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DevEx Resources Limited has launched its 2026 drilling campaign at the wholly-owned Nabarlek Project, situated in the Alligator Rivers Uranium Province of the Northern Territory. The company plans to execute approximately 15,000 metres of reverse circulation and diamond drilling over 66 holes, targeting a series of drill-ready uranium prospects. This campaign marks the initial phase of a multi-year exploration strategy aimed at establishing a maiden Mineral Resource Estimate within one of the globe's most promising uranium provinces.
Key Points
- DevEx Resources Limited (ASX:DEV) has begun its 2026 drilling program at the Nabarlek Project in the Northern Territory.
- The initiative includes about 15,000 metres of reverse circulation and diamond drilling across 66 holes.
- Early drilling targets priority prospects such as Big Radon, KP, and Sandfire within uranium-bearing fault corridors.
- The campaign aims to achieve a maiden Mineral Resource Estimate as a near-term value milestone.
- Emerging prospects along the Caramal Deposit fault corridors, including Orion East, are progressing with drilling permits submitted.
DevEx's Strategic Footprint in the Alligator Rivers Uranium Province
DevEx Resources holds 100% ownership of the Nabarlek Project, located in the renowned Alligator Rivers Uranium Province (ARUP) of the Northern Territory. This province is recognized globally for high-grade unconformity uranium systems and has historically been among Australia's most prolific uranium-producing regions. The company's extensive landholdings in this premier uranium jurisdiction form a significant foundation for exploration and development efforts.
The Nabarlek Project includes multiple exploration tenements covering a district-scale area, granting DevEx systematic access to extensive prospective ground within a proven mineral province. This position enables advancement of a pipeline of targets across various fault corridors and structural settings, each characterized by distinct geochemical signatures and geological features indicative of uranium mineralization potential.
Overview of the 2026 Drilling Program
The 2026 drilling campaign is structured to methodically evaluate a carefully selected pipeline of drill-ready targets. Encompassing roughly 15,000 metres across 66 holes, the program combines reverse circulation (RC) and diamond drilling methods. This substantial exploration commitment initiates the first phase of a targeted multi-year strategy at Nabarlek.
Drilling targets are informed by integrated geophysical and geochemical datasets, including gravity, magnetic, and radiometric surveys. The company's 2024 airborne radiometric survey provided critical pathfinder data that shaped target prioritization. This data-driven methodology aims to optimize drilling efficiency by focusing on prospects exhibiting the strongest geological indicators for uranium mineralization.
Big Radon Prospect: Three-Kilometre Radon Anomaly Along the Nabarlek Fault Corridor
Big Radon is a primary drill-ready target within the 2026 program, defined by a three-kilometre-long undrilled radon anomaly along the Nabarlek Fault Corridor. The 2024 airborne radiometric survey recorded the highest radon emissions at this site across the surveyed region. Radon emanation serves as a pathfinder for uranium, as radioactive decay of uranium produces radon gas detectable by sensitive radiometric instruments.
Additional ground gravity surveys have refined structural understanding at Big Radon, revealing cross-faulting and structural dislocations coinciding with peak radon signals. These structural complexities are significant as they may facilitate uranium concentration by disrupting fluid pathways and creating zones favorable for chemical precipitation. The combination of strong radiometric signatures and supportive structural features positions Big Radon as a high-priority initial drill target.
KP Prospect: Two-Kilometre Radon Anomaly Between Historic Nabarlek Mine and U40 Prospect
Situated strategically between the historic Nabarlek Mine and the U40 Prospect, the KP prospect features two northwest-trending faults identified via ground gravity surveys. These faults are interpreted as "Nabarlek-type," resembling structures known to host uranium mineralization in the region. The faults underlie a two-kilometre radon anomaly detected by radiometric surveys.
Cross-cutting structures within the fault system enhance the prospect's geological significance, as they can disrupt fault-controlled fluid flow and create localized zones conducive to uranium mineralization. The complex structural architecture at KP warrants systematic drilling evaluation, making it a second priority target in the initial drilling phase.
Sandfire Prospect: Extension of Deep Yellow's Angularli Deposit onto DevEx Tenements
The Sandfire prospect lies along strike from Deep Yellow Limited's Angularli Deposit, which holds a Mineral Resource Estimate of 32.9 million pounds of uranium oxide at an average grade of 1.09% U8O8, a globally high-grade deposit. Exploration has traced the Angularli Fault Zone hosting this mineralization onto DevEx's tenements, suggesting possible continuity of the mineral system.
At Sandfire, a 1.6-kilometre pathfinder anomaly and a favorable structural-magnetic trap have been identified at the intersection of the Angularli Fault Zone and a cross-cutting fault. The magnetic trap indicates hydrothermal alteration and potential uranium mineralization. This combination makes Sandfire an attractive third priority target for 2026 drilling, offering a chance to test for extensions of high-grade mineralization onto DevEx ground.
Advancing Emerging Targets Along Caramal Deposit Fault Corridors Including Orion East
Beyond the initial targets, DevEx is progressing emerging prospects along fault corridors adjacent to the historic Caramal Deposit. Orion East is among the most advanced, with recent rock-chip samples returning up to 0.31% U8O8 from fault breccia.
Drilling permits for Orion East have been submitted, positioning it for potential inclusion in the current exploration season. Fault breccias are prospective for uranium as they can host hydrothermal fluids and mineral deposits. The 0.31% U8O8 assay provides direct evidence of surface uranium mineralization and suggests potential for economic concentrations at depth. The advanced permitting indicates possible program expansion subject to operational and funding considerations.
Integrated Geophysical Data Driving Target Identification
The drilling campaign is supported by a comprehensive dataset combining gravity, magnetic, and 2024 airborne radiometric survey data. Gravity surveys detect subsurface density variations linked to structural features and hydrothermal alteration; magnetic surveys highlight magnetic minerals associated with ore deposits; and radiometric data directly detect radiation from uranium and related elements, with radon serving as a uranium pathfinder.
By integrating these datasets, DevEx has pinpointed locations where multiple geophysical indicators converge, enhancing the probability of successful drilling outcomes. This multi-disciplinary approach exemplifies modern uranium exploration best practices aimed at maximizing efficiency and success.
Maiden Mineral Resource Estimate Targeted as Key Milestone
DevEx has set defining a maiden Mineral Resource Estimate for the Nabarlek Project as a near-term value milestone. Such an estimate quantifies tonnage and grade based on drilling and geological interpretation, representing a critical step toward resource development. The 2026 drilling and subsequent phases aim to gather sufficient data to support this milestone.
Achieving a maiden Resource Estimate would significantly advance the project's economic validation and likely enhance investor confidence. While no specific timeframe was provided, the multi-year exploration strategy suggests a medium-term target for this achievement.
Funding Status and Operational Outlook
DevEx Managing Director Marnie Finlayson stated the company maintains a robust funding position to support the extensive drilling campaign and forthcoming news flow. Although exact funding details were not disclosed, the initiation of a 15,000-metre drilling program indicates adequate working capital.
Management anticipates sustained activity and regular updates in the coming months, with drilling results from the initial phase to be reported as available. The multi-year strategy reflects a commitment to ongoing exploration rather than a single campaign, consistent with best practices for early-stage projects in prospective mineral provinces.
District-Scale Exploration Strategy at Nabarlek
DevEx's 2026 campaign signifies a strategic shift to a district-scale exploration approach at Nabarlek. Instead of isolated prospect testing, the company is evaluating multiple targets as an integrated pipeline within a unified exploration framework. Management highlighted this as the first time the company is assessing its ground "as a single, district-scale pipeline of targets, pulling together gravity, magnetic and radiometric datasets across our expanded footprint." This strategy leverages the expansive landholdings to enhance discovery potential.
This district-scale methodology is particularly suited to the Alligator Rivers Uranium Province, where multiple high-grade deposits occur over a broad area, indicating widespread favorable geological and structural conditions. By concurrently testing multiple geophysically defined targets, DevEx aims to maximize discovery chances within its tenure. Although resource-intensive, this approach aligns with industry best practices for greenfields uranium exploration in major mineral provinces.
