Alligator Energy (ASX: AGE) has intersected anomalous uranium and alteration of up to 10 metres at 672ppm U3O8 at its Tin Camp Creek Uranium Project in the Northern Territory.
The company had completed 5,584 metres and diamond and reverse circulation drilling this year, including 3,628 metres in Phase 2 drilling.
Phase 2 was focused primarily on the Caramal East area and the Orion North Prospect.
Drilling to date has indicated that the Caramal East area is structurally and geologically complex, and further drilling is required to fully determine the potential for significant high grade uranium mineralisation in this area.
Prioritisation of work at Caramal/Caramal East will be assessed after a more thorough review of 2013 drill results, including all structural and geochemical data.
It will be ranked against Alligator’s other high priority targets including Orion North, Orion East and Mintaka.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.