Devex Resources (ASX:DEV) announced financial results for the quarter ended 30 September 2022.
Two drill rigs currently testing priority uranium targets surrounding the historical Nabarlek Uranium Mine (previous production: 24Mlbs U3O8 at 1.84% U3O8).
Multiple broad down-hole intervals of fracture-hosted uranium mineralisation intersected within a dolerite at Nabarlek South.
Significant uranium intersected in basement rocks in broad-spaced reconnaissance Reverse Circulation (RC) drilling at the U42 prospect.
Drilling continues to test priority targets including the recently defined, large-scale Overload Prospect.
Assay results from drilling are pending.
Final assay results received from drilling at the Nangus Road Prospect.
Shallow gold intercepts define a coherent open-ended north-south trend >1km long, within an anomalous bedrock copper halo broadening to the south.
The results further enhance the potential for a porphyry copper-gold deposit at Nangus Road.
Further drilling is planned for the current quarter.
$15 million raised at $0.34 per share with a further $2.2 million to be raised subject to shareholder approval at the Company?s AGM.
The Company is well-funded for its drill programme at Nabarlek, and for ongoing exploration and drilling activities at the Junee and Sovereign Projects, with $19.1M in cash at quarter-end.
Following the announcement the company?s share price fell 5.172%.