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- Maiden inferred MRE of 12 Mlbs defined at Plumbush uranium deposit
- Combined Samphire project MRE increased by 67%
- Plumbush MRE provides support for 14 to 75 Mlbs exploration target
- Option secured over Mullaquana lease hosting Plumbush deposit
Alligator Energy (ASX:AGE) has made further major strides at the Plumbush deposit located within the Samphire uranium project in South Australia.
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The company has unveiled its maiden inferred mineral resource estimate (MRE) of 12 million pounds (Mlbs) of uranium at Plumbush, located within five km south of the Blackbush deposit within Samphire.
The addition of Plumbush to the Samphire project’s resource base has significantly enhanced the scale and potential continuity of the project, increasing the total MRE by 67% from 18 Mlbs to 30 Mlbs, all of which has been deemed amenable to in-situ recovery.
CEO and MD, Andrea Marsland-Smith, said the maiden MRE for Plumbush provides further validation of Alligator’s geological model and the expansion potential of the Samphire project, while delivering the initial resource component of the company’s exploration target range reported in 2023.
“Delivering a 12 Mlbs MRE located within five km from Blackbush materially enhances the scale of Samphire, with immediate drill ready targets now accessible following the finalisation of access arrangements with the landholder,” Ms Marsland-Smith said.
“Importantly, with an MRE of 30 Mlbs, it now provides the company with a stronger foundation, as we advance our BFS. We are well positioned to diligently deliver further MRE growth and conversion to Indicated and Measured categories, via our upcoming aggressive drilling campaign.
“We intend to deliver a further update to the MRE in early 2027, which will form the base to be incorporated into the BFS that is expected to be released in mid-2027.”
Ms Marsland-Smith said the Plumbush MRE highlights the prospectivity of the broader Samphire tenure and supports the potential development of multiple mineralised centres within the Samphire project.
“It also has the potential to contribute to future development planning and potentially increase the mining inventory beyond the scoping study and provide operational and infrastructure synergies which the company is assessing as part of a bankable feasibility study (BFS) currently underway and expected to be released in mid-2027.”
On the same day, Alligator revealed it executed a call option agreement to acquire the Mullaquana crown lease from Joyce Pastoral.
The lease hosts the Plumbush uranium deposit and covers the southern extension of the Blackbush uranium deposit within the Samphire project.
Importantly, the Mullaquana tenure provides Alligator with access to ground that has not been available due to access constraints, including the southern strike extension of the Blackbush mineralisation, where geological continuity is currently interpreted but has not been adequately tested through drilling.
The new access also opens the door to infill and extension drilling at the Plumbush deposit which has not been drilled in over 10 years, supporting opportunities to further refine and potentially expand the recently announced Plumbush MRE.
It also unlitesting the prospective corridor between the Blackbush and Plumbush deposits where there has been limited drilling, with the aim of improving the company’s understanding of mineralisation continuity across the broader Samphire project.
AGE is down 26.9% to 3.8¢. Mkt cap $230.7M.
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