Devex Resources – ASX: DEV, OTCMKTS: UREQF

DevEx Resources Limited (Stock Symbol – ASX: DEV, OTCMKTS: UREQF), together with its subsidiaries, engages in the exploration and evaluation of mineral properties in Australia.

It primarily explores for uranium, copper, lithium, diamond, gold, and other base metals.

The company holds 100% interests in West Arnhem-Nabarlek project that covers an area of approximately 5,963 square kilometers tenement packages located in the Alligator Rivers Uranium Province, Northern Territory; the Junee Project, which covers an area of approximately 281.3 square kilometers situated in the Lachlan Fold Belt of New South Wales; and Bogong project that covers an area of approximately 53 square kilometers situated in the Lachlan Fold Belt of New South Wales.

DevEx Uranium Projects
Uranium Projects. Source: DevEx Resources

From the DevEx Resources website:

In 2019, the Company completed a 10-hole reverse circulation (RC) and diamond drilling program totalling 2100m. This new drilling confirmed the presence of uranium mineralisation beneath the historical Nabarlek Mine and on the western side of the U40 Prospect.

“Following the completion of the drilling campaign in August 2019, DevEx has progressed its review of exploration data from the Nabarlek area for signs of conductors beneath the dolerite. The aim is to refine targets for potential future drilling.”

DevEx remains strongly leveraged to benefit in an improving uranium market.

“More than US$10 billion worth of uranium (in-ground value) has been produced from the ARUP over the past 30 years, resulting in the ground being tightly controlled by major companies with a sole focus on uranium. In addition, historical exploration has been heavily focused on uranium mineralisation, with the potential for multi-metal mineral systems largely overlooked.”

“DevEx completed a major review of the broader exploration potential of the West Arnhem Project in 2017. This included a re-evaluation of other metal deposits discovered historically (e.g. the 756,000oz Coronation Hill gold and PGE deposit and the 378,000oz Jabiluka II gold deposit) and a reassessment of historical ore grade copper and gold intercepts which were encountered during uranium-focused exploration campaigns.”

It also owns 100% interests in Oscar and Mount Hann project that consist of eight exploration license applications, which covers an area of approximately 2,700 square kilometers located in the Kimberley Region of Western Australia; and the Dundas project situated near Norseman in Western Australia.

The company was formerly known as Uranium Equities Limited and changed its name to DevEx Resources Limited in November 2017.

DevEx Resources Limited is headquartered in West Perth, Australia.

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