Alligator Energy (ASX:AGE) confirmed preliminary findings of a new uranium discovery in its inaugural drilling program at the Big Lake project in South Australia, according to a Wednesday filing with the Australian Securities Exchange.
The company found "significant uranium" in shallow basin sediments above the Cooper Basin, with oxidized and reduced sands in holes drilled at Site 10 indicating uranium is present in an amenable host environment, the filing said.
Finalizing approvals for follow-up drilling in the area for the first quarter of 2025 is underway, according to the filing.
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