Extension of Uranium Mineralisation at Samphire Uranium Project Blackbush Deposit

Alligator Energy Limited (ASX: AGE, ‘Alligator’ or ‘the Company’) is pleased to announce significant uranium mineralisation intersections from its resource extension drilling program at the Samphire Uranium Project, near Whyalla, South Australia.

Highlights

• Significant uranium intersections encountered in roll fronts in Alligator’s resource extension drilling at wider Blackbush deposit target areas.
  • A total of 49 holes drilled for 4,089m from late Jan to mid-April 2024.
  • Results support the exploration strategy outlined in Alligator’s Exploration Target Range¹.
  • Continued refinement in understanding the uranium roll front morphology at Blackbush is delivering step out targets for the next round of drilling, re-commencing mid-May.
  • Significant uranium mineralisation intersections include (see Figure 1 for full detail):
    • BBRM24-235 4.44 meters at 0.43% (4,370ppm) pU3O8 from 61.38m (GT 19,403)³
    • BBRM24-222 1.47 meters at 0.40% (3,992ppm) pU3O8² from 60.68m (GT 5,868)
    • BBRM24-224 0.75 meters at 0.64% (6,450ppm) pU3O8 from 63.57m (GT 4,837)
    • BBRM24-239 1.17 meters at 0.30% (2,971ppm) pU3O8 from 64.24m (GT 3,476)
    • BBRM24-238 0.60 meters at 0.37% (3,735ppm) pU3O8 from 67.50m (GT 2,241)
    • BBRM24-225 1.72 meters at 0.12% (1,170ppm) pU3O8 from 64.32m (GT 2,012)
      0.59 meters at 0.28% (2,756ppm) pU3O8 from 66.71m (GT 1,626)
    • BBRM24-217 3.07 meters at 0.05% (493ppm) pU3O8 from 58.47m (GT 1,514)
    • BBRM24-220 1.32 meters at 0.10% (978ppm) pU3O8 from 56.10m (GT 1,291)
• On return to the field the focus will be on further investigation of Extension Area 2 and assessing the expansion potential of the Blackbush West mineralisation into the Blackbush North Target Area (Figure 2).
• Drilling contractor engaged for sustained operations at Samphire for the remainder of 2024 with the objective of updating the JORC Resource Estimate in Q4.
• Ground gravity survey results are proving an invaluable tool for targeting roll-front uranium deposits in the Samphire paleochannels.

Alligator’s CEO Greg Hall stated: “We are pleased to see Blackbush deposit mineralisation extending within the immediate target areas of the current resource to the west and east initially. The resource geology team is becoming adept at finding the redox boundary between oxidised and reduced sands, and hence quickly narrowing the search for the potentially economic roll front structures. In some instances, we are aided by the great exploration work done by the predecessor company historical gamma drilling intersections.”

Samphire 2024 Drilling Program Rationale

Exploration drilling re-commenced at Samphire late January 2024 to investigate potential extensions to uranium mineralisation in the Kanaka Bed sands within the Samphire palaeochannel system surrounding the Blackbush deposit. Initial focus has been on Blackbush Extensions 1 and 2 Target Areas (Figure 2). To date, forty-nine (49) holes for 4,089m have been drilled.

For background, the palaeochannels are ancient structures eroded into the underlying granites (being the source of uranium), where the Kanaka bed sands have been deposited at approx. 60 to 80 m depth. Not all these Kanaka bed sands are mineralised. Rather the dissolved uranium moves through the sand pore spaces with the saline groundwater within sand layers until it encounters a reducing medium (e.g. pyrite, carbonaceous matter) when the uranium deposits out around the sand grains. These deposition structures are called “roll fronts” and are the main structures being targeted during resource extension drilling.

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