Alligator Energy Expands Samphire Uranium Resource by 67%

Alligator Energy has increased the uranium resource at its Samphire project in South Australia by 67%, adding a maiden 12 million pounds at the Plumbush deposit. The total mineral resource estimate now stands at 30 million pounds of uranium oxide, all classified as amenable to in-situ recovery.

The Plumbush resource, classified as Inferred, sits 5 kilometres south of the existing Blackbush deposit. SRK Consulting prepared the estimate using historical drilling data from UraniumSA, which completed 85 mud rotary holes between 2009 and 2011. The resource sits within the Kanaka Beds and Melton Sands of the Samphire palaeochannel.

Chief executive officer Andrea Marsland-Smith said the maiden estimate strengthened confidence in the broader Samphire model. “This maiden MRE for Plumbush provides further validation of the expansion potential of the Samphire project,” she said. “Delivering a 12Mlb MRE located within 5km from Blackbush materially enhances the scale of Samphire.”

Alligator expects the expanded resource base to support its bankable feasibility study, which is underway and scheduled for release in mid-2027. The company plans an aggressive multi-rig drilling program for the remainder of 2026, including infill drilling at Blackbush to upgrade parts of the Indicated resource to Measured, and further delineation at Plumbush. An updated MRE is anticipated in early 2027.

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.”

Alligator has also executed a binding call option 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 July 1 and 18 months to evaluate before deciding whether to exercise. The final acquisition cost is $6.75 million.

Marsland-Smith said the option provided a practical pathway to unlock exploration upside while preserving capital discipline. 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.

An updated MRE due in early 2027 and the BFS in mid-2027 will test the project's economics. Success would confirm the scale needed for a development decision. Risks include cost overruns or a sustained drop in uranium prices. Alligator's ability to fund the drilling program and option payment without dilution will also be a factor.

The ASX small-cap stories that matter, filed before 9am AEST. Curated by the Small Caps desk.