(NewsDirect)
Alligator Energy Ltd (ASX:AGE, OTC:ALGEF)Managing Director and CEO Greg Hall speaks to Thomas Warner fromProactive after the uranium and energy metals project development andexploration group announced two key updates from its Samphire UraniumProject in South Australia.
Hallstarts by addressing the resource upgrade at the project, saying thatthe company has successfully converted much of the inferred qualityresources into a higher quality indicated resource. Along with theresource upgrade, Alligator has defined an exploration target range of6Mt (million tonnes) to 37Mt at a grade between 390 and 903ppm eU3O8(U3O8 equivalent basis) for a range of 14Mlbs to 75Mlbs of containedeU3O8 at 250ppm cut-off for Samphire Regarding future drilling plans,Hall confirmed that drilling rigs are scheduled to operate throughoutthe year.
This drilling will notonly cover the current resource envelope but also extend into thenewly identified exploration target range, potentially increasing theproject's lifespan or production rate. Hall also highlighted thecompany's progress towards a pilot field trial for in-siturecovery mining, a key component of their feasibility study plannedfor the second half of the year. This trial will assess the chemistryand economics of the extraction process. Finally, Hall spoke aboutupdating their March 2023 scoping study.
Changes include anincreased indicated resource, a higher production rate, and theadjustment of the uranium price from $65 to $75 per pound. The updatedstudy, which is nearing completion, reflects more accurate projectcosts and contingencies based on recentdevelopments.
Contact Details
JonathanJackson
+61 413 713 744
Jonathan@proactiveinvestors.com
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