The first drilling by Alligator Energy at its Big Lake Project in South Australia has resulted in the first significant greenfield discovery of uranium in South Australia since 2007, the company said.
The Queensland-based company said the “significant new uranium discovery” is the first proof of concept that significant uranium is present within the Lake Eyre basin sediments that lie above the hydrocarbon-rich Cooper Basin.
“The thickness extent of mineralisation layers ranging up to 20 metres in these discovery holes is impressive for this style of mineralisation,” said chief executive officer Greg Hall.