Alligator Energy Ltd (ASX:AGE) has identified four target anomalies at the Piedmont Nickel-Cobalt Project in Northern Italy with a ground-based electromagnetic (EM) survey, subsequently completing phase two of its farm-in agreement with Chris Reindler and Partners (CRP) and securing a 51% interest in the project licences.
From here AGE will move to establish a joint venture (JV) committee with CRP and begin planning a northern summer exploration program, which may include a maiden drilling program.
“The ability and efficiency of the initial exploration team in combination with AGE’s in-country contracting personnel has delivered an exceptionally high-quality survey in challenging terrain and further enhanced the Piedmont project’s accessibility and potential to hold identifiable massive sulphide bodies,” Alligator Energy CEO Greg Hall said.
EM survey results
AGE’s survey was designed to target areas immediately surrounding known historical workings and mineralised trends mapped in previous fieldwork and sampling by the company.
EM survey location on Piedmont Nickel-Cobalt Project licences.
Alligator’s modelling of the survey data identified conductive anomalies in four of the five surveyed grids, at La Balma, Laghetto, Laghetto South and EM1.
Completed EM survey grids showing Channel 25 conductivity plots and historical nickel-cobalt working locations.
Alligator has also submitted relevant rock chip samples from Piedmont for petrophysical analysis, the results of which will aid in drill targeting and planning.
“The new anomaly at La Balma East is of similar amplitude to that observed over the historical nickel-cobalt Alpe Laghetto mine which is directly associated with outcropping nickel sulphide mineralisation but to a much larger extent,” Hall continued.
“Planning has commenced for a northern summer program to investigate the La Balma anomaly in more detail while re-engaging potential strategic investors and considering the prospects of drilling in 2023 as we have approved drilling permits.”
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