DevEx consolidates uranium footprint
ASX-listed explorer DevEx Resources has struck a binding agreement to acquire Alligator Energy’s full uranium exploration tenure in the Alligator Rivers Uranium Province (ARUP), securing a 9 200 km2 land position around the historic Nabarlek uranium mine in the Northern Territory.
The ARUP, located on the north-western margin of the McArthur basin, is one of Australia’s premier uranium regions with more than 700-million pounds of uranium endowment. The district hosts some of the country’s best-known unconformity-style deposits, including Nabarlek, Ranger and Jabiluka.
The acquisition brings together multiple high-priority uranium corridors, including more than 50 km of underexplored faults at Nabarlek North, covering the U40 and Angularli fault zones. It also links tenure across Tin Camp Creek, connecting the Nabarlek and Orion fault corridors and incorporating historical prospects such as Caramal, where Alligator Energy previously defined a historical inferred mineral resource of 6.5-million pounds at 0.31% uranium oxide.
DevEx said the package provides substantial opportunity to revisit numerous untested or lightly followed-up historical intercepts, with much of the district having seen limited exploration in more than a decade.
The acquisition also complements DevEx’s recent purchase of adjacent tenements from Rio Tinto Exploration, strengthening its district-scale strategy in a geological setting analogous to Canada’s Athabasca basin.
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