Samphire Uranium Project in South Australia Increases Resources to 30 Million Pounds

en.Wedoany.com Reported - Alligator Energy has significantly expanded the resource base at its Samphire Uranium Project in South Australia, with the first Mineral Resource Estimate (MRE) for the Plumbush deposit increasing the project's total uranium inventory by 67%.

The Plumbush deposit is estimated to contain an inferred resource of 12 million pounds of U₃O₈, located approximately 5 kilometers south of the existing Blackbush deposit, which hosts 18 million pounds of U₃O₈. The addition of Plumbush increases the total resource at the Samphire Project from 18 million pounds to 30 million pounds of U₃O₈, with all mineralization considered suitable for in-situ recovery processing.

Alligator stated that the initial resource estimate further validates the Samphire exploration target (14 million to 75 million pounds of U₃O₈) and represents a key step in converting that target into defined mineral resources. The new estimate also enhances the potential to develop multiple mineralized centers across the broader project area, which is expected to support the ongoing Bankable Feasibility Study (BFS).

Company CEO and Managing Director Andrea Marsland-Smith noted that this result validates the company's geological model and highlights the project's growth potential. "The maiden MRE at Plumbush further validates our geological model and the expansion potential of the Samphire Project, while diligently delivering an initial resource component within the exploration target range reported in 2023." She also stated that delivering a 12-million-pound MRE within 5 kilometers of Blackbush materially enhances the scale of Samphire, and drilling can now proceed immediately following the completion of access arrangements with landowners. Marsland-Smith said that as the BFS progresses, the expanded resource base provides a stronger platform, and the 30-million-pound MRE lays a more solid foundation for the company, with the potential for further MRE growth and conversion to indicated and measured resources through the upcoming extensive drilling campaign.

This resource upgrade coincides with Alligator securing critical land access rights for the project's future growth. The company has signed a call option agreement with Joyce Pastoral Pty Ltd to acquire the Mullaquana Crown Lease, which contains the Plumbush deposit and covers the southern extension of the Blackbush deposit. The agreement provides immediate exploration access to previously inaccessible land, supporting ongoing work to determine continuity between the two deposits, with all regulatory approvals in place to commence drilling.

Alligator plans an intensive drilling campaign for the remainder of 2026, targeting resource growth at Blackbush and Plumbush, while also testing the mineralized channel system between the two deposits. An updated MRE is expected to be announced in early 2027 and will serve as the basis for the BFS planned for release in mid-2027.

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