Uranium exploration company Alligator Energy (ASX:AGE) is moving forward with development and exploration activities on multiple fronts across its portfolio of projects located across Australia and Italy.
The $172 million market capitalisation company says at its Samphire Project in South Australia, a retention lease (RL) application, which was applied for during February this year, is well-progressed for the undertaking of a field recovery trial in early 2024.
Resource drilling is currently underway at the Blackbush deposit in hopes of increasing the confidence of the Mineral Resource Estimate (MRE) through conversion of the inferred category to indicated statues.
Work has also begun on defining an initial exploration target range for the broader project area and is expected to be completed in November this year.
Adelaide-based Wallbridge Gilbert Aztec consultants have been engaged to update the Samphire Scoping Study in parallel with the MRE update work.
All of this work is expected to be funded from $25.5 million it snapped up from sophisticated and institutional investors, as reported on 20 September 2023.
Meanwhile, at the company’s other asset in South Australia, Big Lake, advice on the timing of a full heritage clearance for drilling by the Yandruwandha Yawarrawarrka Traditional Land Owners Aboriginal Corporation (YYTLOAC) is expected to occur in the last quarter of 2023.
Therefore, an inaugural drill program is now likely to be deferred to February/March 2024.
At the company’s Piedmont Project in Italy, Alligator is seeking to finalise with Regione Piedmonte retention of the Alpe Laghetto licence going into 2024, as well as develop a systematic project-wide exploration program covering a 2-year timeframe and a minimum resource target threshold.
This work is being undertaken following a field mapping program in May of this year across both the Alpe Laghetto and La Balma mineral occurrences.
It is Alligator’s belief this district still holds considerable untested potential for nickel-cobalt-copper mineralisation on the doorstep of Western Europe.
At Alligator’s project in the Northern Territory, the Alligator Rivers Uranium Province (ARUP), a ‘significant’ induced polarisation (IP) survey has been completed over a portion of the Nabarlek North tenements.
This survey was completed in conjunction with ongoing sampling of aircore (AC) holes, as well as geological mapping and soil and stream sediment sampling.
However, the company notes a small reverse circulation (RC) drill program is being considered before the end of the 2023 field season to test a number of geochemical, geophysical, and/or structural features identified at depth.
Alligator Energy is an ASX-listed explorer focused on uranium and energy related minerals, principally cobalt-nickel.
The company’s projects are located across South Australia and the Northern Territory, as well as within Italy and are considered prospective for nickel, cobalt, copper, gold, platinum group elements, and ‘high-grade uranium mineralisation respectively.
Alligator Energy had $18.5 million cash at hand as of 30 June 2023.
Write to Adam Drought at Mining.com.au
Images: Alligator Energy
