Projects and Market Update - 6 April 2021
Brisbane, April 6, 2021 AEST (ABN Newswire) - Alligator Energy (
ASX:AGE) provides the following projects and market update:
Samphire Project:
- High-resolution ground magnetics trial over part of the Blackbush resource was successfully completed early February 2021;
- Improved geophysical detail is providing insight into basement features and structural controls of the Blackbush resource and will assist with targeting of further high-grade mineralisation;
- Considering this positive outcome, planning to expand the magnetic and passive seismic surveys is underway;
- Results of additional surveys will help inform the drilling program scheduled to start in July 2021, primarily focusing on resource upgrade;
- Drilling will also obtain fresh core samples for updated uranium extraction tests with ANSTO scheduled for August / September this year.
Alligator Rivers Project:
- The Northern Territory Government issued a notice to grant the Nabarlek North licences, consolidating Alligator's significant footprint in the world class Alligator Rivers Uranium Province (ARUP);
- Exploration agreements are in place with Traditional Owners, as facilitated through the Northern Land Council;
- Initial assessment of the highly underexplored package demonstrates favourable geological and structural settings for world class uranium mineralisation within a known fertile environment;
- The Project is adjacent to the previously identified U40 prospect - previous intersection of 6.8m @ 6.71% U3O8 (DevEx Resources: refer ASX.DEV release dated 10 Sept 2019);
- An initial work program has been planned, and program meetings with
Traditional Owners tentatively scheduled for early August.
Piedmont and Big Lake Uranium Projects:
- Piedmont - Engagement continues with two counterparties who are evaluating an investment and exploration opportunity into the Piedmont Ni Co Cu project.
- Big Lake Uranium - Contractors have now been identified to conduct the proposed Electro Magnetic survey which is co-funded by the South Australian Accelerated Discovery Initiative.
Corporate:
- The Board is pleased to announce an extension of the employment contract for Greg Hall, CEO and Managing Director for a further term on substantially the same terms as those currently in place.
Greg Hall, Alligator CEO said "Planning for the upcoming Samphire drilling program is well underway, and we are very pleased with the geophysics results that will support the targeting for this. ANSTO are keen to assist with our updated metallurgical testing which will provide latest results for the next stage in our study and design work. Later in the year we plan to initiate our first work on the Nabarlek North project, identifying key targets for future exploration and drilling.
Along with this substantial work on our exciting projects, the positive market support for uranium reinforces our continued evaluation of further external uranium resource opportunities."
Paul Dickson, Alligator Chairman, said "The Board would like to thank Greg for his drive and determination during the past twelve months which has resulted in the Company securing a JORC compliant uranium resource at the Samphire Project at a time of renewed interest in the sector. We are very pleased to secure his ongoing role as CEO."
To view the full update, please visit:
https://abnnewswire.net/lnk/3M5429H5
About Alligator Energy Ltd
Alligator Energy Ltd (ASX:AGE) is an Australian, ASX-listed, exploration company focused on uranium and energy related minerals, principally cobalt-nickel.
Alligator's Directors have significant experience in the exploration, development and operations of both uranium and nickel projects (both laterites and sulphides).
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