Alligator Energy (ASX:AGE) has launched an inaugural stratigraphic drilling program at its Big Lake Uranium Project in South Australia.
The program is targeting the Namba formation with the aim of corroborating seismic and airborne electromagnetic interpretations of potential mineralisation-bearing channels, and testing the quality and variability of the potential host formation.
Alligator Energy, which has a market capitalisation of $228.26 million, has engaged drilling contractor Wallis Drilling to conduct up to 40 aircore holes at an average depth of 150m.
Assays and analysis of the results are expected between August and September 2024.
Those results will then inform a more targeted drilling program focused on the best opportunities to intersect uranium mineralisation within this portion of the Cooper Basin.
Alligator Energy says this is scheduled for either late in 2024 or early 2025.
CEO Greg Hall says there are signs that this has the potential to be a uranium-bearing basin following the Kazakhstan model.
“This drilling program is the start of our proof-of-concept work,” he says.
The Big Lake Project is targeting northern extensions of the same Namba, Eyre, and Winton sedimentary formations which host the Beverly, Four Mile, and Honeymoon in-situ recovery (ISR) uranium mining operations in South Australia.
The project shares many attributes with similar global hydrocarbon-related ISR uranium fields.
Alligator Energy is an Australian explorer focused on uranium and energy-related minerals, particularly cobalt and nickel.
Write to Aaliyah Rogan at Mining.com.au
Images: Alligator Energy
