Alligator Energy shares soared higher today after a positive announcement on the ASX.
During midday trading, the uranium miner’s shares soared 15% to an intraday high of 11 cents before retracing during the day. The share price in the morning reported “exceptional high-grade uranium results” from the Samphire Uranium Project in South Australia.
According to the company, it has received strong results from resource infill drilling, a downhole prompt fission neutron (PFN) logging program, and further sonic core results. The company stated that a rotary mud (infill) drilling program in the Blackbush deposit has concluded ahead of schedule. All holes were successfully logged with PFN, three-arm caliper, resistivity, neutron porosity, and natural gamma.
The high performing results included:
Hole 021 at 3.44 metres at 0.854% pU3O8 from a depth of 56.88 metres;
Hole 026 at 4 metres at 0.706% pU3O8 from a depth of 63 metres;
Hole 020 at 4,24 metres at 0.414% pU3O8 from a depth of 61.23 metres; and
Hole 034 at 4.35 metres at 0.313% pU3O8 from a depth of 69.10 metres.
The miner’s CEO Greg Hall stated: “… These results combined with the ongoing correlations with historical information are aimed to achieve our objective of increasing confidence levels in our Blackbush JORC resource.”
In the last year, the Alligator Energy share price has risen over 464%. This is primarily due to the trend in uranium futures which has almost doubled in a year.