Alligator Energy has confirmed chemical assays have supported a “significant new uranium discovery” at its Big Lake uranium project in South Australia.
In August, Alligator reported that its inaugural drilling program had intersected significant thicknesses of anomalous uranium mineralisation within interbedded palaeochannel sand units of the Namba Formation.
Since then, chemical assays have confirmed that significant uranium is present within the Lake Eyre basin sediments that lie above the hydrocarbon-rich Cooper Basin.
“The assay results validate our initial findings of the uranium discovery at our Big Lake Project and indeed, reflect some improvement on what we had observed in the field,” Alligator chief executive officer Greg Hall said.
“The consistency and thicknesses of the intersections highlight the significant potential for the project from what was an inaugural drilling program in a frontier and untested portion of the Lake Eyre/Cooper Basin system, northern South Australia.
“Having confirmed results, we are eager to move forward with the next drilling round scheduled for early next year.
“Planning for the drill campaigns is always done in consultation with the Traditional Owners, pastoralists and other stakeholders in the region, who have greatly assisted with our exploration endeavours to date.”
Alligator is currently in the process of finalising approvals for follow-up drilling scheduled for early next year, following a Native Title site heritage clearance anticipated before the end of 2024.
Additional drill lines are also planned to test other locations for fertile stratigraphy and interpreted paleochannels.