Key Highlights

  • Alligator reported mineralisation above a 250ppm eU3O8 cut-off about 1 km south of the previously southernmost known Blackbush drill hole.
  • Holes BBRM26-590 and BBRM26-592 returned 5.2 m at 0.15% eU3O8 and 6.6 m at 0.12% eU3O8 respectively.
  • A Samphire Mineral Resource update is planned for Q1/Q2 2027, with drilling continuing until late Q4 2026.

Alligator Energy Ltd (ASX:AGE) shares closed at $0.033 on 27 October 2026, up 10.00% for the trading session. The ASX 200 closed at 8,850.1 (+0.46%) and the energy sector index closed at 11,074.7 (+0.63%). Brent crude oil eased 0.60% to US$115.15, with diplomatic efforts around the U.S.-Israeli conflict with Iran reported to have reduced concerns about further regional escalation. Alligator Energy Ltd (ASX:AGE) is an Unley, South Australia-based company that is advancing the Samphire Uranium Project, where it is running a drilling program called the Samphire Growth Strategy.

Latest Development: Southern Extension of Blackbush

In its 7 October 2026 announcement, Alligator reported further drilling results from the southern extension of the Blackbush deposit. The company stated that recent drilling extended the interpreted mineralised trend by approximately 1 km, with mineralisation remaining open at both ends of the newly tested trend.

New mineralisation above a 250ppm eU3O8 cut-off was intersected about 1 km south of the previously southernmost known mineralised hole, extending the footprint along the Blackbush-Plumbush corridor. Two adjacent holes about 100 metres apart both returned intersections above cut-off:

The company said follow-up drilling is required to determine continuity between the intersections and to define the limits of mineralisation. It noted that equivalent uranium grades are derived from calibrated downhole natural gamma logging and are not chemical assays.

  • BBRM26-590: 5.2 m at 0.15% (1,498ppm) eU3O8 from 64.7 m, with a grade-thickness of 7,820 m.ppm.
  • BBRM26-592: 6.6 m at 0.12% (1,245ppm) eU3O8 from 62.7 m, with a grade-thickness of 8,214 m.ppm.
  • BBRM26-587: 2.2 m at 0.23% (2,277ppm) eU3O8 from 57.1 m.
  • BBRM26-580: 3.2 m at 0.13% (1,286ppm) eU3O8 from 61.0 m.

Latest Development: Samphire Growth Strategy Progress

The roughly 300-hole Growth Strategy program, announced in July 2026, is designed to test the southern extension of Blackbush, increase drill density at Plumbush and investigate the corridor between the two deposits. Access to these areas was secured through the Option to acquire the Mullaquana Crown Lease. The company said the program is just over one third complete.

Since the previous update on 28 July 2026, the company reported more than 9,000 metres of drilling across 91 holes: 38 rotary mud holes in the Blackbush extension and corridor, 50 rotary mud infill holes within the Plumbush Mineral Resource extent, and three sonic core holes that recovered physical samples for assay.

Latest Development: Plumbush Infill Drilling Results

Plumbush lies approximately 5 km south of Blackbush. The company said infill drilling aims to reduce historical spacing from about 200 m by 400 m to 100 m by 100 m, with the aim of converting the Inferred Mineral Resource to the Indicated category. Further drilling at 25 m by 25 m to 50 m by 50 m spacing is planned in the most prospective areas in future programs.

Alligator reported that results are consistent with the existing Inferred Mineral Resource, which was generated exclusively from historic data. Selected intercepts included BBRM26-534 with 2.4 m at 0.44% (4,370ppm) eU3O8 from 64.6 m and BBRM26-565 with 6.5 m at 0.11% (1,091ppm) eU3O8 from 66.7 m. The company stated that modern geophysical tools have further delineated the primary palaeochannel.

Risks and Catalysts on Watch

The announcement identifies the following items:

  • Drilling will continue until late Q4 2026, with two rigs operating on a day-shift basis.
  • A planned Samphire Mineral Resource update is scheduled for Q1/Q2 2027.
  • The company is advancing the Feasibility Study and associated mine planning and approvals workstreams.
  • Follow-up drilling is required to determine continuity and to define the limits of mineralisation south of Blackbush.
  • The release states that forward-looking statements are subject to risks, including technical, geological and metallurgical problems and changes in market prices.

Closing Summary

Alligator's 7 October 2026 update reported mineralisation roughly 1 km beyond earlier Blackbush drilling, progress on the Samphire Growth Strategy and infill results at Plumbush. The company listed continued drilling, a resource update and feasibility work as its next steps.