We are pleased to advise that chemical assay results from our inaugural drilling program at the Big Lake Uranium Project, South Australia confirm preliminary findings of a significant new uranium discovery.
Highlights
🔶In August 2024, Alligator reported that its inaugural drilling program had intersected significant thicknesses of anomalous uranium mineralisation within interbedded palaeochannel sand units of the Namba Formation.
🔶The discovery is the first proof of concept that significant uranium is present within the Lake Eyre basin sediments that lie above the hydrocarbon-rich Cooper Basin and within potentially In-Situ Recovery (ISR) amenable host and depths.
🔶Laboratory chemical assay results validate the in-field XRF measurements for contained uranium. These include:
🔸AC24-021 20m @ 110 ppm U from 106 m
🔸AC24-022 35 m @ 117 ppm U from 93 m
🔸AC24-023 5 m @ 47 ppm U from 104 m
🔸AC24-025 10 m @ 138 ppm U from 108 m
🔶An improved result was noted in drillhole AC24-022 where in-field XRF detected 5m @ 130ppm U whereas lab assay shows a significant grade thickness of 35m @ 117ppm U.
🔶Alligator is currently in the process of finalising approvals for follow-up drilling in the area for Q1 2025, following a Native Title site heritage clearance scheduled for Q4 2024. Additional drill lines are also planned to test other locations for fertile stratigraphy and interpretated paleochannels.
Alligator’s CEO Greg Hall stated:
“The assay results validate our initial findings of the uranium discovery at our Big Lake Project and indeed, reflect some improvement on what we had observed in the field. The consistency and thicknesses of the intersections highlight the significant potential for the Project from what was an inaugural drilling program in a frontier and untested portion of the Lake Eyre/Cooper Basin system, northern South Australia.
Having confirmed results, we are eager to move forward with the next drilling round scheduled for early next year. Planning for the drill campaigns is always done in consultation with the Traditional Owners, pastoralists and other stakeholders in the region, who have greatly assisted with our exploration endeavours to date."
🗞️Read the full ASX announcement here: https://lnkd.in/gTwUjKSJ
#AGE #AlligatorEnergy #uranium #ASXnews
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