Alligator Energy (ASX:AGE) commenced a 300-hole drilling program at its Mullaquana Crown Lease, initiating the first exploration activity at the newly secured property, according to a Wednesday Australian bourse filing.
The program aims to grow the Samphire Project's 30 million pounds of uranium oxide resource base through drilling at Blackbush extensions, Plumbush resource upgrades, and testing corridor continuity, per the filing.
The company said the drilling results are expected to support the next mineral resource update, anticipated in the first quarter of 2027, and increase the mining inventory of the ongoing bankable feasibility study, the filing added.
The company's shares fell nearly 4% in recent Wednesday trade.