1.6km Uranium Target Identified at Sandfire Prospect, Drilling Planned for 2026

Strategic Uranium Prospect Emerges

DevEx Resources Limited (ASX – DEV) has announced the identification of a new high-priority uranium drill target at its recently granted Sandfire Prospect, situated north of the Nabarlek Mine in Australia's Northern Territory. This discovery is particularly significant given the Sandfire Prospect’s location within the Alligator Rivers Uranium Province, a region renowned for its rich uranium endowment and geological similarities to Canada’s prolific Athabasca Basin.

The Sandfire tenement lies approximately 2.5 kilometres along strike from the Angularli Uranium Deposit, which boasts a mineral resource estimate of 32.9 million pounds at 1.09% uranium oxide (U3O8) and is owned by Deep Yellow Limited. Notably, the Sandfire area has seen no prior exploration, making this a fresh frontier within a well-established uranium mining jurisdiction.

Compelling Geophysical and Geochemical Evidence

DevEx’s exploration team conducted a comprehensive ground-based gravity survey alongside surface geochemical sampling, including termite mound (termitaria) assays. These efforts revealed a 1.6-kilometre-long uranium target coincident with the intersection of the Angularli Fault and a northeast-trending cross fault, known as the Sandfire Fault. This structural complexity is believed to be conducive to uranium mineralisation.

Supporting the structural data, a radiometric anomaly detected via airborne surveys aligns with the fault intersection, reinforcing the prospectivity of the target. Furthermore, geochemical assays identified pathfinder element anomalies, specifically lithium and beryllium, elements closely associated with uranium mineralisation in the region, adding another layer of confidence to the exploration model.

Next Steps and Community Engagement

With Aboriginal heritage and ecological surveys completed, DevEx has submitted applications to drill both diamond and reverse circulation holes targeting the Sandfire Prospect. The company plans to commence drilling at the start of the 2026 dry season, around April to May. This drilling campaign will be critical in testing the subsurface extent and grade of the uranium mineralisation suggested by the geophysical and geochemical data.

DevEx’s approach reflects a careful balance between advancing exploration and respecting the cultural and environmental sensitivities of the region. The company operates under agreements with the Northern Land Council and Traditional Owners, ensuring community consultation and approval are integral to its activities.

Positioning Within a Global Uranium Hotspot

The Alligator Rivers Uranium Province has been a cornerstone of Australia’s uranium industry for over four decades, hosting significant deposits like Nabarlek and Angularli. The province’s geological setting, characterised by unconformity-related uranium deposits within metamorphic basement rocks, offers a compelling analogue to the world-class Athabasca Basin deposits.

DevEx’s discovery at Sandfire not only expands its footprint in this prolific region but also positions the company to potentially tap into high-grade uranium resources that could benefit from existing infrastructure and mining expertise in the area.