ELs 31480 and 29993 Nabarlek North Project RC Drilling

Abstract

Alligator Energy has successfully completed the proposed RC drilling program on the North Narbalek license package as part of the Geophysics and Drilling Collaborations Program; NABARLEK NORTH RC PROJECT Round 17, 2024-2025. The Geophysics and Drilling Collaborations (GDC) program is a competitive grants program funded by the NT Government's $9.5 million per annum Resourcing the Territory program and is administered by the Northern Territory Geological Survey (NTGS). The outcomes of the program are expected to improve geological knowledge and mineralisation targeting within a region, particularly at depth. The RC program objectives is to define the key lithologies and structures in target zones identified from previously completed work programs. Using all the available data sets (geological mapping, radiometric, magnetics etc.), Alligator Energy has identified these zones in under explored areas of the tenement package that have not been subjected to basement intersecting work. The nearest reference holes and sample information are from a string of RAB holes drilled along the Arnhem highway (maximum depth 36 meters) and a co-funded cored hole 23 km from the nearest RC target zone (DDHTP11 drilled in 1972). This program has increased geological knowledge in the underexplored area through identifying sub-surface structures that are evident on previously available datasets. This structural information will be used to identify the potential for uranium hosted formations (lower and upper Cahill formation) that will be defined in subsequent exploration programs. It is understood, based on recent exploration done by both Alligator Energy and DevEX to the south, that the regional geology, in general shallows to the north. DevEX's U40 prospect, located to the south of the RC target area, further supports the region's potential to host an extractable resource of uranium. It is the consensus of Alligator Energy's technical team that the U40 uranium occurrence is a fracture hosted zone of the upper Cahill formation that has ultimately been derived from a deeper zone (lower Cahill) and remobilized. This RC program will prove vital in confirming this while identifying correlation between lithologies intersected through drilling and features showing on the geophysical data sets. There are many uranium deposits and occurrences (e.g Jabiluka, Ranger, U40) proximal to the Alligator Energy license package. Whilst some of these deposits are considered large, their footprint on geophysical/radiometric/magnetic data sets is subtle or in some cases, unremarkable on the available, regional scale datasets. The newly acquired study complements and builds to the regional datasets available in the area regional while assisting Alligator Energy in future exploration planning.