Ann: High-Grade Uranium Intersected at Nabarlek, page-7

Brilliant start to the Nabarlek campaign, this should get the market to sit up and pay attention. We've got confirmation of high grade U mineralisation over a decent width and at relatively shallow depths. FWIW other U explorers have been announcing "significant" drill results of shorter widths, lower grades and in deeper holes. This is an excellent start.

So it appears DEV have so far drilled ~1,500m for 10 holes... still 6,500m to go from the planned 8,000m campaign, although from what I read in todays announcement DEV have already decided to expand the program and undertake more in-fill drilling (see below). We will have plenty more drill results to come over the next ~3 months, it will be exciting to see the constant flow of news. Bear in mind there will be misses, not every hole will be a hit, as we have 4 holes so far that have been a NSI recorded (I also wouldn't rule a top-up CR given this campaign is to be expanded and SP is healthy).

The figure below is worth highlighting. Note the broad sections of infill drilling to complete ASAP, about 75m to test for further high-grade (hopefully) thicker intersects of massive uranium mineralisation. As DEV has indicated, majority of Nabarlek's historically produced 24Mlbs of U came from only two high-grade lenses that were between 30m and 75m in length. The deeper down-dip drilling will be worth watching to see if it does indeed intersect a folded, thicker section of mineralisation, such as what was encountered at ERA's Ranger mine. Just because it has pinched out in Hole 3 doesn't mean it couldn't be thicker again down-dip. IMO it would be reasonable to suggest there is a strong chance of further high grade lodes to be discovered along this fault line. We will find out in the next 3 months.



Personally, I am hanging out for DEV to drill the U40 to Zeus corridor (see below). That's a real sleeper, which although not covered in the mining lease has tremendous potential for U as well as Cu, Au.



I'm thinking the market will like the fact these initial high-grade hits are within the existing mining lease. An obviously easier and shorter path to potentially build out a JORC resource and then straight to mining. Plenty of other explorers out there with mineable discoveries but are finding it extremely difficult in this environment to gain approval... let alone the process could take years.

GLTA