How DevEx’s 2026 Drilling Plans Could Transform Uranium and Rare Earth Prospects
DevEx Resources has made significant progress in its uranium and rare earth exploration programs, completing key surveys and preparing for drilling in 2026. Early assay results and metallurgical tests highlight promising prospects across its Northern Territory and Queensland projects.
- Completed gravity and geochemical surveys at Nabarlek uranium prospects
- Submitted drilling permit applications for Sandfire and Spitfire targets
- Promising multi-element anomalies identified at Murphy West uranium project
- Column leach test work underway on Kennedy Rare Earth Project bulk samples
- Maintained a solid cash position of $3.26 million at quarter end
Exploration Momentum at Nabarlek Uranium Project
DevEx Resources Limited has intensified its exploration activities at the Nabarlek Uranium Project, located on the north-western margin of the McArthur Basin in the Northern Territory. The company completed detailed ground-based gravity surveys over the Sandfire, Big Radon, and KP prospects to map prospective fault structures that could host high-grade uranium mineralisation. These surveys complement earlier airborne radiometric and radon track etch data, refining drill targets ahead of the 2026 field season.
Applications for reverse circulation and diamond drilling permits have been lodged for the Sandfire and Spitfire prospects, with heritage surveys completed and final reports pending. Surface geochemical sampling is ongoing at Sandfire to identify pathfinder hotspots that may indicate uranium mineralisation. This integrated approach aims to prioritise drilling locations to maximise the chances of significant discoveries.
Encouraging Assay Results at Murphy West
At the Murphy West Uranium Project, DevEx has made substantial progress in its surface geochemical sampling program, collecting over 650 soil samples with assay results received for 450 to date. Early results reveal several kilometre-scale multi-element anomalies with pathfinder geochemistry similar to that found at Laramide Resources’ Junnagunna deposit in Queensland, a known uranium resource.
The anomalies coincide with radiometric and structural targets beneath surficial cover, suggesting buried uranium mineralisation. Follow-up sampling is underway to expand these priority targets. DevEx is preparing drilling permit applications for a multi-target shallow drill program planned for April 2026, aiming to test these promising anomalies in the southern McArthur Basin.
Advancing Rare Earth Extraction at Kennedy Project
In Queensland, DevEx is progressing metallurgical test work on its 100%-owned Kennedy Rare Earth Project, which hosts an inferred mineral resource of 150 million tonnes at 1,000 ppm total rare earth oxides. Bulk samples from within the resource were sent to the Australian Nuclear Science and Technology Organisation for column leach testing using ammonium sulphate solutions. This testing builds on earlier diagnostic work and seeks to validate a low-cost heap leach extraction process for the shallow ionic adsorption clay-hosted deposit.
The results of these tests will be critical in determining the economic viability of the project’s rare earth elements, which are increasingly in demand for clean energy technologies. The Kennedy deposit’s near-surface position with no overburden offers potential operational advantages.
Financial Position and Outlook
DevEx reported exploration and evaluation expenditure of approximately $1.9 million for the quarter, alongside $570,000 in administration costs. The company ended the period with a cash balance of $3.26 million, providing a runway into the next phase of exploration. No changes were reported in tenements or farm-in agreements during the quarter.
Looking ahead, the company’s focus will be on interpreting the latest geophysical and geochemical data, finalising drill targets, and commencing drilling programs in early 2026. The seasonal wet period in the Northern Territory is expected to slow field activities temporarily, but the groundwork laid this quarter positions DevEx well for the upcoming campaign.
Bottom Line?
With drilling permits in hand and promising assay results, DevEx is poised to unlock value from its uranium and rare earth assets in 2026.
Questions in the middle?
- Will the upcoming drilling at Sandfire and Spitfire confirm high-grade uranium mineralisation?
- How will the column leach test results impact the economic feasibility of the Kennedy Rare Earth Project?
- Can the multi-element anomalies at Murphy West translate into a new significant uranium discovery?
