DevEx seeks to raise project development funds

Exploration firm DevEx Resources on Monday announced a one-for-two non-renounceable rights issue to raise up to $2.84-million for its lithium and copper/gold projects. The company said it planned to fast track drilling at its projects, including the recently identified lithium anomaly at the Dundas project in Western Australia and high-priority copper/gold/uranium targets at West Arnhem in the Northern Territory. In October, DevEx said it would review recently released auger sampling which had identified a stand out 2 km-long coincident lithium and beryllium anomaly. Following grant of the tenement application and heritage clearances, the company is planning angled reverse circulation drilling of the anomaly early this year.