DEV 4.76% 30.0¢ devex resources limited

Yep, TG's stable of companies have delivered substantial...

  1. 260 Posts.
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    Yep, TG's stable of companies have delivered substantial shareholder wealth. He has this skill of attracting and retaining some very loyal shareholders as well as very loyal and highly competent management teams. Rightly deserved IMO.

    To your post, I would just add that DEV has the potential to be much more than just uranium with their Nabarlek assets. There is a history of these AGUP deposits also containing significant grades and tonnages of copper, gold, platinum & palladium (PGEs) in addition to the uranium. Wouldn't that be something to discover such a multi-mineral & metal deposit in the current environment of global electrification and accelerating decarbonisation.

    It has been well flagged that Nabarlek & U40 has many similarities to the prolific Coronation Hill deposit. Of interest I found that the 1991 ban on mining at Coronation Hill (as a result of the Kakadu NP being formed) locked away 1.4 million oz of gold, 300,000 oz of PGEs and some 340,000 tonnes of uranium. And that's only what was defined at that point in time... imagine how much that would be worth in today's money.

    And while we wait for the drill results announcement... I thought some may find these points of interest:
    • DEV has said that a technical review of historical drill intercepts at U40 had shown them to be of similar mineralisation age, alteration, metal content and fault control geometry as that at Coronation Hill.
    • DEV interprets that the isolated pod of high-grade mineralisation at the U40 prospect to also be part of a similar fault-controlled mineralising event of the same age as that at Coronation Hill.
    • DEV believes there is excellent potential to locate additional mineralisation at depth (i.e. 500m-1,000m)
    • Age dating of the uranium mineralisation at Coronation Hill is consistent with ages recorded for uranium mineralisation at both Nabarlek and Jabiluka.
    • Importantly, the fault-hosted Coronation Hill deposit had significant vertical depth extent, with multiple stacked high-grade mineralisation lodes extending to depths of more than 470m below surface.
    • Drilling for precious metals at Coronation Hill in the 1980's, also identified a high grade uranium-gold deposit 120 metres below the old pit. It is found in complex folding and within brecciated chloritic tuffaceous siltstone, carbonaceous siltstone, and brecciated quartz-feldspar porphyry. You can see from DEVs exploration guidance that they are also of the opinion for similar multiple-stacked high-grade mineralisation lodes at Nabarlek / U40. The DD rigs will test this theory in this campaign.
    • The last round of "serious" drilling within the Nabarlek leases was in 2010 with the assay results recording significant high-grade copper, gold and uranium intercepts at the U40 prospect, including:
    • 12.3m at 2.03% Cu, 1.77g/t Au and 0.73% U3O8 from 78.9m, including 2.6m at 8.13g/t Au from 82.6m (NAD7493)
    • 6.3m at 1.9% Cu, 0.66g/t Au and 7.23% U3O8 from 75.5m

    Since then, not much incentive to explore when U price was below $20 lb.

    I'm intrigued to see what grades and intercepts DEV have (hopefully) discovered.

    ps - does anyone remember DEV used to be called Uranium Equities? Wouldn't it be ironic if their discovery hole ends up being from their U assets... come full circle.

    Cheers
 
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