en.Wedoany.com Reported - Alligator Energy has launched a new round of drilling at the Big Lake uranium discovery in the Cooper Basin, South Australia, aimed at assessing the scale and continuity of the system.
The company's initial drilling program, completed in 2024, encountered widespread anomalous uranium mineralization signals in the paleochannel sands of the Namba Formation. These indications confirm the mineralization potential of the Lake Eyre Basin sediments, validate Alligator Energy's (ASX:AGE) exploration model, and suggest the basin has the potential to become a new sedimentary uranium district.
The Big Lake project is located in the northern extension of a uranium-bearing sedimentary system. This system includes the Honeymoon ISR mine operated by Boss Energy (ASX:BOE), as well as the Beverley and Four Mile operations held by private entities. The project is also considered to share similarities with global-scale hydrocarbon-related ISR uranium districts.
Alligator Energy CEO and Managing Director Dr. Andrea Marsland-Smith stated that Big Lake represents one of the few greenfield uranium exploration opportunities to emerge in Australia over the past decade. The 2024 discovery at Site 10 provided the first actual data confirming that Lake Eyre Basin sediments can host uranium mineralization, thereby validating a geological model that could unlock a new uranium district.
The 2024 drilling encountered significant thicknesses of anomalous uranium mineralization in multiple holes at Site 10. Specific results include: 20 meters at 110 ppm U3O8 from 106 meters depth; 35 meters at 117 ppm U3O8 from 93 meters depth; and 10 meters at 138 ppm U3O8 from 108 meters depth. Subsequently, sustained rainfall restricted access to the discovery area within Exploration License EL 6367. The new program will return to Site 10, utilizing AC drilling to expand the current mineralization footprint and assess the scale and extent of the system.
Dr. Marsland-Smith noted that the team is entering a highly active exploration phase. The upcoming drilling program is a critical step in evaluating the scale and continuity of Site 10, while also testing other potential targets within EL 6367. The team's existing results further reinforce the company's assessment that Big Lake has the potential to become a strategically valuable project within Alligator Energy's growing portfolio of advanced uranium assets.
Exploration at Big Lake builds on ongoing work at the company's flagship project—the Samphire uranium project in South Australia. Alligator is conducting field uranium recovery trials at Samphire, aimed at providing data to support a feasibility study, facilitate mining lease approval, and guide subsequent development decisions. The company recently completed its first wellfield trial, achieving a 70% uranium recovery rate after 70% pore volume displacement. The average uranium grade in solution was 115 ppm, exceeding assumptions in Alligator's previous scoping study. Pump test results showed flow rates exceeding 5 liters per second, outperforming typical global ISR well flow rates. To further enhance process efficiency, the company continues to optimize reagent consumption. These trial data will serve as key inputs for the ongoing bankable feasibility study, with Alligator targeting first production at the Samphire project by the early part of the next decade.
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