Commences Drilling of TCC4 Uranium Prospect
Commences Drilling of TCC4 Uranium Prospect
Brisbane, Sep 4, 2018 AEST (ABN Newswire) - Alligator Energy Limited (ASX:AGE) (Alligator or the Company) is pleased to advise that its exploration team and drilling contractor (DDH1) have commenced exploration drilling operations at its TCC4 uranium prospect in the Alligator Rivers Uranium Province (ARUP) in Arnhem Land, Northern Territory.

Highlights

- The TCC4 prospect represents Alligators most advanced untested undercover uranium target with a large strongly coherent geochemical pathfinder anomaly, significant SAM geophysical anomaly indicative of alteration, and favourable stratigraphy of the Cahill Formation unconformably concealed by sandstone;

- Drilling operations commenced on Monday 3rd September on the first line of four planned lines to be tested;

- The planned drill program consists of up to 3,000 metres or up to 10 holes, varying from 250 to 400 metres deep;

- Drilling will be a combination of RC pre-collars through the main part of the sandstone cover, with diamond cored tails through the target horizons;

- The exploration team will undertake rapid and ongoing evaluation of geology, lithology, alteration and any mineralisation encountered during drilling to enable real-time modification of the program based on results;

- Samples will be sent away for assay once a reasonable quantity of core has been obtained

The TCC4 prospect represents the most advanced undercover uranium potential in AGE's tenements, with identification of underlying Cahill Formation geology (hosts both the Ranger and Jabiluka deposits), along with overlapping SAM geophysics and geochemical sampling indicators.

Alligator's Acting CEO Greg Hall commented; "Our exploration team has done an excellent job in preparing access, setting up support systems and readying sites for drilling in rapid time. All procedures, safety and environment protocols have been followed and are in place for drilling."

The Company will be sending samples away for assay during drilling operations and will report results once assays have been completed. Any important findings during drilling may be reported if considered of significance under ASX rules."

Drilling plan for TCC4 Prospect

Alligator Energy has the second largest exploration tenement holding in the uranium prospective ARUP region in Arnhem Land. After several years of work, the TCC4 prospect (refer location Figure 1 in link below) contains the most advanced quality uranium target outlined by the Company's proprietary pathfinder and modified SAM undercover exploration techniques (together our R&D exploration IP). The location is adjacent to other uranium occurrences drilled by Alligator and others in previous exploration campaigns.

AGE believes the TCC4 prospect represents the best complete undercover target with close similarities to the major uranium deposits of the Alligator Rivers Uranium Province. While uranium prospects occurring at surface may have been eroded over time, those which may exist under the sandstone cover have the best chance of being complete and of economic size.

A significant drilling program is required to test the concept, and a drilling program of up to 3,000 metres drilling is now underway.

At a recent exploration planning workshop, Alligator's geologists, consultants and exploration experienced Board members reviewed the full status of work compiled on TCC4 to date and the recommended drilling locations. In particular, Alligator recently completed an up to date reprocessing of the original raw SAM data using the latest data processing techniques. This has re-affirmed the SAM targeting, and clearly showed the less resistive zones indicative of alteration patterns seen from major uranium deposits in the area. The data was reviewed along with the existing geochemical pathfinder results to aid in finalising drill targeting.

The TCC4 prospect is located adjacent to two historical and previously drilled (by AGE and others) uranium prospects - South Horn and Mintaka. Both of these prospects are exposed within the valley structure to the south and east of TCC4 and contain intersections of uranium mineralisation associated with the dolerite present in that area (refer Figure 2 in link below).

In 2017, during compilation of the latest geochemical pathfinder isotope results, it was found that this area was coincident with an area of low resistivity which underlies the sandstone at TCC4 as determined by the SAM geophysics. Along with this a nearby historical drill hole indicates that the Cahill Formation is also coincident with the low resistivity geophysical anomaly. (refer Figure 3 in link below).

Figure 4 in link below shows the updated highlighted SAM conductor geophysics in the TCC4 area, along with isotope anomaly envelope and the four preferred drill lines designed to test Alligators R&D exploration IP targets.

To view figures, please visit:
http://abnnewswire.net/lnk/I4292C5R


About Alligator Energy Ltd

Alligator Energy Ltd (ASX:AGE) is an Australian, ASX-listed, exploration company focused on uranium and energy related minerals, principally cobalt-nickel.

Alligator's Directors have significant experience in the exploration, development and operations of both uranium and nickel projects (both laterites and sulphides).

 


Contact

Mr Greg Hall
Executive Director and CEO
Alligator Energy Ltd
Email: gh@alligatorenergy.com.au

Mr Mike Meintjes
Company Secretary
Alligator Energy Ltd
Email: mm@alligatorenergy.com.au



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