Tim Goyder-chaired DevEx Resources is gearing up for a busy 2022 with exploration efforts underway or planned across three projects across three separate Australian jurisdictions.
"Our main business focus is to bring forward exploration discovery. We're in the business of delivering discovery drill holes for our shareholders - that's the first step we want to move towards," DevEx managing director Brendan Bradley said.
"To achieve this, it's about bringing together a portfolio of high-quality exploration projects with a fresh exploration approach"
The company holds the Sovereign nickel-copper-platinum group element project in Western Australia, the Junee copper-gold project in New South Wales and the Narbarlek uranium project in the Northern Territory.
"They've all got their own unique merits and they're located in very well sought-after exploration jurisdictions," Bradley said.
Sovereign sits within WA's Julimar Province, between Chalice Mining's world-class Julimar discovery and Caspin Mining's prospective Yarawindah Brook project.
"We're are just getting started out there," Bradley said.
"We've got the right rocks and nobody has been here before us."
DevEx had a big win at Sovereign just before Christmas, with initial stratigraphic diamond drilling confirming the thick and prospective intrusive sequence.
The second hole intersected broad intervals of low-grade disseminated nickel-copper sulphide mineralisation, including several 5-10cm bands of matrix textured iron-nickel-copper sulphides.
A similar narrow zone of disseminated nickel-copper sulphide mineralisation was observed in hole three, 3.5km to the north.
A ground electromagnetic survey is underway and is expected to take several months.
At Junee, DevEx's neighbours include Newmont Corporation, and Sandfire Resources to the north.
The project sits in the same belt hosting major deposits such as Cadia-Ridgeway, Northparkes, Cowal and McPhillamys.
Diamond drilling is underway, with reverse circulation and aircore drills to join the effort.
It comes after 2021 drilling upgraded the potential of the Nangus Road prospect, which features a large porphyry copper-gold target.
Gold grades of up to 3.5 grams per tonne were hit.
The company's latest programs will test a large, 2km-long copper-gold bedrock anomaly featuring gold grades of up to 3.5 grams per tonne and copper grades up to 1410 parts per million.
Multiple induced polarisation anomalies have been identified beneath the bedrock anomaly.
Bradley described the potential as "pretty damn compelling".
In early February, the company reported broad alteration zones in the first diamond hole at Junee.
Ahead of the return of assay results, Bradley described the result as encouraging and exciting.
In the NT, preparations are underway for drilling at Nabarlek in the dry season.
The project includes the historical Narbarlek mine, which produced 24 million pounds at high grades of 1.84% uranium oxide.
"We're waiting for that uranium price to really kick off - it's looking good," Bradley said.
The company remains well-funded with $12.87 million cash in the bank as of the start of January.
