Alligator Energy Says Drilling at South Australia Uranium Project Confirms Further Mineralization; Shares Jump 7%

MT Newswires Live

3 hours ago

Alligator Energy (ASX:AGE) said initial drilling results at the Big Lake uranium project in South Australia confirmed further uranium mineralization at Site 10, according to a Monday Australian bourse filing.

The company said 33 air-core drill holes were completed for 4,112 meters, hitting intercepts of 1 meter at 80 parts per million (ppm) grade of triuranium octoxide-equivalent from 98.1 meters, 0.9 meters at 190 ppm grade of triuranium octoxide-equivalent from 100.4 meters, as well as 1.9 meters at 320 ppm grade of triuranium octoxide-equivalent from 100.9 meters.

The drilling identified a southeasterly trending redox front of significant scale within the sand horizon that hosts uranium mineralization from a previous drill hole, the company said.

Further drilling in the Site 10 area will compare previous assay results with downhole gamma logging results as well as better define the geometry, extent, and continuity of the interpreted redox front, per the filing.

Alligator Energy's shares jumped over 7% in recent trading on Monday.

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