DevEx is targeting high grade uranium at the prospective Nabarlek Uranium Project, a dominant +4,700km2 tenement package located in the Alligator Rivers Uranium Province (ARUP) in the Northern Territory (Figure 1). The ARUP is considered amongst the world’s most prospective areas for uranium mineralisation, with over 500 million pounds of uranium (U3O8) identified in mined and unmined deposits.

At the heart of the project lies the historical Nabarlek Uranium Mine, considered Australia's highest-grade uranium mine with a previous production of 24 Mlbs @ 1.84% U3O8.  The project includes the granted Narbalek Mining Lease.

Figure 1: Location

Figure 1: Nabarlek Project location and nearby uranium deposits.


The 2023 exploration campaign returned high-grade uranium assay results from the prospective U40 and Nabarlek Faults, surrounding the former Nabarlek Uranium Mine – considered Australia’s highest-grade uranium mine. Both faults have been the primary exploration targets for the 2023 field season due to the high-grade uranium mineralisation associated with these structures.

Figure 2

Figure 2: DevEx’s 2023 drilling program targeted multiple uranium prospects surrounding the historical Nabarlek Uranium Mine along the Nabarlek and U40 Faults.

At the U40 Prospect, RC and diamond drilling completed by DevEx has defined significant uranium mineralisation along the U40 Fault. Analysis of geology, alteration and assay results indicates the presence of two zones of north-south trending uranium mineralisation – a steep, east-dipping “East Zone” and a shallow west-dipping “West Zone” (Figure 3). 

High-grade uranium assays confirm uranium equivalent mineralisation on the East Zone of the U40 Fault, including:

  • 5.0m @ 0.54% (11.90 lbs/t) U3O8 from 257m (RC220), including:
    • 3.0m @ 0.82% (18.08 lbs/t) U3O8 
  • 7.0m @ 0.37% (8.16 lbs/t) U3O8 from 81m (RC221), including:
    • 3.0m @ 0.58% (12.79 lbs/t) U3O8 
  • 5.0m @ 0.30% (6.61 lbs/t) U3O8 from 60m (RC229), including:
    • 1.0m @ 0.59% (13.01 lbs/t) U3O8 

Figure 3

Figure 3: Section 8644750mN (A-A’) – Two zones of mineralisation are apparent at U40. Recent assays are from the East Zone including the high-grade intercept in hole RC220 and indicate continuation of the uranium system at depths not yet tested.

At Nabarlek North, significant uranium assays were received from drilling north of the historic Nabarlek Uranium Mine, including:

  • 11.0m @ 0.15% (3.31lbs/t) U3O8 from 36m (RC173), including:
    • 1.0m @ 0.68% (14.99 lbs/t) U3O8 
  • 13.0m @ 0.28% (6.17 lbs/t) U3O8 from 41m (RC174), including:
    • 1.0m @ 0.73% (16.09 lbs/t) U3O8    
  • 5.0m @ 0.14% (3.09 lbs/t) U3O8 from 33m (RC179)

These shallow uranium intercepts all occur at the unconformity between the overlying sandstone and underlying basement rocks, which continues onto the granted Nabarlek Mining Lease (including hole RC179) where drilling is more sporadic. 

In addition to the U40 Prospect, follow-up drilling of uranium intercepts inside the Mining Lease at Nabarlek North is considered a high-priority focus for the 2024 drilling campaign. 

Figure 4

Figure 4: Nabarlek North and South – Location of 2023 RC drill holes, over recent ground gravity survey (Bouguer).

Next Steps

The Company has contracted two rigs (RC and DD) for its 2024 drill programme which is expected to commence in mid-May 2024 following receipt of regulatory approval.

For the latest project overview, view our ASX Announcements and Investor Presentation.


Related Documents

Click here for Variation to Mine Management Plan - West Arnhem

Click here for Mine Management Plan - West Arnhem

Click here for Mine Management Plan - Nabarlek