Company
ASX:AGE
Alligator Energy is a uranium and energy metals project development and exploration group with clear pathways for approval and development through its multi-jurisdictional portfolio. This includes the Samphire Uranium Project, 20km south of Whyalla in South Australia, which has a 18.0 million pound uranium resources, a robust scoping study for production of 1.2 million pounds a year, and a pilot plant planned, subject to approvals.
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“This auger and RAB drilling will assist to identify the underlying geology and combined with geophysics will inform our targeting for diamond drilling during next year,” said CEO Greg Hall.
The primary objective of the EM program is to determine the presence of conductors proximal to historic mines and extensive known surface mineralisation occurrences in the Alpe Laghetto area.
“The commencement of this high-resolution gravity survey is the next step to target extensions to the resource at Blackbush, and ultimately to the broader Samphire channel system which extends around and to the south of Blackbush," CEO Greg
The updated combined inferred and indicated ISR mineral resource is 14.8 million pounds of uranium at a 250 parts per million (ppm) cut-off grade from 10 million tonnes at 666 ppm U3O8.
“The Alligator Rivers Uranium Province remains an important primary exploration area for Alligator Energy and is the region with the highest-grade uranium in Australia," CEO Greg Hall said.
The company’s regional exploration strategy is highlighting significant opportunities for extensions of the Samphire palaeochannel system, which hosts the Blackbush and Plumbush resources.
What the company now recognises is the importance of what the petroleum industry refers to as the 'granite wash play' and how it relates to uranium mineralisation.
The company believes that its ability to obtain 100% control of all Piedmont Project exploration licences will increase interest and dialogue with strategic investors.
“The correlation between Alligator’s new drilling results (both PFN and assay) and the historical drilling dataset is coming together very well, and is indicating excellent consistency and continuity of the mineralised zones,” says CEO.
Alligator’s in-country team took a field trip to the project to map and sample recently accessible lower altitude sites at the Isola prospect and undertake further reconnaissance for proposed geophysics, which is scheduled to start today.
The depth of these sands is consistently from 55 to 80 metres below surface, a very shallow depth for potential in-situ recovery (ISR) extraction, which AGE believes could result in relatively lower wellfield installation costs.
“As we receive additional assay data from the sonic drilling, along with this new downhole data, we will take the necessary steps to perform correlations and evaluations with historical information with the objective of increasing confidenc
The company hopes consolidating its interest in the Piedmont project will help progress discussions with strategic investors.
Alligator CEO Greg Hall says the inclusion to the SOLURANT Index brings a significant fund to the register.
“This places the company in an exceptionally strong position to progress our portfolio of projects and to take advantage of other market opportunities” - AGE CEO Greg Hall.
“The core has provided the first detailed geological information within the higher-grade portion of the deposit and confirms the opportunity to pursue this mineralisation for application to in-situ recovery uranium production," says CEO.
The company's sonic core drilling is nearing completion at Samphire, with assays anticipated in the next two weeks and a rotary drilling program targeted for late February 2022.
“This acquisition represents very good value for a prospective uranium exploration region, with known uranium presence, in light of recent uranium exploration project market valuations as indicated through recent IPOs,” said CEO Greg Hall.
“The drilling and core processing is being undertaken under established radiation safety and environmental management protocols,” says CEO.
The ASX-lister will drill up to 14 holes to extract sediment core from a uranium-bearing zone at the Blackbush deposit.
