Rock chip samples up to 2.42% Ni and 0.19% Co confirmed
Expands Piedmont Project with New Licence Applications
Brisbane, Aug 23, 2018 AEST (ABN Newswire) - Alligator Energy Limited (
ASX:AGE) (Alligator or the Company) has extended its northern Italian Piedmont Ni Co project opportunity with two further tenement applications. These applications are situated over geological continuations of the stratigraphy within licences currently operated by Alligator under a farm-in agreement. The applications contain known historic workings or mineral occurrences.
Highlights
Key points of interest include:
- Initial reconnaissance has confirmed presence of massive sulphides;
- Application confirmation stage allows basic on-ground investigations;
- Rock chip samples with significant metal grades of 0.17 to 2.48% Ni, 0.02 to 0.19% Co and 0.05 to 0.37% Cu;
- Continuation of the geological setting which hosts the Alpe Laghetto, Alpe Cevia and La Balma prospects;
- These applications approximately double Alligator's land holding exposure in an exciting historic Ni Co mining province;
- Virtually no-modern exploration has been conducted on these application areas; and
- Confirmation of prospectivity by Alligator's Ni Co competent person following a recent field visit.
Significant geochemical rock chip sample assays include:
Sella Bassa: Sample P18-S033 - 2.42% Ni, 0.19% Co, 0.10% Cu
Sample P18-S034 - 2.28% Ni, 0.17% Co, 0.25% Cu
Sample P18-S032 - 0.95% Ni, 0.08% Co, 0.37% Cu
Isola: Sample P18-S048 - 0.41% Ni, 0.05% Co, 0.05% Cu
Sample P18-S050 - 0.17% Ni, 0.02% Co, 0.25% Cu
Since commencing exploration on 11th May, AGE has continued to assess the mineral potential of the greater Piedmont area. As a result of improved technical and geological understanding, the Company has lodged two new licence applications to expand the Piedmont Ni-Co project and continues to assess new ground for potential. Initial reconnaissance of the licences has been conducted with 10 grab samples taken on the Sella Bassa application, for which results have been received confirming the presence of historically indicated Ni-Co.
AGE's CEO Greg Hall commented today: "Sample results from the vicinity of the historic Sella Bassa mine continue to demonstrate the exceptional broad mineral systems and potential of the Piedmont Ni-Co project. With these new applications, Alligator has now secured some of the most prospective ground across the district."
The expanded Piedmont Project area continues to be an important future value addition to the Company's assets while we gear up for our upcoming Arnhem Land uranium drilling program at our TCC4 prospect."
Location:
Two new applications have been lodged by the Company across the Piedmont mineral district. These applications are the Sella Bassa and Monte Ventolaro applications shown below in Figure 1 (see link below). The Galerno application shown on Figure 1 (see link below) is under the Company's existing farm-in agreement with Chris Reindler Partners (CRP), as are the granted tenements.
Geological Setting and Exploration progress
A review of historical results and technical papers, combined with on-ground observation, indicate the region is a major gabbroic mafic complex, with sub-volcanic layered intrusive structures leading down to depth. The region of interest appears to extend some 30kms in length, by 2 to 3kms wide. From previous work, the dominant sulphide mineral is pyrrhotite, with minor amounts of pentlandite and chalcopyrite.
The new applications were determined and located based on a series of criteria outlined below. From these criteria two additional applications have been lodged and confirmed based primarily on geological setting, historic exploration and workings with the potential to identify new deposits with modern exploration techniques.
Application Criteria:
- Correct geological setting along Gabbro/Peridotite contacts and Kinzingite lenses;
- Lower gabbroic sequence;
- Comparable structural settings to current farm-in licences;
- Known mineralisation and mineral occurrences;
- Only minor overlap within national parks and conservation areas, however this does not restrict exploration; and
- Concurrent with existing farm-in/joint venture interests.
Across these new applications at least 4 historic workings and mineral prospects are referenced in academic and mining documents with on-ground reconnaissance confirming the existence of two of these to date. The two main historic mines are Sella Bassa and Isola located on the "Sella Bassa" licence. The "Monte Ventolaro" application shown below in Figure 2 (see link below) has two unconfirmed mineral prospects and has had no reconnaissance work conducted since confirmation of application.
From initial inspection of historic workings on the Sella Bassa application, 10 samples have been collected to date. Of these samples, 3 are located at the Sella Bassa prospect itself and 7 at Isola. Figure 3 in link below shows the distribution of these samples and assays plotted by Ni %. Two of the three samples collected at Sella Bassa exceed 2% Ni and 0.17% Co and match well with historically reported grades. Assay results from Isola returned maximum values of 0.41% Ni and 0.05% Co confirming significant sulphide mineralisation.
Significant assay results from samples collected within the new Sella Bassa application can be seen below in Table 1 (see link below).
Samples were selected on a geological basis and collected as grab samples in a non-systematic nature as part of a reconnaissance mapping program around historic nickel prospects and mines within AGE application tenure. Sampling was completed using a geopick, with locations recorded utilising a hand held GPS. The program was designed to be representative of the variety of rock types and sulphide levels observed in the project area. Results are comparable to the previously unverified historic mining grades of the district and provide encouragement that, along with identification of lateral and depth continuation, potential exists for economic discoveries to be made within the district.
As part of the application process, the local mining office will likely request an environmental study commensurate with the low impact nature of planned exploration. Alligator is currently determining these requirements.
Project Background
The Piedmont Project area is located within an historic mining district with cobalt, nickel and copper mining taking place from the late 1800's to the end of WWII. Cobalt production grades of over 0.2% and nickel grades of over 2% were recorded as historic mine grade estimates within the Project area.
Alligator considers the Piedmont Project area prospective for Fe-Ni-Cu-Co massive sulphide deposits in gabbroic and mafic rocks. Previous work on the metallogenesis of the Hercynian orogeny of the Alps completed by Omenetto and Brigo in 1974 drew strong similarities with Sudbury type ores regarding the sulphide assemblages. Bigioggero et al. 1979 made a division of the deposits within the project area based on the metal association and geological settings, these categories were:
1) Mineralisation in layers of the cyclic units, proximal to metasediments
2) Mineralisation in layers of the main gabbro
3) Mineralisation in pipes
Alligator are exploring for all 3 mineralisation types. Virtually no modern exploration has been completed within the district, until a recent EM survey highlighted targets proximal to historic workings.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/YK5M4V37
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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