Quarterly Activities Report - March 2019
Brisbane, April 30, 2019 AEST (ABN Newswire) - Alligator Energy Limited (
ASX:AGE) (Alligator, AGE or the Company) is pleased to release the 31 March 2019 Quarterly Report.
Highlights
Uranium
- New Structural and Regional geological interpretations generated in conjunction with a leading ARUP and global uranium exploration geologist, and an experienced ARUP structural expert.
- Input from the expert review assists AGE to broaden its understanding of the regional geological setting, in particular identifying as a critical control the older 'structural settings' which are evident in the major uranium deposits of Ranger, Ranger 3 Deeps and Jabiluka.
- Advanced geophysical data re-processing is being trialled to 3D model the underlying structural and lithological settings.
- AGE's TCC and Beatrice projects, along with the Narbarlek North application area, were reaffirmed as being of significant interest as targets. Nabarlek North in particular is adjacent one of the highest grade intersections drilled in the region.
- A one and three year exploration and drilling plan has been formulated to allow systematic considered exploration.
- New application EL32075 (16.26 Km2) confirmed adjacent to existing Narbarlek North applications further improves AGE's ARUP holdings.
- Meetings now underway with potential strategic partners to discuss partnering in this sustained longer term approach.
Energy Minerals
- Alligator has now received a full Piedmont project review from a global Nickel expert showing similarities to other known significant Ni bearing regions including:
o Unusually high number of Ni-Cu-Co sulphide occurrences directly related to intrusions over a large area.
o Very good nickel tenor within sulphides, with pentlandite the main Ni bearing mineral, combined with low concentrations of Ni in pyrrhotite indicate amenability to cost effective mineral processing with low Ni losses.
o The relationship of geophysical response (magnetics and VTEM) to geology and mineral occurrences indicates that mineralisation should respond to further modern geophysics.
- Proposed next steps to include shallow drilling of potential continuation of known massive sulphide outcrops and ground based EM to refine deeper drilling locations.
- Drill permit applications progressing with final granting anticipated around mid-year.
- Technical documentation is being prepared, and discussions with potential strategic partners and investors will commence shortly.
Corporate
- Greg Hall, CEO and Executive Director, agreed to extend his employment arrangement with the Company for a further 12 month period.
- Employee and contractor performance for the 2018 field season completed and 3,884,659 fully paid ordinary shares issued on vesting of the zero strike priced options.
Plans for the forthcoming quarter
- Finalise discussions and proposed terms with a preferred strategic partner for the ARUP projects.
- Complete advanced geophysical data re-processing trial to 3D model the underlying structural and lithological settings on the ARUP tenements.
- Advance the Narbarlek North application process and develop initial exploration plans on the assumption that grant occurs in Q3.
- Finalise drilling permits for Piedmont and develop work program which considers input from the Nickel expert review.
- Commence Piedmont Project discussions with potential strategic partners and investors to enable execution of the agreed work program in the second half of this year.
- Continue to investigate other strategic opportunities.
To view the full report, please visit:
http://abnnewswire.net/lnk/6WCKL682
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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