Quarterly Activities Report - December 2018
Brisbane, Jan 31, 2019 AEST (ABN Newswire) - Alligator Energy Limited (
ASX:AGE) (Alligator, AGE or the Company) is pleased to release the 31 December 2018 Quarterly Report.
Highlights
Uranium
- AGE geologists and consultants have continued collating data from the 2,138 m TCC4 drilling program carried out in Sept / Oct 2018 (see Figure 2 in link below);
- A review, interpretation and recommendation of next steps for TCC4 specifically and Alligator Rivers Uranium Province (ARUP) exploration by a global and NT experienced uranium geologist has been delayed and will now commence in early February;
- AGE remains focused on our search for large (100 Mlbs) high grade uranium deposits in the ARUP;
- Discussions are recommencing with the Northern Land Council (NLC) regarding the ARUP Nabarlek North application area, which is adjacent to the high grade U40 uranium prospect;
- AGE completed demobilisation and rehabilitation of the TCC4 drilling area, and an NT Govt operational and environment audit was satisfactorily concluded;
Energy Minerals
- AGE completed "First Pass" Phase 1 work program as part of the Piedmont Project (Ni Co Cu) earn-in and have committed to Phase 2. This Project covers a large mafic/ultramafic layered complex approximately 30kms long by 2.5kms wide which contains known massive sulphide mineralisation, historical mine workings, and significant potential for further discoveries;
- AGE has signed a confidentiality agreement allowing a globally recognised expert in this form of nickel mineralisation to undertake an initial regional data review, which is now underway;
- Permitting for planned future drilling is underway, with an environmental screening study completed, an initial meeting held with the Piedmont Regional mining authority, and communications with the Environment Ministry;
- Along with two new tenement applications lodged during 2018, Alligator continues to use its knowledge to evaluate additional ground of interest in the region.
Corporate
- AGE is continuing to evaluate other project opportunities within Australia and overseas, related to our expanded exploration strategy of Uranium and Energy Minerals;
- Mr John Main advised his intention to retire from the AGE Board and stepped down as Chairman at the end of the AGM on 27th November 2018. During his time with AGE, John has provided exceptional leadership for the Board and the Company in all its plans and programs. The Board and staff of AGE thank John and wish him all the best for the future.
- Paul Dickson, who has been Acting Chairman for AGE, has been elected as Chairman. The Board welcomes Paul to the new role and thanks him for stepping in as Acting Chair.
- AGE staff and consultants were on extended leave during the December / January period, assisting to conserve the cash position of the Company ready for the active periods in the coming year.
- The uranium spot price reached $US29 per lb during the quarter, having increased from US$21 per lb in April 2018. The long-term price firmed slightly to US$32 per lb.
Plans for the forthcoming quarter
- Undertake TCC4 and regional data review and interpretation workshop, assisted by a highly experienced uranium geological consultant, with the aim to determine and prioritise the next steps at AGE's extensive ARUP uranium projects and applications;
- Work with the NLC and Traditional Owners (TO's) to progress the ARUP Narbarlek North Project application, potentially opening up a second area within the ARUP to AGE;
- Develop initial plans for the 2019 field season work at the Company's ARUP tenements;
- Complete Ni Co Cu regional data review of the Piedmont Project and develop detailed drill targeting;
- Progress drilling permits for future drill program at Piedmont, and commence more detailed drill planning;
- Continue to develop discussions with potential strategic partners who have long term interest in the Company's projects.
To view the full report, please visit:
http://abnnewswire.net/lnk/STK1IU6D
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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