Alligator Energy Grows Uranium Resource at Samphire Project by 67%

Alligator Energy (ASX: AGE) has increased the total mineral resource estimate (MRE) at its 100%-owned Samphire uranium project in South Australia by 67% after defining a maiden resource at the Plumbush deposit.

The new Inferred MRE at Plumbush stands at 12 million pounds of uranium oxide (U3O8), based on 14.9 million tonnes at 370 parts per million U3O8.

Its addition lifts the combined Samphire project resource from 18Mlb to 30Mlb U3O8, with all reported material assessed as amenable to in-situ recovery.

Alligator expects the expanded resource base to support its bankable feasibility study (BFS), which is currently underway and scheduled for release in mid-2027.

Plumbush Adds Scale

Plumbush is located about five kilometres south of the existing Blackbush deposit, where Alligator previously defined an 18Mlb U3O8 MRE.

The maiden Plumbush estimate was prepared by SRK Consulting using historical drilling data from UraniumSA, which completed 85 mud rotary holes across the deposit between 2009 and 2011.

Uranium grades were determined from calibrated downhole gamma geophysical sonde measurements, with the resource reported in accordance with the JORC 2012 Code.

The Plumbush resource sits within the Kanaka Beds and Melton Sands of the Samphire palaeochannel and includes only material considered amenable to ISR extraction.

Exploration Target Support

The new resource provides early validation of Alligator’s previously reported Samphire Exploration Target of 14Mlb to 75Mlb U3O8.

Alligator considers Plumbush an important step toward converting more of that target range into defined mineral resources across the broader project area.

The result also supports the potential development of multiple mineralised centres within Samphire rather than a single-deposit development case based only on Blackbush.

Increased scale could allow Alligator to assess future mining inventory, infrastructure synergies, and operating flexibility as the BFS progresses.

Drilling Program Planned

Alligator plans to conduct an aggressive multi-rig drilling program across Samphire for the remainder of 2026.

Work at Blackbush will include infill drilling on a nominal 25m-by-25m spacing to upgrade parts of the Indicated resource to the Measured category and test mineralisation south of the existing MRE boundary.

Plumbush drilling will target further resource delineation and support potential upgrades in resource classification.

Reconnaissance and follow-up delineation drilling will also test the mineralised channel system between Blackbush and Plumbush, with an updated MRE anticipated in early 2027.

Stronger Model Confidence

Chief executive officer Andrea Marsland-Smith said the maiden Plumbush estimate strengthened confidence in the broader Samphire model.

“This maiden MRE for Plumbush provides further validation of […] the expansion potential of the Samphire project, while also diligently delivering the initial resource component of our Exploration Target range reported in 2023,” she said.

“Delivering a 12Mlb MRE located within 5km from Blackbush materially enhances the scale of Samphire, with immediate drill ready targets now accessible following the finalisation of access arrangements with the landholder.”

Ms Marsland-Smith said the expanded project resource provided a stronger base for ongoing feasibility work.

“We intend to deliver a further update to the MRE in early 2027, which will form the base to be incorporated into the bankable feasibility study that is expected to be released in mid-2027.”

Mullaquana Access Secured

Alligator has also executed a binding call option agreement to acquire the Mullaquana Crown Lease from Joyce Pastoral, giving it immediate exploration access across ground hosting Plumbush and the southern extensions of Blackbush.

The agreement includes an initial $500,000 option payment due around 1 July and gives Alligator 18 months to undertake exploration, technical assessment, and commercial evaluation before deciding whether to exercise the option.

The final acquisition cost has been set at $6.75m and will only become payable if Alligator elects to acquire the property.

The ground had previously been constrained by access limitations but now opens drilling opportunities across the Blackbush-Plumbush corridor, including the southern strike extension of Blackbush, infill and extension work at Plumbush, and limited-drilled ground between the two deposits.

Ms Marsland-Smith said the option provided a practical pathway to unlock exploration upside while preserving capital discipline, adding that Alligator was “excited to test the potential to join the two deposits.”