‘First major greenfield discovery in area since 2007’
The first drilling by Alligator Energy at its Big Lake Project in South Australia has resulted in the first significant greenfield discovery of uranium in South Australia since 2007, the company said.
The Queensland-based company said the “significant new uranium discovery” is the first proof of concept that significant uranium is present within the Lake Eyre basin sediments that lie above the hydrocarbon-rich Cooper Basin.
“The thickness extent of mineralisation layers ranging up to 20 metres in these discovery holes is impressive for this style of mineralisation,” said chief executive officer Greg Hall.
“The discovery appears to validate the uranium formation model developed by the previous Big Lake geologists from whom Alligator acquired the initial tenement, and we acknowledge their work.”
Alligator owns 100% of the Big Lake project where it is targeting discovery of Australia’s next in-situ recovery uranium field.
Drilling resumed at Big Lake on 8 August after a three-week break due to rain affecting access.
Alligator Energy said last month it had made progress at key uranium projects in Australia, advancing lease applications, exploration drilling, magnetic and radiometric surveying and beginning the inaugural drilling programme at Big Lake.
“The team at Alligator remains exceptionally busy on preparations ahead of the anticipated final approvals for the field recovery trial, our first foray into the Cooper Basin targeting the potential to be a new uranium-bearing basin at Big Lake and finalising plans for our 2024 drilling programme at Nabarlek North,” Hall said.
