Location
Alligator Rivers Uranium Province, Northern Territory
Ownership 100%
DevEx is targeting high grade uranium at the prospective Nabarlek Uranium Project, a dominant +4,700km2 tenement package located in the Alligator Rivers Uranium Province (ARUP) in the Northern Territory (Figure 1).
The ARUP is considered amongst the world’s most prospective areas for high-grade uranium mineralisation, with over 600 million pounds of uranium (U3O8) identified in mined and unmined deposits.
At the heart of the project lies the historical Nabarlek Uranium Mine, considered Australia’s highest-grade uranium mine with a previous production of 24 Mlbs @ 1.84% U3O8. The project includes the Narbalek Mining Lease and surrounding tenure.
Exploration
The discovery of large, high-grade fault hosted unconformity-type uranium deposits, similar to either the Nabarlek Uranium Deposit or the nearby world-class Jabiluka Uranium Deposit and Ranger Uranium Mine – which produced 300Mlbs @ 0.23% U3O8 over 40 years (‘Ranger type’) – remains the priority focus for DevEx.
A major campaign of Reverse Circulation (RC) and diamond drilling (DD) is underway,
following up previously reported high-grade uranium intercepts from prospects along the U40 Fault and the Nabarlek Fault Corridor, surrounding the historical Nabarlek Uranium Mine.
Next Steps
Exciting new target areas have been identified for in-fill and step-out drilling, plus new IP targets to be drill tested at Coopers South as exploration continues along the U40 Fault.
View our latest Investor Presentation or ASX Announcements for the most up to date news.
Why Uranium?
Clean energy
Uranium is considered a vital component of the clean energy solution due to its ability to generate large amounts of electricity with minimal greenhouse gas emissions.
New and innovative technologies offer improved safety and efficiency, making nuclear power a sustainable, reliable and stable energy source.
Increased Demand
Climate change policy targets and increasing population are driving a global need to find low-carbon, large-scale power sources.
As a result, there has been a significant increase in the number of nuclear reactors being restarted and under construction. These reactors must be fuelled by uranium.
As demand for uranium grows, new discoveries will be increasingly critical.
Supply Constraints
Uranium production has been subject to geopolitical tensions and mine closures, with the World Nuclear Association predicting that current supply gaps are forecast to increase and extend to 2040 and beyond.
Supply constraints and increasing demands have stimulated uranium prices to recently reach 16-year highs in early 2024.
Policy Support
Changes in government energy policies are seeing support for nuclear power expansion and carbon pricing mechanisms that incentivise low-carbon energy sources, such as uranium-fuelled nuclear power.
At COP28, 22 countries launched a declaration to triple nuclear energy by 2050.
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