DevEx Resources Limited (ASX:DEV)

DevEx Resources Limited provided an exploration update on its 100%-owned Nabarlek Uranium Project in the Northern Territory, describing the first phase of a sequenced multi-year uranium discovery programme aimed at advancing a target-rich pipeline using an unconformity-style uranium exploration model. During the first month of the 2026 dry season campaign, DevEx drilled three priority prospects and advanced several others through mapping, surface geochemistry and a new airborne hyperspectral survey. At KP, drilling passed through about 100 metres of McArthur Basin sandstone into strongly altered basement rocks comparable to those near the Nabarlek deposit, and diamond hole NBDD26003 intersected a chlorite-hematite altered fault breccia above the unconformity, prompting follow-up drilling to test the projected structure beneath the unconformity. At Big Radon, first-pass drilling confirmed a roughly 20-metre-wide north-trending fault zone and intersected shallow uranium mineralisation of 1.6m at 680ppm eU3O8 from 26m including 0.4m at 1,041ppm eU3O8, with assays pending. At Sandfire, RC drilling commenced to test the projected extension of the Angularli Fault Zone along strike from Deep Yellow’s Angularli deposit. Around Caramal, relogging of historical core identified a possible down-faulted northern continuation of the host breccia and dolerite associated with the Caramal uranium deposit, and DevEx has lodged drilling applications for this and other targets while also using mapping and ASTER ferric-oxide reprocessing to trace hematite alteration regionally. The company also reported progress on priority tenement applications at Mustang and Junction, supported by Traditional Owner consent for anthropological surveys, and said it remains well funded to continue the programme and release further drilling, assay and hyperspectral results progressively.