Devex Resources (ASX:DEV) announces quarterly results

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%.