Alligator Energy Ltd (ASX:AGE) has upgraded the uranium mineral resource estimate (MRE) for Blackbush deposit within the Samphire in-situ recovery (ISR) uranium project in South Australia, increasing the resource by 23%.
Blackbush now holds a resource of 18.1 million pounds of uranium from 11.4 million tonnes at 720 parts per million (ppm), representing an average 8% increase in grade from 666ppm.
Importantly, Alligator also upgraded the confidence of the resource with a 78% increase in the indicated category, which now accounts for 60% of the total MRE.
ISR-amenable mineralisation
“The increase in indicated category of our Blackbush deposit mineral resource estimate plus the total resource increase has provided a firm foundation for our initial project evaluation work being undertaken through a scoping study, due to be released this quarter,” Alligator Energy CEO Greg Hall said.
“Alligator has been targeting only the ISR amenable lithologies in its resource work, as we believe it is important to focus on a high-quality resource that we believe can be economically extracted.”
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Plan view showing the changes in area of the indicated mineral resource (September 2022 vs March 2023) for Blackbush
Drilling resumes
“We are positioning ourselves as a uranium developer with projects that compare favourably on technical characteristics and through our scoping study we will also be indicating initial project economic characteristics,” Hall continued.
“As recently announced, we have recommenced drilling at the Blackbush deposit this year with initial focus on water monitoring bores for our planned Field Recovery Trial and then onto rotary mud drilling for further resource infill and extensional work.
Read: Alligator Energy resumes drilling at Samphire Uranium Project's Blackbush deposit
“We have secured drilling contractors and personnel for a consistent program this year.”