Alligator Energy Ltd (ASX:AGE, OTC:ALGEF) has commenced its inaugural stratigraphic drill program for the Big Lake Uranium Project in the Cooper Basin of South Australia, where it has a significant exploration holding across six tenements.
Alligator notes that the project has many attributes of similar global hydrocarbon-related ISR uranium fields. A historical drilling program in the region by a previous company around 16 years ago indicated the presence of uranium in thin bands.
The drilling program
The program at Big Lake is targeting northern extensions of the same Namba, Eyre and Winton sedimentary formations that host the Beverley, Four Mile and Honeymoon in-situ recovery (ISR) uranium mining operations in South Australia.
The objective of this initial drilling program in targeting the Namba formation is to corroborate seismic/AEM interpretations of potential mineralisation bearing channels; and test the quality and variability of the potential host formation.
The drill program is focused on EL6367, at the core of the project:
Alligator’s significant tenement holding over the southern Cooper Basin which comprise the Big Lake Project.
A drilling contractor, Wallis Drilling, has been engaged to conduct up to 40 aircore holes on 3-to-4 hole fences (cross-sectional lines of drillholes placed 50-200 metres apart), with an average depth of 150 metres.
Proposed drill sites on EL6367 for 2024.
Exploration continues
Alligator CEO Greg Hall stated: “We are very pleased to begin this long-awaited program and are fully appreciative to the Traditional Owners and other stakeholders that have facilitated access.
“While at a very early green-field stage of the exploration/resource pipeline, all the signs are there that this has the potential to be a uranium-bearing basin following the Kazakhstan model. This drilling program is the start of our proof-of-concept work”.
Drill assays and the analysis of results are expected in August or September, subject to final drilling metres.
The results will inform a more targeted drilling program focused on the best opportunities to intersect uranium mineralisation within this portion of the Cooper Basin. Alligator anticipates follow up drilling later in 2024 or early in 2025.
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