- Alligator Energy (AGE) announces assay results from the first sonic drill hole in the Blackbush deposit, part of its Samphire Uranium project in South Australia
- The company says the best intersections include 9.5 metres at 2353 parts per million, equating to 0.24 per cent uranium oxide above a cut-off of 250 parts per million
- A further five sonic core holes have been sampled and are progressing through laboratory analysis as accumulation of representative samples of mineralised core continues
- The company also says logging and sampling of remaining sonic core continues, and planning for a rotary mud drilling program with downhole logging is underway
- Shares were trading at 5.7 cents at close of session, January 28
Alligator Energy (AGE) has announced assay results from the first sonic drill hole in the Blackbush deposit, part of its Samphire Uranium project in South Australia.
The company said the best intersections include 9.5 metres at 2353 parts per million, equating to 0.24 per cent uranium oxide above a cut-off of 250 parts per million.
This includes an interval of 2 metres at 6839 parts per million, equalling 0.68 per cent uranium oxide.
According to Alligator Energy the best intersections are hosted in sequences of coarse to fine-grained sands, with minor clay zones directly overlying the granite basement.
Additionally, core logging and supporting multi-element analysis, including carbon analysis, show minimal organic derived material in sand hosted mineralised intersection.
A further five sonic core holes have been sampled and are progressing through laboratory analysis as the accumulation of representative samples of mineralised core continues.
The company also said logging and sampling of remaining sonic core continues, and planning for a rotary mud drilling program with downhole logging is underway.
Alligator CEO Greg Hall said the company will use the discovery to advance towards uranium production.
“The core has provided the first detailed geological information within the higher grade portion of the deposit and confirms the opportunity to pursue this mineralisation for application to ISR uranium production,” he said.
Shares were trading at 5.7 cents at previous close on January 28.