Planning pays off for Alligator Energy
AlligatorEnergy (ASX:AGE) has published its quarterly activities report along with anupdated investor presentation.
Alligatoris an ASX-listed exploration company focused on uranium and energy relatedminerals, principally cobalt-nickel. The company is focused on the discovery oflarge economic high grade energy related metal deposits (uranium, nickel,cobalt) with clear pathways for approval and development.
Thecompany projects comprise the Piedmont Cobalt-Nickel-Copper Project in Italyand the Alligator Rivers Uranium Projects in the Northern Territory.
Alligator Rivers Uranium Province(ARUP)
Inthe Alligator River Projects, AGE has a drill ready high quality uranium targetand significant land holding in world class uranium province. The company isfocused on the discovery of large (>100Mlb), high grade (>3000ppm U3O8)uranium deposits with clear pathways for approval and development.
AGEused the wet season from January through to April to plan and prepare for theforthcoming exploration season on the Tin Camp Creek and Beatrice project areasin the Alligator River Uranium Province (ARUP).
Get the latest articles straight to your inboxkeep me postedIt'sworth noting that this is an early stage play and investors should seekprofessional financial advice if considering this company for their portfolio.
Tenement applications continue for the mostprospective Alligator River's titles, including the Nabarlek North project,which it is hoping to complete during the second half of the year.
AGEbegun its 2018 work season at the Alligator Rivers Projects with a post wetseason site visit and Work Program Meetings have now been scheduled for TCC andBeatrice Projects.
After the end of the quarter Alligator acquired theremaining 41.65% interest in the Beatrice Project tenements taking AGEownership to 100%.
Explorationfield work is expected to re-commence in July 2018 and will initially involvethe re-establishment of access tracks and re-opening of Myra camp. Alligatorcontinues to advance its pipeline of targets, of which TCC4 remains the mostadvanced at "drill ready status".
Alligatoris actively assessing the opportunities for funding or investment into TCC4 todrill test its promising uranium target. Stakeholder consultation has beenscheduled for the second quarter and regulatory compliance documentationprepared, this will allow for rapid ground access should funding be receivedfor this drilling program.
PiedmontProject
During the quarter ending March 31, AGE executed abinding Heads of Agreement with Chris Reindler and Partners to earn up to a 70%interest in the Piedmont sulphide cobalt-nickel project in Northern Italy.
Planning is now well advanced, ready to commenceexploration with on-ground activities scheduled for early May 2018 in thehistoric mining district.
During the March quarter the compilation anddigitization of currently available historic data was completed, along with thedetailed re-processing of the 2015 flown EM and Magnetic survey.
This has identified in particular a significant andtotally untested EM anomaly located between two historic mines, and formed thefoundation for the phase 1 work program allowing a focussed concise effort toestablish the potential for high quality economic mineralisation.
Logistics were finalised and field teams engagedallowing ground work to commence in early this month.
Additionally, during the quarter the company completeda successful share placement in which it raised $693,000 (before costs).
It also appointed as Acting CEO, experienced miningexecutive Greg Hall, who comes to AGE with a deep understanding of theinternational uranium and nuclear sector and commodity markets in general.
Going forward, the company continues to evaluatefurther opportunities aligned with the expanded corporate strategy.
Here is a timeline of AGE's Piedmont Projectexploration plans:
