EXPLORATION & DEVELOPMENT

Alligator gives more teeth to Blackbush

ALLIGATOR Energy has delivered an updated resource for its Blackbush uranium deposit in South Australia, improving the scale and grade over the last estimate in September.

 Samphire drilling has resumed

Samphire drilling has resumed

The deposit, within the Samphire project near Whyalla, has been increased by 23% from to 18.1 million pounds of contained uranium, while the average grade has improved 8% to 720 parts per million.
 
Drilling to the end of December has ensured indicated resources now account for 60% the deposit.
 
The new resource will feed into a scoping study that is due for delivery by the end of the month.
 
A pilot-scale in-situ recovery program will follow later in the year.
 
The field trial is expected to be small and short but will deliver invaluable data for future development planning.
 
Alligator has a landholder agreement in place and is seeking government approval for the tests.
 
Leach tests completed last quarter show recoveries of 92-96%.
 
Past studies completed over Blackbush in 2011 suggest a 600tpa operation would have production costs around US$25/lb. 
 
Drilling has recently commenced at Blackbush, initially for water monitoring.
 
Infill and extensional drilling around Blackbush West and East will follow, with CEO Greg Hall saying the work would be "near continuous" through the year, aside from planned breaks around the pastoralists lambing season in May and June.
 
Alligator had around A$23 million at the start of the quarter to fund work at Samphire, Nabarlek North in the Northern Territory, and its and Piedmont nickel-cobalt project in Italy.
 
It has traded at 3.4-11.5c over the past year, and its shares were 3.9c today, capitalising it at $123 million.

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