Alligator Energy Ltd (ASX:AGE, OTC:ALGEF) Managing Director and CEO Greg Hall speaks to Thomas Warner from Proactive after the uranium and energy metals project development and exploration group announced two key updates from its Samphire Uranium Project in South Australia.
Hall starts by addressing the resource upgrade at the project, saying that the company has successfully converted much of the inferred quality resources into a higher quality indicated resource. Along with the resource upgrade, Alligator has defined an exploration target range of 6Mt (million tonnes) to 37Mt at a grade between 390 and 903ppm eU3O8 (U3O8 equivalent basis) for a range of 14Mlbs to 75Mlbs of contained eU3O8 at 250ppm cut-off for Samphire Regarding future drilling plans, Hall confirmed that drilling rigs are scheduled to operate throughout the year.
This drilling will not only cover the current resource envelope but also extend into the newly identified exploration target range, potentially increasing the project's lifespan or production rate. Hall also highlighted the company's progress towards a pilot field trial for in-situ recovery mining, a key component of their feasibility study planned for the second half of the year. This trial will assess the chemistry and economics of the extraction process. Finally, Hall spoke about updating their March 2023 scoping study.
Changes include an increased indicated resource, a higher production rate, and the adjustment of the uranium price from $65 to $75 per pound. The updated study, which is nearing completion, reflects more accurate project costs and contingencies based on recent developments.
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