Alligator Energy snaps high-grade uranium intercepts
THE DRILL SERGEANT: Northern Territory-focused uranium junior Alligator Energy has announced initial assay results from drilling at its Tin Camp Creek project.
The company has received results from the first two holes drilled at the Caramal prospect and the first hole drilled in the Two Rocks area.
Initial drilling at the Caramal prospect is targeting uranium mineralisation that was originally identified in the early 1970’s and has not seen any drilling since then.
Uranium intersections at Caramal include 11 metres at 3687parts per million from 18 metres.
Alligator is confident these initial drill holes will confirm the tenor and width of mineralisation supported by modern exploration techniques and will provide it with detailed information on the orientation of the mineralisation and offsetting fault structures.
This will enable Alligator to carry out effective targeting of extensions to the mineralisation.
“The uranium mineralisation is associated with intensely chlorite altered and brecciated meta-sediments which are considered equivalents to the Cahill Formation, the host unit to the Ranger uranium mineralisation,” Alligator Energy said in its ASX announcement.
“Preliminary structural interpretation indicates mineralisation is broadly parallel with lithological layering and foliation and is steepening towards the north.”
Although the drilling program is still in its early stages, Alligator said it has been encouraged by initial results for the following reasons:
– Results confirm the tenor and width of mineralisation indicated by 1970’s drilling:
– Drilling has intersected intense chloritic alteration assemblages which resemble the alteration assemblages known to occur at the Ranger Uranium Deposits; and
– The holes have provided valuable data relating to the structural setting of mineralisation in this location which to date support Alligator’s exploration model.
Alligator is continuing drilling at Caramal where it plans to to complete a further 3 to 4 drill holes in the current area before moving to South Horn radiometric anomalies.
The company said this will give it enough time to analyse the results of the current drilling and undertake detailed analysis of structural data before returning to Caramal to target the extensions to mineralisation.
Two diamond drillholes were also completed at Two Rocks when the drilling program commenced.
These holes were drilled to follow up on anomalous copper and uranium intersections from the historic RAB drilling and to test a separate geophysical anomaly, located a further 1.5 kilometres to the northeast.
The first of these holes produced uranium results with a low-grade, anomalous uranium intersected in the upper part of the drill hole associated with chlorite and hematite altered meta sediments interpreted as equivalents to the lower Cahill Formation.
Base metal and rare earth element assays are pending while further drilling is planned to test the area to the immediate west and south of the drillhole to test structures interpreted from analysis of a recently acquired high resolution airborne geophysical survey.