West Arnhem Project EL 10176, EL 23700 and EL 24371 GR062 Annual Technical Report for the period 2 September 2018 to 1 September 2019

Abstract

The West Arnhem Project is located in the western portion of the Arnhem Land Aboriginal Reserve, 28 km east of the Gunbalanya (Oenpelli) Aboriginal Community and approximately 300 km east of Darwin. The West Arnhem Project consists of three exploration licences, EL 10176 and EL 24371, and EL 23700 with a total area of 447.67 km2. Initially granted to Cameco Australia Pty Ltd (Cameco), the project is currently operated by DevEx Resources Limited (DEV) who has earnt a 100% interest in the tenements. Exploration activities carried out during the 2018-2019 reporting period comprised: RC (176m) and Diamond (894.5m) drilling of IP target at depth and interpreted potential extension of previously identified mineralisation at U40 prospect; RC (302m) drilling of IP target at U40 South prospect; A desktop study of the GC11 prospect followed by a single RC drill hole at the prospect to test a target generated by spectral analysis work; A desktop study of the Black Bream prospect where historic drilling intercepted up to 0.16m at 2.2% U3O8.