Hi all,DEV have just posted the video of the recent RRS IR preso...

Hi all,

DEV have just posted the video of the recent RRS IR preso from last week, see link attached above.

It's a 40min preso, nearly half of it is Brendan answering some good questions, probably some of these qn's came from you guys on HC.

I thought I would take the liberty of adding my notes and thoughts (thanks to @kyngdominion for your input last week)... to save you all watching it... but if you have time I do highly recommend.

BB reiterated how exceptionally high grade the DEV U tenements are, mined 24m lbs of U at avg 1.84% grade. In terms of ppm... 1% grade is 10,000ppm grade. Nabarlek had intercepts of 19m @ 13% U... which is 130,000ppm. Ridiculously high grades. But not just U, the nearby Ranger, Jabiluka and Coronation Hill mines all had high grade and high volume copper & gold mineralisation. Re: Coronation Hill, initially started as a copper mine, then they found U, then a significant gold deposit under the U in open pit mining. Then Coronation Hill was banned for mining under the Kakadu NP re-zoning.

BB said Nabarlek & U40 has similar geological DNA to Coronation Hill. Strong potential for Cu, Au, U and even PGE. They have just finished reviewing 50yrs of exploration data, some of it was hard copy paper... all collated and input into a model which is what they have presented, mapping out the structures, corridors, fault related mineralisation and feeder conduits.

Prospects are as follows:

• Nabarlek: high grade U was found at surface and the pod was mined back in the 70s/80s. Radiometric survey data has shown the U mineralisation is controlled by the north fault structure, DEV suspect further high grade pods to be found along this fault leading to the NE, evidenced by gradiometric survey data - drilling to test this theory.
• Nabarlek South: data sets showing a 50m wide target of past high grade drill intercepts, vectoring into what could be another high grade pod, again plunging to the NE - drilling to test.
• Nabarlek East: this prospect is based on the 25,000 Radon teck samples from late 80s. An enormous data set (would cost millions $ to do this today). Theory is as U decays it seeps up from the ground and can be picked up by sampling. U40 was discovered by drilling under high radon samples. Best intercept of 6m @ 7% U... also logged Cu, Au and PGE. The "KP prospect" is to be tested by drilling under the cap rock. Also a number of prospects to be drilled along the "Zeus to U40" corridor. All based on extensive radon sampling.

So next exploration starts now... ongoing for the next 12 months in the NT. Advantages DEV has are:

• All weather bitumen airstrip (no other explorer has this)
• All season camp enabling DEV to explore through-out wet season (no other explorer has this)
• Granted tenure over 4,500 sq km on land which is outside the Kakadu NP
• Land access agreements in place with landowners and all activities strongly supported by the traditional landowners (have been past employees of Nabarlek mining so keen to get the $$ in)
• IF a discovery is made, commercial agreements are already in place for mining / offtakes etc.
• Existing mining lease in place until 2032, which can be extended.
• Environmental Impact Statement already in place
• Strong support from the NT govt and regulatory bodies.
• Drill rigs to be secured once permits approved and ready to hit ground in April 2022 (end of wet season)

Responses to some great questions:

• $16m in the bank to drill and explore across 3 significant projects. $1.5m budgeted for the NT U campaign. Planning to drill all NT prospects back to back, smash it out of the park (my words). Also there may be additional drill prospects added from the NT ground work they will do over the wet season (such as at Blackrim and Overload).
• BB referred about DEV U asset value... specifically mentioned neighbours VMY & AGE... all $200m+ MC... he said DEV's U assets to stay inside DEV for time being but TG & BB always thinking about how the SP would "properly" reflect the value of Nabarlek & U40.
• Upcoming drilling will certainly be assaying for Cu, Au and PGEs. Referenced U40 which has past assays for over 1gt Pd & 1gt Pt. They know it is there.

BB then briefly mentioned WA & NSW. They will be drilling at both projects this month (October):

• Sovereign: DD rig coming in soon, start drilling to map the deeper geology, particularly targeting the base of the mafic-ultramafic rocks (where sulphides are modelled to be). Also ground EM to start over the whole 12km intrusion, will take months to complete this surveying. If they identify strong EM conductors they will grab the DD rig and drill it. Very methodical process.
• Junee / Nangas Rd: BB words... "really likes it"... that's means a lot from a 25+ yr geologist. RC and DD rigs to get going over the 2km+ anomaly. IP has been completed, now it is time to test underneath where shallow AC drilling has found 3.5gt Au/Cu. Also will have a RAB rig in for some tighter space interval drilling to help vector the deeper drill rigs.
• They have 7 geologists on the ground across NT, WA & NSW.

So that's it, sorry about the long post, but I hope this has provided some excellent info and analysis for you all.

My 2 cents: I'm super positive after watching this preso. BB is smiling and upbeat, exudes quiet confidence, is very focused, just a no BS kinda guy. He is here to build significant shareholder wealth. There is great momentum to be enjoyed and plenty of news flow to come.

GLTA