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DevEx has identified several large high-priority uranium anomalies at Murphy West from initial studies of a recently completed airborne radiometric and magnetic survey.
Meanwhile at Nabarlek, the company has received further high-grade assay results from recent reverse circulation (RC) and diamond drilling (DD) campaigns.
Major opportunity
Managing director Todd Ross said that, between the district-scale Murphy West project and the advanced Nabarlek project, DevEx is making good strides toward its goal of making a “company-changing” uranium discovery in northern Australia.
Murphy West and Nabarlek are both located along the margin of the McArthur Basin in the NT, an area that already hosts over 700 million pounds of uranium.
McArthur is considered analogous to Canada’s world-class Athabasca Basin and is highly prospective for large-scale unconformity-type uranium discoveries.
Survey results
“These exciting results from the first detailed, large-scale radiometric survey to be undertaken in this region have vindicated DevEx’s decision to deploy this remote-sensing exploration technique to help narrow down our search for the region’s next major uranium discovery,” Mr Ross said.
“The large-scale targets identified are analogous to both Westmoreland and Alligator River uranium deposits alike, representing exciting exploration opportunities for the company.”
“We plan to get field teams on the ground in the coming weeks to further investigate the surface expression of these targets.”
1950s discovery
Mr Ross said anomalies located by a government-funded survey back in the 1950s eventually led to the discovery of the region’s uranium deposits.
The multiple anomalies identified are located west of Laramide Resources’ (ASX: LAM) Westmoreland uranium project and range up to 2 kilometres in length, further confirming that historic potential.
DevEx will commence field activities in the coming weeks to further investigate the surface expressions of these high-priority anomalies.
Nabarlek drilling
DevEx holds an extensive tenement package in the Alligator Rivers uranium province on the McArthur Basin’s north-west margin, which includes the former Nabarlek site considered to be Australia’s highest-grade uranium mine.
DevEx is now reviewing the results of its newly completed RC and DD programs at Nabarlek, along with a broader range of uranium intercepts previously reported, to evaluate the primary geological controls of the higher-grade uranium mineralisation encountered to date and plan for the next drilling campaign.
Notably, the results have confirmed previously reported uranium-equivalent intercepts at the U40 prospect.
