Alligator Energy Ltd (ASX:AGE, OTC:ALGEF) has made progress across its three key uranium projects in Australia, advancing lease applications, exploration drilling, magnetic and radiometric surveying and an inaugural drilling program at the Big Lake Uranium Project.
“The team at Alligator remains exceptionally busy on preparations ahead of the anticipated final approvals for the field recovery trial, our first foray into the Cooper Basin targeting the potential to be a new uranium-bearing basin at Big Lake and finalising plans for our 2024 drilling program at Nabarlek North,” Alligator Energy CEO Greg Hall said.
“This platform sets the company up for significant progress on all three core projects and hence the potential for solid news flow in the second half of the year.”
Samphire field recovery trial
AGE is working with the Department of Energy and Mining (DEM) in South Australia on an application for the Samphire Project’s Retention Lease and expects to lodge it later this week ahead of the Field Recovery Trial (FRT).
The FRT offers Alligator an opportunity to field test in-situ recovery (ISR) mining techniques for the Samphire deposit, the company’s chosen form of mineral extraction.
The company has issued an expression of interest for the on-site assembly of the FRT plant modules and associated infrastructure to seven short-listed local Whyalla contractors, five of which passed through to the next round of evaluation.
Construction work will begin once all approvals are in place – AGE is targeting the fourth quarter of this calendar year.
Apart from its efforts on the FRT, Alligator has also been drilling at the Blackbush deposit at Samphire, investigating historical intercepts.
The company identified prospective geological features pointing to uranium roll-front mineralisation at the Blackbush Northeast target, and medium to high-grade uranium mineralisation at the Blackbush Extension 2 target, including:
- 1.18 metres at 0.016% (1,682 parts per million or ppm) uranium from 54.04 metres and 0.87 metres at 0.14% (1,399 ppm) uranium from 60.35 metres;
- 0.57 metres at 0.13% (1,357 ppm) uranium from 54.76 metres; and
- 1.18 metres at 0.53% (5,332 ppm) uranium from 52.96 metres.
Drilling targeting the mineralisation at the Blackbush Extension 1 target has also borne fruit, with results suggesting mineralisation extends towards the north – the company is already investigating with a drill rig, based on results including:
- 0.53 metres at 0.019% (192ppm) uranium from 61.26 metres and 0.71 metres at 0.48% (4807ppm) uranium from 65.01 metres; and
- 0.51 metres at 0.06% (618ppm) uranium from 65.93 metres.
Alligator Rivers and Big Lake
At the Alligator Rivers Uranium Province in the Northern Territory, AGE recently flew a high-resolution airborne magnetic and radiometric survey over the Nabarlek North tenement package.
Preliminary results point to previously unknown structural trends and prospective geological domains, although the company has not yet received the final data from the contractor.
AGE will plan a drilling program for mid to late August based on the interpretations gleaned from the final data set.
At Big Lake Uranium Project in the Cooper Basin of Soputh Australia, the inaugural drilling program on tenement EL6367 is ongoing, with activities completed at all primary targets except location 2, which has been impacted by rain.
The company has suspended drilling for 2-3 weeks to allow for rain-affected areas to dry before drilling can resume.
AGE is particularly interested in investigating location 10 further once drilling resumes, as it shows evidence of potential paleochannel sands which may be prospective for uranium.
Alligator will present its full findings from the drilling campaign, including the potential for uranium roll-front systems in sections of the Cooper Basin, once data interpretation is complete.
Proposed (priority and secondary drill sites) on EL6367 for 2024. Priority based on logistical simplicity and testing a broad range of basin sections and interpretations.
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