Alligator Energy (ASX: AGE) has discovered some high grade U308 at the company's Caramal prospect from a historical drill program, located in the Alligator Rivers Uranium Province.
Alligator re-assayed a selected core from the 1971 drill program with a representative sample reporting; 10 metres at 8317 parts per million U3O8 with associated 0.5 grams per tonne gold from 26 metres.
Also building anticipation for the company, is compilation of the 1980’s exploration assay data identifies alteration zones with strongly anomalous rare earth elements in rock chip samples, reaching a peak of 3.2% rare earth elements, located east of the Two Rocks prospect.
Alligator is a newbie to the ASX, only being admitted last month after a successful IPO offering 75 million shares at $0.20 to raise up to $15 million.