Some really positive PR coming through lately... understandably the majority of it is focused on DEV's Nabarlek campaign. I think it is generating a great deal of interest in the market and with out a doubt is resulting in the increased buying.
Below is some snippets of some recent articles... (I don't think anyone has shared these yet?) I've also attached the links but if they don't show up it's not me, it's cause HC don't like it!
Nabarlek:
It has been the high-grade uranium hunt that has been moving the dial for DeVex in recent days, with the stock moving from 30c to 39c in response to drilling around Nabarlek returning some very high-grade hits.
Drilling at the Nabarlek South prospect returned a 10.7m hit from 123.4m that was interpreted to be grading 1.2% uranium equivalent using downhole gamma readings, including a 3.2m intersection grading a spectacular 3.05% equivalent.
A hole at the North Buffalo prospect returned a 9.1m intersection from 50.5m grading 0.15% uranium equivalent, including 0.4m grading 0.8% uranium equivalent.
In an industry that usually talks in parts per million mineralisation and payable in pounds, the use of percentages goes to the high-grade nature of the prospects.
The Nabarlek South hit extended known high-grade mineralisation 25m down-dip. Doesn’t sound like much but in the context of the historic Nabarlek deposit mined in the 1970s, it actually means a lot.
Today’s interest is in Nabarlek’s status as one of the highest grade uranium deposits ever mined. It produced 24 million pounds from less than 800,000 tonnes of ore grading a spectacular 1.84% uranium.
Mining of the two shallow lenses of mineralisation took all of four months although processing was spread over eight years because at the time there were issues with selling uranium to France, the contracted buyer which had a habit back then of nuclear bomb testing in the Pacific.
If it were being mined and processed at today’s uranium price, the 24m/lbs would generate around $A1.6 billion in revenue. It shouldn’t be done but what the heck – it would be like having 640,000 ounces of gold sitting on the pad within four months.
It is remarkable stuff. The two high grade lenses mined were no more than 30m and 75m each in length, which is why DevEx coming up with a 25m down dip extension at Nabarlek South is kind of interesting.
Nabarlek itself was super, super sweet. Finding some more high-grade lenses is what the DevEx hunt is all about.
Despite the ARUP’s (Alligator Rivers) high-grade uranium mineralisation, the region has not been an exploration hotspot for decades. But the work of DeVex and its peers means it is back on the radar for investors, as DevEx’s run from 30c to 39c in quick fashion demonstrates.
There is a lot more drilling to do before it can be said DevEx is on to another Nabarlek. To that end, it will soon roll up a second rig to begin fan-drilling around the high-grade hit at Nabarlek South, as well as more drilling at North Buffalo.
FYI - I highlighted the part about the four months to mine 24 million pounds - as this, IMO, is very significant. If DEV manage to discover more of these super high grade U pods then, with the fact DEV have a mining license, means U sales & revenue generation could be much much closer than a lot of people and the broader market realise. Imagine that, $1.6bn revenue, all mined out in 4 months. Crazy to think... crazy to think what this could mean for the DEV SP...
And lastly, DEV has shared an updated Research Report, authored by Gavin Wendt for his MineLife bulletin:
(20min delay)