EL 27250 Beatrice East Annual and Final report 9 December 2015 to 15 December 2016

Abstract

This Annual Report is regarding 'The Beatrice East Project' located in West Arnhem Land approximately 280 km east of Darwin and 70 km east of Jabiru. The project is comprised of a single exploration licence (EL), EL 27250 which is held by Northern Prospector Pty Ltd, a wholly owned subsidiary of Alligator Energy Ltd (AGE). The tenement was granted on 09 December 2013 for a period of 6 years. This report is for the third and final year of tenure, during which the tenement was subsequently surrendered on the 15th December 2016. The tenement consists of 13 sub-blocks for a total area of 28.92 km. Alligator Energy's exploration of the Beatrice East project began during the 2014 field season. Work undertaken on the tenement to 15th December 2016 has resulted in the collection of 57 surface rock chip samples for lead isotope analysis. Field work during the reporting period 09 December 2015 to 15 December 2016 was negligible, however research, geological reviews, data management and consulting services incurred expenditure for the tenement. The contents of this report detail all work for the 2015-2016 reporting period and all exploration undertaken by Alligator Energy since the tenement was granted. Summaries of all known historical exploration are also included. The tenement is considered prospective for unconformity-style uranium deposits similar to Ranger, Jabiluka and Koongarra. Cameco Australia highlighted the potential of Westmoreland style mineralisation as an additional mineralisation target model for the area. Though this model may merit additional work in parts of the ARUP, conglomeritic layers within local Kombolgie sandstone appear limited, and occur mainly within lower parts of the sequence. During this reporting period, the project was assessed in conjunction with all Alligator operated tenements and applications. The Beatrice East area remains highly prospective, however due to restricted ground access and thickness of Kombolgie sandstone cover ongoing exploration is not viable within the current economic setting.