Alligator Energy (ASX:AGE) has identified potential drill targets following a time domain ground electromagnetic (EM) survey at its Piedmont Nickel-Cobalt Project in Italy.
The company says results from the EM survey, which have been processed and interpreted with the assistance of consultant geophysicists, have uncovered a ‘large-scale’ conductive EM anomaly located east of the historic La Balma prospect.
Alligator Energy notes results also confirm the presence of a versatile time domain electromagnetic (VTEM) conductor identified in historical data, as well as an additional conductive EM anomaly coincident with observed mineralisation at the historic Alpe Laghetto mine.
Results also confirm the presence of anomalies within 4 out of 5 targeted EM survey grids.
The EM was designed to target areas immediately surrounding known historic workings and mapped mineralisation trends from previous Alligator field work and sampling.
Completion of the survey marks the conclusion of the phase two farm-in work program with Chris Reindler and Partners (CRP) and secures Alligator a registered interest of 51% in the underlying licences. The company will seek to establish a joint venture (JV) with CRP now that the survey has been completed.
Speaking on the discovery of potential targets, Alligator Energy Chief Executive Officer (CEO) Greg Hall says: “The ability and efficiency of the initial exploration team in combination with AGE’s in-country contracting personnel has delivered an exceptionally high-quality survey in challenging terrain and further enhanced the Piedmont project’s accessibility and potential to hold identifiable massive sulphide bodies.
“The ability and efficiency of the initial exploration team in combination with AGE’s in-country contracting personnel has delivered an exceptionally high-quality survey…”
The new anomaly at La Balma East is of similar amplitude to that observed over the historic Ni Co Alpe Laghetto mine which is directly associated with outcropping nickel sulphide mineralisation but to a much larger extent.
Planning has commenced for a northern summer program to investigate the La Balma anomaly in more detail whilst re-engaging potential strategic investors and considering the prospects of drilling in 2023 as we have approved drilling permits.”
The company also notes the Laghetto anomaly occurs directly coincident with historic workings and mapped extent of mineralisation at the prospect, believed to be associated with the observed sulphide body present there.
With the survey now complete, Alligator Energy announces rock chips collected around the time of the survey have been submitted for lab analysis, in conjunction with planning for a northern summer exploration campaign which includes a maiden drilling program and further engagement with strategic investors.
Alligator Energy is an ASX-listed exploration company focused on uranium and energy related minerals, particularly cobalt-nickel. The company’s Piedmont project is located in northern Italy and comprises 6 licences, with the company farming into 3 of these, focused on a 30km strike zone with multiple historic nickel-copper-cobalt mines.
Other assets included within the company’s exploration arsenal include the Samphire Uranium and Big Lake Uranium projects in South Australia, and the Alligator Rivers Uranium Province in the Northern Territory.
Images: Alligator Energy Ltd
