Alligator Energy Ltd (ASX:AGE, OTC:ALGEF) has made some "substantial" uranium finds following resource extension drilling at the Samphire Uranium Project, near Whyalla in South Australia.
The program, which began in late January and continued through to mid-April, consisted of 49 drill holes for 4,089 metres.
Notable uranium intersections
This drilling targeted the Blackbush deposit's roll fronts, uncovering notable uranium intersections that align with the company's strategic exploration goals.
The use of ground gravity surveys has been pivotal in mapping the target palaeochannels, significantly aiding in the successful targeting of uranium deposits.
The 11 exploration target area locations within the Samphire Uranium Project.
Some of the best results include:
- 4.44 metres at 0.43% uranium (pU3O8) from 61.38 metres;
- 1.47 metres at 0.40% from 60.68 metres;
- 0.75 metres at 0.64% from 63.57 metres; and
- 1.17 metres at 0.30% from 64.24 metres.
The exploration has not only extended the known mineralisation within the Blackbush deposit but also indicated potential expansions into new target areas.
Drilling is set to resume in mid-May, following a break for the pastoral lambing season, and will focus on further exploration of Extension Area 2 and the Blackbush West mineralisation's expansion into the Blackbush North Target (NYSE:TGT) Area.
The company has also committed to sustained drilling operations throughout 2024, with plans to update its mineral resource estimate (MRE) by the fourth quarter.
Extended target areas
Alligator CEO Greg Hall said: “We are pleased to see Blackbush deposit mineralisation extending within the immediate target areas of the current resource to the west and east initially.
“The resource geology team is becoming adept at finding the redox boundary between oxidised and reduced sands, and hence quickly narrowing the search for the potentially economic roll front structures.
“In some instances, we are aided by the great exploration work done by the predecessor company historical gamma drilling intersections.”
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