Alligator reinforcing Samphire Uranium economics

Alligator Energy (ASX:AGE) is working to upgrade the economics of its Samphire Uranium Project in South Australia.  

The $293.53 million market capitalisation company says drilling has been designed to extend the life-of-mine and areas outlined in Alligator’s recent exploration target range interpreted to be ‘highly prospective’ to host uranium. 

The target range identified only 10% of the prospective uranium system has been well explored with 32% party drill tested and 58% completely untested, indicating ‘significant’ potential for new discoveries in the project area. 

According to Alligator, the drilling contractor has been engaged and is on site to undertake the multi-year exploration program. 

Alligator Energy Managing Director and Chief Executive Officer (CEO) Greg Hall says Samphire is an ‘economically significant’ project in an improving uranium market. He says the next steps are to “enhance this project through adjacent and regional exploration”. 

“We are pleased to advise that, in line with our plans, drilling has recommenced at the Blackbush deposit to target enlarging and extending the overall total JORC Mineral Resource Estimate for the Samphire Project. 

This year-round drilling program, with the exception of planned breaks around the pastoralists lambing season in May, is an important and positive start to a busy 2024 for Alligator Energy.”

The exploration target range was the product of drilling programs undertaken by Alligator throughout 2021 to 2023 and an ‘extensive’ data review of over 1,000 historical drillholes. 

Alligator Energy is an explorer focused on uranium and energy related minerals, principally cobalt-nickel. 

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 30 December 2023, Alligator Energy had $36.514 million cash and cash equivalents at hand, according to its latest quarterly report.

Write to Adam Drought at Mining.com.au

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.