Alligator Energy makes ‘significant’ uranium discovery in South Australia

CEO says it is the first of its kind in the state since 2009

Shares climbed by more than 50% on the announcement

Alligator Energy has revealed a “significant” new uranium discovery made in the very first drilling at its Big Lake Project in South Australia.

The company owns 100% of the Big Lake Uranium Project in the Cooper Basin, South Australia, a project targeting discovery of Australia’s next ISR (In-Situ Recovery) uranium mine.

Alligator’s CEO Greg Hall said: “This is the first significant greenfields discovery of uranium in South Australia since the Samphire Uranium mine was discovered in 2009.”

“It is a major milestone for the company and for the state of South Australia and comes on the back of 18 months of methodical exploration including detailed geological mapping, selective surface sampling and IP surveys.”

Shares in the company climbed by more than 50% on the announcement.