Alligator Energy’s inaugural drilling program at its South Australian Big Lake Uranium Project has uncovered a new greenfields uranium deposit.
The company’s drilling program has intersected significant thicknesses of anomalous uranium mineralisation within interbedded palaeochannel sand units in the Namba formation.
Alligator Energy said this discovery is the first proof of concept that significant uranium is present within the Lake Eyre basin sediments that lie above the hydrocarbon-rich Cooper Basin and within potentially in-situ recovery (ISR) amenable host and depths.
To date, four air-core drill holes have intersected palaeochannel sand units hosting anomalous uranium mineralisation located between 90m to 130m below surface.
Using a calibrated portable X-ray fluorescence analyser (pXRF) on drill samples, initial preliminary estimates of the tenor of uranium grades include indicative uranium grades found in these holes are approximately 10 to 50 times background levels. Additionally, the indicative grade-thickness of two intersections is at or near the economic cut off used at the Company’s Samphire ISR uranium project near Whyalla, South Australia.
Going forward, two further holes are currently being drilled within the limited heritage cleared area of discovery. At the end of the program, all samples will be transported to Adelaide for detailed laboratory assaying and analysis.
Following the full analysis of data, including refinement of the geological model, Alligator will commence approvals and initiate heritage clearances for follow-up drilling.
Alligator Energy’s CEO, Greg Hall, said this is the first significant greenfields discovery of uranium in South Australia since the Samphire Uranium Project in 2007.
“The thickness extent of mineralisation layers ranging up to 20m in these discovery holes is impressive for this style of mineralisation. While estimated grades are still on the lower side, to have grade-thickness intersections close to the cut-off used at our Samphire Project from the initial discovery area is very encouraging.
“The discovery appears to validate the uranium formation model developed by the previous Big Lake geologists from whom Alligator acquired the initial tenement, and we acknowledge their work.”
Mr Hall said the sediments above the Cooper Basin cover an extensive area.
“We hope this has the potential to develop into a new ISR amenable uranium field, similar to the Curnamona Province which hosts the Beverley, Four Mile and Honeymoon deposits.”
Mr Hall congratulated Alligator Energy’s exploration team for the planning, logistics and safe drilling operations carried out to date.
“We are also very appreciative to the Traditional Owners, pastoralists and other stakeholders in the region that have facilitated access for our work.”
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