InvestSMART

Barkly Rare Earths Limited (ASX:BAK)

ALERT: Price-sensitive ASX Announcement for BAK
Current share price for BAK : $0.220 -0.005 (-2.22%)+
Announcement
Release
18 Mar 2026 8:25AM
Price at Release
$0.225
Full Release
download
Summary
DevEx Resources Limited continues to make strides at the Murphy West Uranium Project in Northern Territory, Australia, through its strategic exploration efforts. The company has identified additional kilometre-scale soil anomalies indicative of potential uranium mineralization, using Pathfinder Indices to highlight promising targets. The project is backed by agreements with Barkly Rare Earths Limited and spans a vast area within the McArthur Basin. Exploration results support the potential for both unconformity-type and Westmoreland-style uranium deposits, and preparations are underway for a significant drill program scheduled for 2026. The project gains further strategic importance with the recent classification of uranium as a critical mineral by the Northern Territory government.
Key Points
  • DevEx Resources Limited (ASX: DEV) has identified additional kilometre-scale soil anomalies at the Murphy West Uranium Project in Northern Territory, Australia.
  • The project is being explored under three separate earn-in agreements with Barkly Rare Earths Limited (ASX: BAK) and other partners.
  • The Murphy West Project spans an area of approximately 10,000 km2 along the south-eastern margin of the McArthur Basin.
  • A recent soil geochemical sampling program has outlined new multi-element soil anomalies similar to those at Laramide’s Junnagunna Uranium Deposit.
  • DevEx's exploration strategy uses Pathfinder Indices to identify and prioritize radiometric and structural targets.
  • The project area includes both unconformity-type and Westmoreland-type uranium targets.
  • DevEx is preparing for a drill program in 2026, with several targets considered ready for drilling.
  • The recent inclusion of uranium to the Northern Territory government’s New Critical Minerals list supports the project's strategic importance.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.