Alligator Energy (ASX:AGE) has completed drilling at Tin Camp Creek in the Northern Territory, with a best intercept of 7 metres at 2886 parts per million uranium from 13 metres.
Notably, elevated gold, platinum and palladium values were also returned from multiple holes.
Platinum group anomalism is known to be associated with major Alligator Rivers uranium deposits, however this is the first instance of detection at Caramal.
Phase 2 drilling is now underway at the wider Caramal region to test extensions of host structures, and drilling has also commenced at the Orion North target, 7 kilometres north of Caramal.
Alligator is currently conducting a rights issue to raise up to $910,000, which closes on October 21.
In total, the company holds 1300 square kilometres of tenements in the high-grade Alligator River Uranium Province.
Highlighting the prospectivity of the province, historical discoveries include: Ranger No.1 and No.3 Orebodies – Production of 267Mlb at 0.3% U3O8; Nabarlek Production of 24Mlb U3O8 at 1.9% U3O8 (1980-1988); and Jabiluka – Resources of 350Mlb at 0.5% U3O8.
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