 Fault (the U40 and U42 Prospects).
Both fault zones are known to host high-grade uranium mineralisation, including the former Nabarlek Uranium Mine, considered Australia’s highest-grade uranium mine with past production of 24Mlbs @ 1.84% U3O8.
Recent Reverse Circulation (RC) drilling at both the U40 and Nabarlek South Prospects has intersected significant unconformity-associated uranium mineralisation in strongly altered basement rocks, either at the unconformity or in faults beneath. An expanded drill programme to follow up these results is now underway.
The discovery of large, high-grade uranium deposits similar to either the Nabarlek Uranium Deposit or the nearby world-class Ranger Uranium Mine – which produced 300Mlbs @ 0.23% U3O8 over 40 years (‘Ranger-type’) – remains the priority focus for DevEx.
Our 2023 exploration campaign is off to a great start with significant uranium intercepts returned in multiple holes at several prospects. The focus of step-out and in-fill drilling is along two key corridors – one along trend from the historic Nabarlek Mine, the other to the north-east along the U40-U42 trend,” DevEx Managing Director, Brendan Bradley, said.
“Apart from the growing footprint and scale of the mineralisation, we are also excited to see new high-grade mineralisation being encountered at the unconformity between Kombolgie Sandstone and the regionally significant Cahill Formation – a classic geological host to some of the largest deposits in the district such as the world-class Ranger Uranium Mine. These exciting developments have prompted us to expand and extend the current drilling programme.”
