Alligator Energy (ASX: AGE) has discovered surface mineralisation of up to 21,000 ppm uranium (2.1% uranium) at the company's Tin Camp Creek Project in the Northern Territory, with the sample just 3 kilometres from the Caramal prospect.
The samples have come from the Orion East target area, with the uranium mineralisation confirmed by these assays associated with a recently identified north trending structural zone.
Highlighting the prospectivity of the area, eight samples of the 72 samples returned greater than 1% (10,000ppm) uranium.
Alligator has also received the remaining assay results received from reconnaissance drilling, which included wide spaced drilling targeting regional targets along the Orion Belt.
Highlights from Mintaka included; 6 metres at 663 ppm uranium from 65 metres; and 15 metres at 512 ppm uranium from 78 metres, including 5 metres at 1292 ppm uranium.
At South Horn, the extension of the known mineralisation included; 32 metres at 678 ppm uranium from 20 metres (8 metres at 1050 ppm uranium from 20 metres).
Alligator has now identified a separate but parallel area of strong alteration, fracturing and thick sequence of prospective lower Cahill Formation identified to the northeast of Caramal.
The drilling however has identified the presence of a significant ENE trending fault which is the company said could be a possible focus of uranium mineralising fluids and will be a target for future drilling.
Caramal drilling ongoing
Drilling of structural targets in the Caramal area is continuing, where Alligator considers that there is potential to discover offset extensions to mineralisation and structurally controlled high grade zones (>1% 10,000 ppm) adjacent to the existing resource.
The resource is currently 6.5Mlb at 0.31% uranium.
First Caramal drill results are expected in November.
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