Alligator Energy Ltd (ASX:AGE, OTC:ALGEF) has received encouraging outcomes from its initial reverse circulation (RC) drilling program at the wholly-owned Nabarlek North Project in the Alligator Rivers Uranium Province (ARUP) of the Northern Territory in Australia.
The maiden program consisted of 1,398 metres of reverse circulation drilling with particularly promising uranium results in the vicinity of the high-grade U40 prospect.
Key highlights
Nine holes were drilled over three lines, with each hole sampled and assayed at 10-metre intervals.
Drill hole NNRC23-008 uncovered a particularly strong uranium intersection.
Some 200 metres along strike to the north of the U40 Prospect, the hole intersected 3 metres at an average grade of 0.12% U3O8 or 1,211parts per million (ppm), with a peak interval of 1-metre at 0.23% U3O8 (2,263 ppm).
The results strongly suggest the extension of the U40 Prospect uranium mineralising system into the company's Nabarlek North Project, opening avenues for future exploration and development.
During the 2023 ARUP field season, there were also extensive field exploration activities, including geophysics, aircore drilling and field mapping, which moved the project forward considerably.
"Solid momentum"
Alligator CEO Greg Hall said: “It is pleasing to see the solid momentum and tangible outcomes as we begin to analyse the results of our first full year in the field at Nabarlek North.
“Along with the first significant intercept in our project area, the 2022-2023 field programs are confirming the proof-of-concept mineralisation model developed by Alligator.
“This includes confirming rock types that we can confidently assign to the Cahill Formation, the most uranium-fertile formation present in the ARUP, and first-hand knowledge of the controls and alteration signature required for mineralisation.
“It all lends credence to our exploration strategy and highlights the potential for more exciting results going into 2024.”
Alligator Energy has engaged with Traditional Owners, securing early approvals for anticipated exploration activities in 2024.
The 2024 field season at Nabarlek North promises an integrated exploration approach. Alligator will pursue a multi-technique exploration strategy including comprehensive RC drilling, targeting narrow structurally controlled mineralisation.
The company expects to receive all remaining assays and data by January 2024, aiding in the finalisation of exploration strategies for the following year.
About the project
The Nabarlek North Project, situated within the ARUP, has been historically under-explored.
Despite initial uncertainties regarding the presence of fertile geological formations, Alligator Energy's explorations have debunked past interpretations, revealing the likely widespread presence of the fertile Cahill Formation.
This formation is key to the region's uranium mineralisation potential, as evidenced by the proximity to the historic Nabarlek uranium mine and the high-grade U40 Prospect.
Alligator Energy's exploratory efforts, combining cost-effective techniques and comprehensive geological modelling, aim to unlock the potential of this region, exploring both extensions of the U40 Prospect and new uranium systems in areas with unexplored cover.
Read more on Proactive Investors AU
