• Uranium play DEV encounters a wide zone averaging 1.2% eU3O8 in early drilling at Nabarlek 
  • ENT soars some 40% on fresh lithium hits 
  • Tolga Kumova-backed RGL acquires second lithium project this year 

Here are the biggest small cap resources winners, Tuesday August 9.

*A previous version of this story was headlined “Another Creasy pick tops the charts”. Stockhead apologises for the error.*



Another day, another uranium play making some big moves and this morning all eyes are on DEV, a cashed-ed up explorer ready to ride the coming uranium boom.

The company is 18% owned by Tim Goyder – mining’s man of the moment who has made his fortune by backing and leading a portfolio of junior mining stocks such as Chalice Mining (ASX:CHN) and Liontown Resources (ASX:LTR).

Earlier this month Goyder won the coveted GJ Stokes Memorial Award at Diggers and Dealers, a lifetime contribution award for his service to the industry.

Shares in DEV are on the upward trajectory with news of high-grade uranium intersected at the Nabarlek Uranium Project within the Alligator Rivers Uranium Province in the Northern Territory – one of the world’s leading sources of high-grade uranium.

Highlight this include 10.7m at 1.2% eU308 from 123.4m, including 3.2m at 3.05% eU308 at Nabarlek South and 9.1m at 0.15% eU308 from 50.5m, including 0.4m at 0.80% eU308 at North Buffalo.

DEV managing director Brendan Bradley says drilling is off to a flying start, with the early success demonstrating the scale and quality of the opportunity in this highly endowed uranium field.

“We are very excited by these early results, which provide the basis for expanding the drill programme with a second rig arriving shortly,” he says.

DEV has a market cap of ~$125.6m and is up 66.67% for the year.

NOW READ: Barry FitzGerald: Two cashed up juniors ready to ride the uranium boom



This lithium focused explorer is known as a project generator, meaning it partners with other (usually more cashed up) companies to help pay for exploration across its portfolio of projects – spreading the risk, and the reward.

Here’s why project generators are favoured by famous investor Rick Rule.

This morning, the company says it has completed check assaying of 54 of the Stage 1 -80# orientation soil samples from the Bullfinch North Project in Western Australia where some 23 samples have reported +50ppm lithium.

Around 13 of these samples have recorded even higher results, +60ppm lithium.

“These anomalous lithium samples are predominantly clustered over and around two parallel pegmatite intrusives, which have been identified by mapping of outcrops and interpretation of soil and vegetation trends in detailed imagery,” ENT says.

A Stage 2 detailed grid soil sampling program on east-west lines 100m apart, with sample spacing along line of 25m, is planned to kick off mid-August.



Tolga Kumova burst to prominence as a mining investor shortly after his departure from graphite miner Syrah Resources (ASX:SYR) in 2016.

He quickly became a young rich lister whose positions in Syrah, New Century Resources (ASX:NCZ), European Cobalt and Bellevue Gold (ASX:BGL) propelled him into the consciousness of investment circles as a name to look out for.

Kumova currently holds 7.5% of ~$22.8m market cap company RGL which has just announced its second lithium acquisition in 2022, this time south of Southern Cross near Marvel Loch in Western Australia’s goldfields.

RGL has acquired eight tenements highly prospective for lithium, establishing the company as a serious player in the Australian lithium sector.

Managing director Julian Ford says the Southern Cross-Marvel Loch tenements (SX-MVL) were keenly sought after, given their strategic location in the Yilgarn Craton along the same geological trend as Covalent Lithium’s Mt Holland Lithium Project and its 189Mt at 1.5% lithium oxide (Li2O) resource.

Exploration efforts are set to kick off in the coming weeks.

NOW READ: Lessons from the Masters: Where is small cap whisperer Tolga Kumova invested on the ASX?



(Up on no news)

This Liontown Resources (ASX:LTR) spinoff, focused on the Moora Gold-Nickel-PGE Project near the Julimar mineral province, made an ‘outstanding’ new intersection of 13m at 3.3g/t gold at its Zest prospect back in July.

Although assays are pending for another 126 aircore holes across previously defined geochemical anomalies on the Moora and adjacent Koojan JV Project, MI6 says this hit continues the company’s success in identifying significant mineralised zones.

This massive hit is located only 55m down dip of a recent intersection recording 12m at 2g/t gold and 1.4% copper.



(Up on no news)

OZM completed a 10-hole RC program for 2,100m in early July which delivered results up to 57m at 1.05g/t gold from 199m, including 21m at 1.31g/t gold and 10m at 1.72g/t gold.

In addition, OzAurum received significant results for the second diamond hole, MNODH 003 recently completed at the new virgin gold discovery Demag Zone discovered at the Mulgabbie North Project.

Diamond drilling has continued at the Demag Zone with fourth diamond hole, MNODH 005, at a current depth of 74m and planned to be drilled to a depth of 600m.

Another nine-hole RC program for 1,900m kicked off on July 18 with the Mulgabbie North Relief Shear continuing to demonstrate its potential to host significant gold mineralisation directly adjacent to the Northern Star (ASX:NST) Carosue Dam mill.