Alligator Energy stalks resource update at Samphire

Alligator Energy (ASX:AGE) is working towards an updated JORC resource estimate for its Samphire Uranium Project near Whyalla, South Australia, in the fourth quarter of 2024 through planned exploration programs.

The company says it will pursue the resource update following the return of uranium intersections encountered in resource extension drilling at the Blackbush deposit target area. 

The results, generated from 49 holes, support the exploration strategy outlined in Alligator’s exploration target range and demonstrate uranium grades up to 0.64%. 

Further, continued refinement in understanding uranium roll front morphology at Blackbush is providing Alligator with step out targets for the next round of drilling, which it hopes to begin in mid-May. 

On return to the field, the company plans to further investigate the Blackbush Extension Area 2 and assess the expansion potential of the Blackbush West mineralisation into the Blackbush North target area. 

A drilling contractor has been engaged for sustained operations at Samphire for the remainder of 2024.

Alligator CEO Greg Hall says the company’s resource geology team is continuing to narrow the search for potentially economic roll front structures. 

“We are pleased to see Blackbush deposit mineralisation extending within the immediate target areas of the current resource to the west and east initially,” Hall says. 

“In some instances, we are aided by the great exploration work done by the predecessor company’s historical gamma drilling intersections.” 

Exploration drilling restarted at Samphire in late January 2024 to investigate potential extensions to uranium mineralisation in the Kanaka Bed sands within the Samphire palaeochannel system surrounding the Blackbush deposit. 

The initial focus of exploration has been on the Blackbush Extensions 1 and 2 target areas. 

The company’s Samphire project sits about 20km south of the township of Whyalla in regional South Australia and was acquired by Alligator in 2020. 

As of 31 March 2024, Alligator Energy had almost $32.74 million in cash and cash equivalents, according to its latest quarterly report.

Alligator Energy will be one of the presenters at the upcoming RIU Sydney Resources Round-up is a media partner of this year’s conference, which is being held at Darling Harbour’s Hyatt Regency Hotel on 7-9 May 2024.

Last year’s RIU Sydney Resources Round-up attracted more than 1,500 delegates, making it the busiest since its inception in 2004. With over 800 of last year’s delegates coming from the investor or broker/fund categories, this conference offers investor engagement opportunities.

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Images: Alligator Energy
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.