Join our daily newsletter At The Bell to receive exclusive market insights
- Alligator Energy (AGE) commences its airborne gravity work at the Nabarlek North Project in the Alligator Rivers Uranium Province (ARUP), Northern Territory
- Further, the company’s mining management plan for the auger and rotary air blast (RAB) drilling program that has been approved
- CEO Greg Hall says the ARUP is an important primary exploration area for Alligator Energy, and is the region with the highest-grade uranium in Australia
- The company expects the information gained from its first exploration works with the airborne gravity results will inform the targeting of a deeper reverse circulation (RC) drill testing program
- Shares closed 7.14 per cent, trading at six cents
Alligator Energy (AGE) has commenced its airborne gravity work at the Nabarlek North Project in the Alligator Rivers Uranium Province (ARUP), Northern Territory.
Further, the company’s mining management plan for the auger and rotary air blast drilling (RAB) program has also been approved.
The company believed that sufficient shallow sandstone sub-crop and sedimentary cover still exist across the project area to mask radiometric responses of any mineralisation in the region, making it an excellent exploration target.
The gravity survey will be flown by the Xcalibur Group, utilising the Falcon Plus system and purpose-built airborne gravity gradiometer towed by a fixed wing light aircraft.
CEO Greg Hall said the ARUP is an important primary exploration area for Alligator Energy, and is the region with the highest-grade uranium in Australia.
“The gravity survey followed by auger and RAB drilling will be our first work program on the Nabarlek North Project, which is in a region where the overlying Kombolgie sandstone is shallow, or weathered away, and hence is extremely attractive for exploration of high-grade uranium,” he said.
“The extensive work and engagement undertaken by Alligator in Arnhem Land in previous years has contributed to our successful and important Agreement over the Nabarlek North Project with the Traditional Owners.”
The company expects the information gained from its first exploration works with the airborne gravity results will inform the targeting of a deeper reverse circulation (RC) drill testing program.
The work program was previously approved by Traditional Owners at a Northern Land Council-facilitated work program meeting which paved the way for execution of the airborne gravity survey and regional auger and RAB follow-up drilling.
Shares closed 7.14 per cent higher, trading at six cents.
