Alligator Energy (ASX:AGE) has commenced a follow-up drill program at the Big Lake Uranium Project in the Lake Eyre Basin in South Australia following an extended rainy period.
The project comprises the northern extensions of the same uranium-bearing sediment system that hosts the Beverley, Four Mile, and Honeymoon in-situ recovery (ISR) uranium operations in South Australia.
Alligator notes that Big Lake’s characteristics are similar to those of other ‘world-class’ hydrocarbon ISR uranium districts.
The company conducted drilling at “Site 10” at the project in August 2024, intersecting ‘substantial’ thicknesses of anomalous uranium mineralisation within interbedded sand units of the Namba Formation.
Alligator Energy notes that the discovery provided the first “proof-of-concept” that there was significant uranium mineralisation within the basin’s sediments.
CEO and Managing Director Andrea Marsland-Smith says the company’s Big Lake project is “one of few greenfields uranium exploration opportunities that has emerged in Australia in the last decade”.
“Following the 2024 discovery, persistent wet weather conditions limited our ability to return to Site 10, making this upcoming program particularly exciting as we now have the opportunity to follow up the discovery and further assess its scale and potential,” Marsland-Smith says.
“We are entering a highly active phase of exploration, and this upcoming drilling program represents an important step in assessing the scale and continuity of the Site 10 discovery while simultaneously testing a pipeline of prospective targets across EL 6367.
“The success achieved by the team to date reinforces our view that Big Lake has the potential to become a strategically important uranium project within Alligator Energy’s growing portfolio of advanced uranium assets.”
Alligator Energy is an Australian exploration company focused on uranium and energy-related minerals.
Write to Amy Rotman at Mining.com.au
Images: Alligator Energy
