Alligator Energy Limited (ASX: AGE) Reports Significant Uranium Discoveries
Uranium Mineralisation Extension
Alligator Energy Limited (ASX: AGE) announced significant uranium mineralisation intersections from its recent drilling program at the Samphire Uranium Project, near Whyalla, South Australia. The drilling extended uranium mineralisation by a cumulative 500 metres outside the known Blackbush West Mineral Resource envelope, indicating strong potential for resource expansion.
A total of 61 holes were drilled, amounting to 5,158 metres from mid-July to mid-November 2024. The results align with Alligator’s established exploration target, highlighting continued refinement in understanding the Blackbush West uranium roll fronts, which has led to additional targets outside the inferred mineral resource. Significant intersections include remarkable grades such as 1.3 metres at 1.94% pU3O8 from hole BBRM24-304, and additional significant results across multiple drill holes.
Future Drilling Plans
Alligator Energy plans to update its JORC Resource Estimate in Q1 2025, aiming to convert inferred resources to indicated resources while also focusing on resource expansion. The company is set to re-commence drilling in early Q1 2025, with a contractor engaged for sustained exploration efforts throughout the year.
Greg Hall, CEO and Managing Director of Alligator Energy, expressed enthusiasm about the drilling results: “We are excited to see Blackbush deposit mineralisation extending well outside the current mineral resource envelope.” He highlighted the geological team’s capabilities in identifying economic roll front structures, further encouraging ongoing exploration.
Drilling Program Highlights
The recent drilling program has primarily focused on expanding uranium mineralisation to the west and south of Blackbush West, providing essential insights into the geology of the area. Results from these drilling activities affirm the potential continuity of mineralisation and will influence the company’s strategic exploration plans moving forward.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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