DevEx Unveils New Uranium Targets Backed by $160K Government Grant
DevEx Resources has identified multiple large-scale uranium exploration targets at its Nabarlek Project, supported by government co-funding and advancing ground surveys. Meanwhile, soil geochemistry testing is underway at Murphy West, signalling sustained exploration momentum.
- Multiple new uranium targets at Nabarlek including Big Radon and KP Prospects
- Ground-based gravity surveys commenced to refine drill locations
- Northern Territory Government co-funding of $160,000 secured for drilling
- Maiden exploration preparations underway at Sandfire and Spitfire Prospects
- Soil geochemistry program active at Murphy West targeting radiometric anomalies
Exploration Momentum Builds at Nabarlek
DevEx Resources Limited continues to advance its uranium exploration efforts with the release of its June 2025 Quarterly Activities Report. The company has identified several new, large-scale uranium targets around the historical Nabarlek Uranium Mine in the McArthur Basin, including the Big Radon, KP, KP North, and Leatherhead Prospects. These targets are defined by extensive radon track etch anomalies and hyperspectral alteration signatures, suggesting promising mineralisation zones.
To better understand the subsurface geology and pinpoint priority drill sites, DevEx has initiated a ground-based gravity survey focused on mapping prospective fault structures beneath these anomalies. This survey is a critical step in refining exploration targets ahead of drilling campaigns.
Government Support and Strategic Targeting
Further, the company is preparing for maiden exploration activities at the Sandfire and Spitfire Prospects, located along the Angularli Fault Zone near Deep Yellow Limited’s Angularli Deposit, which hosts a significant uranium resource. DevEx’s approach includes re-logging and chemical analysis of historical drill core from the Nabarlek Mine area to identify geological features unique to uranium-hosting rocks, enhancing targeting precision.
Expanding Footprint at Murphy West
Beyond Nabarlek, DevEx is progressing exploration at the Murphy West Uranium Project, where a soil geochemistry program is underway. This program aims to test high-priority radiometric anomalies identified in recent airborne surveys, some of which are analogous to those that led to discoveries at the nearby Westmoreland uranium deposits. The Murphy West project tenure spans approximately 10,000 square kilometres under earn-in agreements, reflecting DevEx’s commitment to expanding its uranium portfolio.
Financial and Corporate Overview
During the quarter, DevEx incurred $404,922 in exploration and evaluation expenditure, maintaining a solid cash position of $7.1 million at quarter-end. The company also reported administrative costs of $318,346 and noted the lapse of 750,000 unlisted options alongside the cancellation of 822,622 performance rights that did not meet vesting criteria. DevEx holds strategic equity stakes in Lachlan Star Limited and entX Limited, diversifying its interests within the resource and technology sectors.
Overall, the report reflects a company actively advancing its uranium exploration pipeline with strong government backing and a disciplined financial approach, positioning itself to capitalise on the growing demand for uranium in the global energy transition.
Bottom Line?
With government funding secured and exploration ramping up, DevEx is poised for a pivotal drilling season that could reshape its uranium prospects.
Questions in the middle?
- What initial drilling results can investors expect from the Big Radon and KP Prospects?
- How might the re-logging of historical drill core influence future exploration strategies at Nabarlek?
- What is the timeline and potential impact of maiden exploration at Sandfire and Spitfire Prospects?