Alligator Energy Ltd (ASX:AGE, OTC:ALGEF) has recommenced resource extension and broader exploration drilling at the Samphire Uranium Project south of Whyalla, South Australia.
The company’s 2021-2023 drill programs at the Blackbush Deposit and extensive data review of over 1,000 historical drillholes has identified several target areas that remain open and untested.
Drilling is now underway to explore several of these target areas which comprise part of a multi-year exploration program outlined in Alligator’s recently announced exploration target range.
The multi-year exploration program at the project will concentrate on targets outlined in the company’s recently announced exploration target range, including:
- drill testing areas adjacent to the limits of the existing Blackbush resource envelope to further upgrade the Samphire Project economics through extending the life of mine as outlined in the scoping study; and
- drill testing areas interpreted to be highly prospective to host uranium mineralisation, based on the presence of underlying uranium source rocks, overlying or adjacent palaeochannel sediments like those encountered at Blackbush and historical drillholes that have intersected mineralisation.
In deriving the exploration target, Alligator observed that with 64 kilometres of interpreted palaeochannel strike length, only 10% of the prospective uranium system — the Blackbush deposit and portion of the Plumbush prospect — has been well explored, with a further 32% only partly drill tested.
That leaves over 58%, or more than 37 kilometres, of strike completely untested and points to significant potential for new discoveries in the project area.
“An economically significant project in an improving uranium market”
Alligator managing director and CEO Greg Hall said: “The Samphire Uranium Project has been shown through our recent scoping study to represent an economically significant project in the current and improving uranium market.
“This study was however limited to a targeted production profile from the declared Blackbush JORC compliant resource.
“As announced previously, the next steps are to enhance this project through adjacent and regional exploration. We are pleased to advise that, in line with our plans, drilling has recommenced at the Blackbush deposit to target enlarging and extending the overall total JORC mineral resource estimate for the Samphire Project.
“This year-round drilling program, with the exception of planned breaks around the pastoralists lambing season in May, is an important and positive start to a busy 2024 for Alligator Energy.”
The drilling contractor has been engaged and is on-site for sustained operations at Samphire throughout the 2024 calendar year, with all land access and approvals in place to execute the 2024 program.
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