Quality Projects – Quality Targets – High Grade Uranium
Alligator is exploring a highly prospective tenement holding covering over 650sq km in the ARUP. The two active Project areas are the Tin Camp Creek Project and the Beatrice JV Project.
These project areas cover key structural corridors, extensive occurrences of the prospective Cahill Formation and numerous occurrences of high grade uranium. Importantly, these tenements cover the margins of the McArthur Basin (Kombolgie Sandstone) under which little systematic exploration has been undertaken. Alligator considers these areas to be analogous to the Athabasca Basin in Canada where substantial world class uranium deposits have been discovered at the base of the sandstone basin.
Over thirty prospective target zones have been identified on these project areas and will be assessed through a disciplined exploration approach and innovative exploration techniques.
The company also holds an additional 1000sq km of Exploration Licence applications in the terrane which it is steadily progressing through the Aboriginal Land Rights Act (ALRA) process.
Location of Alligator’s two active Project areas – Tin Camp Creek and Beatrice JV. A selection of known occurrences are also shown highlighting the metal rich nature of the region. All of the known occurrences are near surface and occur around the margins of the Kombolgie Sandstone. The extensive areas covered by Kombolgie Sandstone remain largely unexplored by drilling and are a focus for Alligator’s ongoing exploration.
Tin Camp Creek
The Tin Camp Creek Project consists of three Exploration Licences, EL24921, EL24922 and EL25002. Since 2011, Alligator has defined the Caramal Resource (6.5Mlb U3O8 at 3100ppm U3O8) and intersected uranium mineralisation at a number of prospects in the Project area. Best recent and historic intersections on the Project area include:
- Mintaka (2012) – 5m @ 1240ppm U3O8
- Gorrunghar – 5m @ 2644ppm U3O8
- NE Myra (2014) – 3m @1489ppm U3O8
- South Horn – 15m @ 4700ppm U3O8
Broad areas of distinctive chlorite alteration and multiple near surface high grade uranium occurrences highlight the prospectivity of the Project area.
Up until the beginning of 2014 the majority of exploration had been undertaken in the vicinity of near surface occurrences such as Caramal, South Horn and NE Myra. In 2014, the company began to employ its newly developed techniques to explore under the extensive areas covered by Kombolgie Sandstone. Since 2014, numerous quality targets have been identified characterised by extensive radiogenic isotope anomalies, favorable geophysical responses indicating the presence of altered host rocks of the prospective Cahill Formation. Systematic evaluation of these targets is underway.
The Caramal Resource
A JORC compliant inferred resource of 944kt at 3100ppm U3O8 was announced in April 2012 for the Caramal Deposit. The deposit is hosted by the lower Cahill Formation, the same rocks that host the world class Ranger and Jabiluka deposits. The deposit exhibits marked similarities in lithology, alteration and mineralogy to the Ranger deposits. While potential remains for additional smaller resources in the broader Caramal structural trend, the company’s current focus is on targets with potential for >100Mlb U3O8 deposits.
In December 2014, Alligator entered into a Joint Venture with Cameco Australia Pty Ltd (Cameco) to farm-in to Cameco’s Beatrice Project in the Alligator Rivers Uranium Province where by Alligator may earn a 51% interest in the project by expending $250,000 by 2 July 2016. The Beatrice Project is comprised of ELs24291 and 26796 and ELAs 26793, 26794, 26795 (held 100% by Cameco) and is located to the immediate south of the Tin Camp Creek Project area. The total project area covers 481km2. The Beatrice JV Project tenements form a contiguous land holding with the TCC Project area that will allow Alligator to pursue extensive prospective structures and mineralised trends identified by exploration on the adjacent TCC Project area. The project area contains known uranium occurrences including the historic Beatrice prospect. Limited drilling on this prospect by Cameco in 2009 returned a best intersection of 19 metres at 3,626ppm U3O8 (Alligator 2015 re-assay). This uranium mineralisation is spatially associated with a Sub Audio Magnetics (SAM) anomaly and a sub-circular surface radiometric anomaly. This Beatrice SAM anomaly has a 500m strike length which is untested. The surface radiometric anomaly extends south from the area drilled and also remains untested.
The Beatrice Prospect is but one of a number of highly prospective target areas on the Beatrice JV Project area. A series of outstanding targets have been identified for systematic exploration characterised by widespread uranium and radiometric anomalies associated with major structural trends and the interpreted presence of the lower Cahill Formation. For example, anomalous uranium and strong radiometric anomalies occur along the 30km strike length of the Beatrice Fault zone between the Violet Prospect (21m @412ppm U3O8) and the South Horn Prospect (14m @ 4,700ppm U3O8) on the adjoining Tin Camp Creek Project area.
The Beatrice Project was identified by Alligator as a priority area for exploration, initially based on the presence of prospective regional structures which host uranium mineralisation at South Horn and Mintaka on the adjacent Tin Camp Creek Project. Work undertaken by Alligator in 2014, most notably SAM geophysical surveys and an extensive radiogenic pathfinder geochemical survey highlighted these broad structural zones which extend from the Orion South area into the Beatrice Prospect area.