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Title

• Company Name: Alligator Energy Limited
• Stock Ticker: ASX: AGE
• Document Title: ASX Announcement
• Date of Report: 1 May 2024
• Total Number of Pages: 9

Summary

Alligator Energy Limited has announced significant findings from its drilling program at the Samphire Uranium Project in South Australia. The program aimed to extend the known uranium mineralisation within the Blackbush deposit and surrounding areas.

Highlights

• Successful intersection of significant uranium mineralisation in the Blackbush deposit extension areas.
• Drilling program consisted of 49 holes for a total of 4,089 meters from late January to mid-April 2024.
• Notable mineralisation intersections include grades up to 0.64% pU3O8.
• The company plans to continue drilling in mid-May 2024 to further explore the extension areas and update the JORC Resource Estimate by Q4 2024.

Positives

• Positive results support the company's exploration strategy and understanding of uranium roll front morphology.
• Continued drilling has confirmed the presence of roll fronts, crucial for future exploration and potential resource expansion.
• Engagement of a drilling contractor for sustained operations throughout 2024, highlighting ongoing commitment and resource investment.

Negatives

• Some drill intercepts returned lower grades, indicating variability in mineralisation which may affect overall resource estimation and economic viability.
• The forward-looking statements in the report indicate inherent risks and uncertainties that could impact the company's future performance.

Key Dates

• Mid-May 2024: Resumption of drilling activities.
• Q4 2024: Planned update of the JORC Resource Estimate.

Alerts

• The report contains better than expected results in terms of mineralisation extent and grades within targeted extension areas.

Sentiment

• Buy: The current findings and strategic exploration plans suggest potential for significant resource growth and positive future outcomes.

Disclaimer

Please note that the analysis provided here is for informational and educational purposes only and does not constitute financial advice. Seek professional financial advice before making any investment decisions.