Alligator Energy Expands Uranium Mineralisation 600 Metres South of Blackbush at Samphire Project

Alligator Energy’s Role in South Australia’s Uranium Industry

Alligator Energy Ltd manages the Samphire uranium project, a prominent exploration and pre-development asset situated in South Australia. The company aims to become a mid-tier uranium producer by systematically evaluating and defining its mineral resources. The Samphire project includes multiple deposits such as Blackbush, Plumbush, and the connecting corridor, collectively forming a substantial uranium resource base within one of Australia’s established uranium-producing regions.

The company’s strategy focuses on advancing Samphire through feasibility studies and detailed resource assessments. The recent acquisition of access rights to the Mullaquana Crown Lease via a call option agreement has opened previously inaccessible ground south of Blackbush, allowing systematic drilling to test mineralised extensions. This move underscores Alligator’s commitment to expanding its resource base and laying groundwork for future mining operations in the area.

Southern Extension Drilling Confirms Uranium Mineralisation 600 Metres Beyond Prior Limits

Alligator Energy’s drilling team has successfully identified economic uranium grades extending approximately 600 metres south of 2024 drilling, marking a significant expansion of the Blackbush mineralised trend. This extension onto the Mullaquana Crown Lease confirms continuity of mineralisation beyond earlier deposit boundaries. The program has also helped delineate the western paleochannel boundary, a key structural control on uranium mineralisation within the Samphire project.

Noteworthy intersections include hole BBRM26-482, which returned 5.0 metres at 0.13% eU₃O₈ (1,299ppm) from 63.6 metres depth with a gamma ray grade of 6,495 metres.ppm, and hole BBRM26-484, intersecting 2.4 metres at 0.20% eU₃O₈ (2,025ppm) from 61.0 metres depth with a gamma ray grade of 4,818 metres.ppm. The 0.20% grade in BBRM26-484 is the highest recorded in this drilling phase, indicating economically significant mineralisation supporting further resource expansion potential.

Blackbush Delineation Drilling Validates Existing Mineral Resource Model

Alligator Energy has completed an additional 108 delineation holes within the current Blackbush Mineral Resource area, targeting higher-grade zones and tightening drill spacing to as close as 25 by 25 metres. This enhanced density aims to improve geological confidence for mine planning and refine the resource model. Results from these holes align closely with the existing Mineral Resource model, demonstrating consistency between previous estimates and new data.

Data from this delineation program will contribute to an updated Blackbush Mineral Resource Estimate expected in Q1 or Q2 2027. This update will incorporate new drilling results and support ongoing wellfield layout and mine design evaluations within the Samphire Feasibility Study. The consistency of new data with the current model strengthens technical confidence and provides a solid basis for detailed engineering planning toward potential development.

Plumbush Infill Drilling Targets Upgrade to Indicated Resource

Infill drilling has recently commenced at the Plumbush deposit, marking the first drilling there since 2011. This program aims to convert the Plumbush Inferred Mineral Resource to Indicated status, enhancing geological confidence and enabling potential inclusion in the Samphire Feasibility Study. Drill spacing will be reduced progressively from 200–400 metres to 25–50 metres to meet classification requirements.

Historical drilling by UraniumSA Limited at Plumbush identified significant uranium mineralisation, including hole MRM1080, which intersected 2.9 metres at 0.25% eU₃O₈ (2,536ppm) from 65.7 metres depth. This historical data highlights Plumbush’s prospectivity. The current infill program builds on these results to establish a dense drill grid supporting Indicated resource classification and providing a foundation for feasibility-level engineering and mine planning.

Mullaquana Crown Lease Access Unlocks Southern Extension and Corridor Targets

The recent call option agreement securing access to the Mullaquana Crown Lease has been critical in enabling drilling of Blackbush’s southern extension and exploration of the corridor between Blackbush and Plumbush. Before this access, approximately 600 metres of potential mineralised extension to the south was largely untested. The option grants immediate drilling access and a potential pathway to lease acquisition, subject to exploration and feasibility results.

This access unlocks a 5-kilometre prospective corridor between the two deposits, representing a significant uranium mineralisation target. Systematic drilling is underway to test for additional mineralisation in this underexplored zone, which could add to Samphire’s overall resource inventory. Access to this corridor is a key element of Alligator’s Samphire Growth Strategy and may increase the resource base supporting the Feasibility Study.

Drilling Program Accelerated with Two Rigs Operating Continuously

Alligator Energy has shifted to a continuous day-shift drilling schedule with two rigs operating simultaneously, significantly accelerating drilling compared to earlier phases. This scale-up aims to complete the approximately 300-hole program by the end of Q4 2026, maintaining momentum in the Samphire Growth Strategy. The dual rigs enable concurrent drilling of the southern extension, Blackbush delineation, and Plumbush infill programs, optimizing resource use and speeding data collection.

Management’s confidence in the targets’ prospectivity is reflected in this operational acceleration. CEO and Managing Director Andrea Marsland-Smith noted the rapid transition from securing Mullaquana Crown Lease access to deploying two rigs, demonstrating strong execution capability. This pace is expected to deliver drilling and geological data essential for the Samphire Feasibility Study and resource estimate updates planned for early 2027.

Integration with Samphire Feasibility Study and Resource Update Timeline for Early 2027

All drilling and geological data from the current program are being progressively integrated into the Samphire Feasibility Study, which encompasses mine planning, metallurgical testing, environmental and regulatory approvals, and economic analysis. The drilling outcomes and resource updates will provide critical inputs to assess the viability and economics of potential mining operations at Samphire.

Alligator Energy expects to publish an updated Blackbush Mineral Resource Estimate in Q1 or Q2 2027, incorporating delineation and extension drilling results. This update will precede ongoing Feasibility Study work and mine planning. The phased approach ensures resource estimates reflect the latest geological data and comply with JORC 2012 standards.

Uranium Grade Estimation and Assay Quality Assurance

Reported uranium grades are expressed as equivalent uranium oxide (eU₃O₈) derived from calibrated downhole natural gamma logging rather than chemical assays. This method enables rapid grade estimation during drilling and provides initial geological insights. Gamma ray grades (GT) in metres.ppm represent integrated gamma response over mineralised intervals, indicating uranium mineralisation intensity.

All reported widths are downhole intervals, not true vertical or stratigraphic thicknesses. Full drill-hole information and JORC Table 1 disclosures, including quality assurance protocols, are available in the company update’s Appendix 1. This transparency aligns with ASX listing rules, ensuring investors can accurately interpret geological data and confidence levels of reported intersections.

Strategic Significance of Uranium Market Dynamics for Samphire Project

Alligator Energy’s accelerated Samphire development occurs amid a global surge in uranium demand driven by the transition to carbon-free energy. Advanced economies are increasingly prioritizing nuclear power for climate and energy security reasons, boosting interest in uranium exploration and development, especially in stable jurisdictions like Australia with strong regulatory frameworks.

This positive uranium market outlook supports Alligator Energy’s case for advancing Samphire toward production. The company’s focus on resource growth and feasibility positions it to capitalize on expected demand for Australian uranium. The recent drilling successes align with market trends favoring companies with expanding, well-defined resources in low-risk regions.

Risks to Resource Expansion and Project Timeline

Despite encouraging drilling results, Alligator Energy faces typical exploration and development risks. The planned conversion of Plumbush’s Inferred Mineral Resource to Indicated status depends on achieving sufficient drilling density and geological continuity per JORC 2012 standards. Unexpected geological complexities could impact this upgrade.

Completion of the approximately 300-hole drilling program by Q4 2026, though supported by two rigs, remains subject to operational, weather, and access challenges common in field exploration. Timely integration of drilling data into resource models and the Feasibility Study also depends on efficient geological interpretation, which may be affected by data complexity. Investors should monitor updates on drilling progress, data quality, and any changes to the 2027 resource estimate and feasibility timelines.