450 Soil Assays Reveal Multi-Element Uranium Targets at DevEx’s Murphy West Project

Exploration Breakthrough at Murphy West

DevEx Resources Limited (ASX, DEV) has reported encouraging early results from its soil geochemistry program at the Murphy West Uranium Project in the Northern Territory. The preliminary assays have revealed several kilometre-scale anomalies characterized by multi-element pathfinder signatures closely matching those found above the Junnagunna Uranium Deposit in Queensland’s Westmoreland region. This discovery marks a significant step forward in DevEx’s exploration campaign within the McArthur Basin, a region renowned for its uranium potential.

Geochemical Parallels to Established Deposits

The anomalies identified include elevated levels of lead, copper, and beryllium; elements known to be closely associated with uranium mineralisation in the McArthur Basin. These pathfinder elements have proven effective in pinpointing uranium deposits even when surface uranium signatures are masked by regolith or volcanic cover, as demonstrated by the Junnagunna deposit. DevEx’s collaboration with Laramide Resources Limited, which operates the Junnagunna deposit, has helped validate this targeting approach.

Strategic Location and Geological Context

Murphy West covers approximately 10,000 square kilometres along the southern margin of the McArthur Basin, a geological setting analogous to Canada’s Athabasca Basin, home to some of the world’s largest uranium mines. The basin already hosts over 700 million pounds of uranium endowment, and DevEx’s tenure overlaps key stratigraphy that hosts known uranium mineralisation, including extensions of the Westmoreland Conglomerate and associated volcanic units.

Next Steps, Drilling and Further Sampling

With over 650 soil samples collected and assays for 450 returned, DevEx is actively expanding its surface sampling to refine and enlarge these priority targets. The company is preparing drill permit applications with the Northern Territory regulator, aiming to commence a multi-target shallow drilling program at the start of the 2026 field season, around April. This drilling phase will be critical to testing the subsurface extent and grade of the uranium mineralisation suggested by the geochemical anomalies.

Outlook and Market Implications

DevEx’s Managing Director, Todd Ross, highlighted the company’s dominant footprint in the McArthur Basin and expressed optimism about the potential for a company-changing uranium discovery. Given the global push for clean energy and the strategic importance of uranium, these early-stage results position DevEx as a notable player in Australia’s uranium exploration landscape. Investors and analysts will be watching closely as assay results continue to flow and drilling approaches.