- Alligator Energy (AGE) confirms more high-grade uranium at the Blackbush Deposit in the Samphire uranium project, near Whyalla in South Australia
- The company has received assay results from a further four holes from a phase-one sonic core drilling program
- The best grade thickness (GT) result was 5.1 metres at 0.208 per cent uranium oxide for a GT of 10,608
- Alligator plans to begin follow-up rotary mud drilling in the fourth quarter of 2022 to target multiple open positions of high-grade zones not properly tested by recent drilling programs
- Shares in Alligator are down 4.17 per cent and trading at 6.9 cents per share at midday AEST
Alligator Energy (AGE) has confirmed more high-grade uranium at the Blackbush Deposit in the Samphire uranium project, near Whyalla in South Australia.
The company has received assay results from a further four holes from a phase-one sonic core drilling program in the area. So far, assays for nine out of 14 core holes have been received.
Alligator said the best grade thickness (GT) result was 5.1 metres at 0.208 per cent uranium oxide for a GT of 10,608 in sonic hole 014. The company added that most assay intersections continue to be above its initial estimated GT cut-off of 2000.
Alligator said these assay results continued to confirm the robustness of uranium grades obtained in the recent sonic and rotary mud drilling campaigns.
The company now plans to take on follow-up rotary mud drilling in the fourth quarter of 2022 to target multiple open positions of high-grade zones not properly tested by recent drilling programs. This planned drilling work is subject to a cultural heritage survey.
“The correlation between Alligator’s new drilling results (both Prompt Fission Neutron and assay) and the historical drilling dataset is coming together very well and is indicating excellent consistency and continuity of the mineralised zones,” CEO Greg Hall said.
“Work on developing a regional exploration strategy is highlighting significant opportunities for extension of the Blackbush resource and within AGE’s wider tenement holding.”
The company has commenced the framing of a regional exploration strategy to target resource extension. This will include selecting and planning relevant geophysics in line with consultation with pastoralists.
Alligator shares weredown 4.17 per cent and trading at 6.9 cents per share at midday AEST.