Alligator Energy Limited (Stock Symbol – ASX: AGE) engages in mineral exploration activities in Australia.
The company primarily explores for uranium and other energy mineral deposits.
The company holds interests in the Tin Camp Creek and Beatrice projects.
Together these projects cover an area of approximately 650 square kilometers (250 square miles).
The land package for these two projects is located in the Alligator Rivers Uranium Province in the Northern Territory of Australia.
This region has produced over 300 million pounds of uranium for export to nuclear consumers around the world.
In October 2020, the company acquired the Samphire uranium project in southern Australia.
The Samphire project has two JORC mineral resource estimates completed at Blackbush and Plumbush.
The existing global resource for these two resource estimates total approximately 47 million pounds of uranium and includes:
- 64.5 million tonnes at 230 ppm containing 32.7 million pounds of uranium at Blackbush
- 21.8 million tonnes at 292 ppm containing 13.9 million pounds of uranium at Plumbush
Alligator also has a farm in agreement to earn a 100% interest in the Big Lake Uranium project.
The project is located in the southern Australian uranim jurisdiction known for existing uranium production, which already has government and public support.
The Big Lake Uranium project’s location is represented in red on the image above.
The project is anticipated to become an ISR extraction deposit which provides quick and cost effective means of aquiring the uranium.
An exploration licence for this project was granted in July 2019.
The terms of the farm in agreement required Alligator to pay Big Lake $10,000 once the agreement was signed along with the issue of 3 million ordinary shares.
To acquire a 100% interest, the company must spend at least $220,000 to progress the exploration and evaluation of the property and issue 30 million shares before July 2021.
Should the company not incur the minimum exploration expense it loses its interest.
In addition, if they should define a JORC resource of 25 million pounds of uranium or more within eight years, they will be required to issue another 30 million shares to Big Lake.
Alligator Energy is based in Brisbane, Australia.
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