DevEx (ASX:DEV) shines with high-grade uranium success at Nabarlek

As uranium prices rise, driven by global decarbonisation efforts, DevEx Resources (ASX:DEV) is making significant progress in Australia’s uranium exploration space.

The company’s 100%-owned Nabarlek Uranium Project in the Northern Territory, known for Australia’s highest-grade historical uranium mine, is showing promising results, particularly with recent drilling at the U40 prospect.

Drilling at the U40 Fault Zone has delivered exceptional intercepts, including 27.8 metres at 1,005 ppm U₃O₈, with narrow yet incredibly high-grade veins, such as 0.3 metres at 55,110 ppm.

According to Managing Director Brendan Bradley, “These results confirm the presence of exceptionally high-grade uranium mineralisation associated with a series of fault zones.”

The location of the Nabarlek project within the world-class Alligator Rivers Uranium Province (ARUP) further strengthens its prospects.

The ARUP has over 600 million pounds of identified uranium, and DevEx is one of the few ASX-listed companies actively exploring in this highly prospective region.

With this strong foundation, DevEx’s focus on structurally controlled, high-grade uranium deposits has positioned it to capitalise on the growing demand for uranium, particularly as the world shifts toward nuclear energy for cleaner power.

The recent results are not just impressive in grade, but in scale as well.

Drilling has mapped a network of fault zones, including both steep and flat-dipping structures, confirming continuity of the uranium mineralisation.

Step-out drilling in the U40 prospect has expanded the system’s footprint, albeit with slightly weaker grades in some areas, as noted in DevEx’s latest report.

The company’s aim is now to review the geological controls that led to these high-grade discoveries.

With drilling complete, the focus shifts to analysis.

As DevEx reports, “With the program now complete, DevEx is reviewing these results alongside the broader drill program to understand the key geological controls to the higher-grade uranium mineralisation encountered in drilling along the U40 and Nabarlek Fault Zones.” This will shape the company’s next steps as they prepare for further follow-up drilling and resource definition.

While the uranium market is prone to fluctuations, the Nabarlek project’s high-grade potential—paired with its location in one of the most significant uranium provinces globally—sets it apart.

As the nuclear energy narrative gains momentum, DevEx is well-positioned to emerge as a leader in Australia’s uranium sector.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.