Alligator Energy Provides Key Updates on Uranium Exploration Projects
AGE (AGE) Share Update July 2024 Wednesday 17th
Alligator Energy Reports Significant Progress on Uranium Projects
Alligator Energy (ASX: AGE) has provided an important update on its ongoing uranium exploration and development projects, highlighting significant progress and future plans.
Instant Summary:
- Samphire Project: Progress on Retention Lease application and drilling results.
- Field Recovery Trial (FRT) plant construction set to begin in Q4 2024.
- Encouraging uranium grades found in Blackbush Extension 2 and Northeast areas.
- High-resolution surveys completed at Alligator Rivers Uranium Province.
- Big Lake Uranium Project drill program underway with promising initial results.
Samphire Project
The Samphire Project continues to advance, with the Retention Lease application progressing smoothly. All necessary information requested by the Department of Energy and Mining (DEM) for the Field Recovery Trial (FRT) is expected to be submitted later this week.
An Expression of Interest for the on-site assembly of the FRT plant modules has been issued to seven local Whyalla contractors, with five advancing to the next evaluation stage. Construction work is set to begin in Q4 2024, pending all necessary approvals.
Recent drilling has focused on areas near the Blackbush mineralization, with promising results. Notable intercepts include:
- BBRM24-255: 1.18m @ 0.016% (1,682ppm) pU3O8 from 54.04m and 0.87m @ 0.14% (1,399ppm) pU3O8 from 60.35m.
- BBRM24-258: 0.57m @ 0.13% (1,357ppm) pU3O8 from 54.76m.
- BBRM24-267: 1.18m @ 0.53% (5,332ppm) pU3O8 from 52.96m.
Alligator Rivers Uranium Province
A high-resolution airborne magnetic and radiometric survey has been completed over the entire Nabarlek North tenement package. The survey aimed to improve data resolution and consistency for drill targeting.
Preliminary results show significant improvements in data resolution, highlighting previously unknown structural trends and geological domains. Final data and interpretations are expected soon, with drilling planned to commence in mid-late August 2024.
Big Lake Uranium Project
The inaugural drill program at Big Lake is ongoing, with activities at all primary drill targets completed except for one location currently impacted by rain. Drilling has shown evidence of potential paleochannel sands, which will be further tested.
Drilling has been temporarily suspended due to rain, with resumption expected in early-mid August. The objective is to calibrate seismic/AEM interpretations of the Cooper basin for the potential existence of uranium roll-front systems.
Results from this program will be presented in a forthcoming release once drilling and interpretation are completed.
The progress on Alligator Energy's projects is a positive indicator for the company's future. The successful completion of the FRT and promising drilling results could significantly boost the company's stock. The high-resolution survey data from Alligator Rivers Uranium Province also adds value, providing better targeting for future drilling.
Investor Reaction:
Investors and analysts have shown optimism regarding the latest updates. The advancements in the Samphire Project and the high-resolution survey results are seen as strong positives for Alligator Energy's future prospects.
Conclusion:
Alligator Energy's recent progress in its uranium projects is promising. Investors should keep an eye on further developments and the final data release. The company's strategic advancements could lead to substantial gains in the near future.