DevEx Resources : Quarterly Activities and Cashflow Report - June 2022

DevEx Resources : Quarterly Activities and Cashflow Report – June 2022

For personal use only

Activities Report for the Quarter Ended 30 June 2022

HIGHLIGHTS

Nabarlek Uranium Project, NT (100%) A diamond drilling (DD) programme commenced at Nabarlek subsequent to quarter end. A strong resurgence in the uranium spot price, with recent prices reaching 10-year highs (above US$50/lb U3O8), is providing strong justification for this rigorous campaign to test numerous high-quality targets at Australia’s highest-grade uranium province. The programme is designed to test priority targets surrounding the historical Nabarlek Uranium Mine (previous production of 24 Mlbs @ 1.84% U3O8). A second reverse circulation (RC) drill rig is expected to commence in August. Junee Copper-Gold Project, NSW (100%) Drilling at the Nangus Road Prospect was completed during the quarter. Assays from air-core (AC) and DD continue to identify significant near-surface gold mineralisation, with shallow intercepts including: o 4m @ 2.5g/t Au from 28m (AC) incl 1m @ 6.3g/t Au at […]

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