Devex Resources Limited (ASX:DEV, OTC:UREQF, FRA:BUU) has intersected strongly altered basement rocks and a chlorite-hematite fault breccia at the KP Prospect as the company advances the first phase of a multi-year exploration campaign across its Nabarlek Uranium Project in the Northern Territory.
One month into the 2026 dry-season campaign, DevEx has drilled three priority targets, lodged applications to bring another five targets to drill-ready status and advanced a further five prospects through mapping and surface geochemistry.
The work is designed to identify the structural, geological and alteration signatures associated with unconformity-style uranium deposits, including evidence that uranium-bearing fluids have moved through prospective fault systems.
At KP, drilling has passed through about 100 metres of sandstone cover into strongly altered basement rocks displaying geological and alteration characteristics similar to those around the historical Nabarlek deposit.
KP drilling tests Nabarlek-style setting
Diamond hole NBDD26003 intersected a 10-metre-wide fault breccia within sandstone above the unconformity, containing semi-massive chlorite and minor hematite.
While the hole appears to have passed above the primary target, DevEx considers the alteration encouraging because similar chlorite alteration occurs around preserved unconformity-style uranium systems.
Additional diamond holes are now planned to test where the structure is projected to cross beneath the unconformity into a geological position comparable with that hosting the Nabarlek deposit.
Managing director Marnie Finlayson said the early drilling was beginning to answer key questions around structure, host rocks and whether the geological system showed the characteristics required for uranium mineralisation.
“At KP we are drilling into altered basement rocks that look a great deal like the rocks that host Nabarlek,” she said.
Big Radon returns shallow uranium
First-pass drilling at Big Radon has also identified a roughly 20-metre-wide fault zone along the western side of a three-kilometre radiometric and radon anomaly.
Hole NAR26002 intersected 1.6 metres at 680 ppm uranium equivalent (eU3O8) from 26 metres, including 0.4 metres at 1,041 ppm eU3O8.
The uranium-equivalent grades were derived from calibrated downhole gamma measurements, with laboratory assays still pending. DevEx is assessing structural logging from the associated diamond drilling before deciding whether additional holes are warranted during the current campaign.
At Sandfire, reverse circulation drilling is testing the projected continuation of the Angularli Fault Zone along strike from Deep Yellow Ltd (ASX:DYL)'s Angularli uranium deposit, with drilling expected to progress before the rig moves to Nabarlek North.
New Caramal targets emerge
DevEx is also generating new drill targets around the Caramal uranium deposit through the relogging of historical drill core.
The work has identified what may represent a down-faulted northern continuation of the breccia and dolerite sequence associated with the existing uranium mineralisation, in an area where historical drilling was relatively sparse.
DevEx lodged applications with the Northern Territory regulator in June to drill this target and four others and is awaiting approvals.
Hyperspectral survey adds to target pipeline
A detailed airborne hyperspectral survey was flown across the granted Nabarlek tenements during August, targeting alteration signatures along regional uranium-bearing fault corridors including Khyber Pass, Nabarlek and Angularli/Quarry.
Processing is underway, with first-pass results expected in September and the data to be integrated with existing geological and geophysical datasets to prioritise future targets.
DevEx is also progressing access to priority tenement applications at Mustang and Junction, where anthropological surveys are scheduled for September as part of discussions with the Northern Land Council and Traditional Owners.
About the company
DevEx Resources Ltd is an ASX-listed exploration company focused on uranium discovery across its district-scale Nabarlek Uranium Project in the Northern Territory.
The company has consolidated its land position through tenement acquisitions from Alligator Energy and Rio Tinto and is advancing a multi-year exploration strategy combining drilling, geophysics, geological mapping, surface geochemistry and remote-sensing techniques across a broad pipeline of uranium targets.