Alligator Energy Ltd (ASX:AGE) has commenced a five-grid time-domain electromagnetic (EM) survey at the Piedmont nickel-cobalt project in the Alpe Laghetto district of northern Italy.
The primary objective of the EM program is to determine the presence of conductors in the vicinity of historic mines and extensive known surface mineralization occurrences in the Company’s exploration holdings.
This program will also enhance the geological understanding of the Piedmont project through the collection and presentation of high-quality data that will allow for targeted follow-up drill testing, where appropriate.
In addition, the ground EM survey began with an experienced Canadian geophysics contractor testing conductors in the Alpe Laghetto area.
Markets welcomed the news, with shares trading as low as $0.055, up 10% from the previous close
Promotion of geological understanding
Greg Hall, CEO of Alligator, said: “Due to COVID and access restrictions, it has taken us approximately two years to get back to the ground at our Piedmont project and these are no longer an impediment.
“Our Italian geological consultants have worked with the Turin-based Mines Authority and the local community to ensure our geophysical work is understood, and previous provincial-level engagement enabled our drilling permits to be approved in early 2020, as well as COVID travel and Access restrictions met.
“We look forward to these ground EM results which advance our geological understanding in an area that contains 17 showings grading 0.5% nickel or better with very little modern exploration and not one drill hole.
“Italy and Europe continue to support exploration for needed critical minerals.”
Alligator has previously had interest in investing in the project from several potential strategic partners, two of whom remain engaged.
The Company owns 100% of the tenements and has an option to acquire 100% of the JV’s tenements for the project.
In addition, Alligator has previously approved drill permits for the Alpe Laghetto area, allowing for follow-up drilling on identified targets if warranted.
The Alpe Laghetto area has historically been mined for nickel-cobalt mineralization, with nickel, cobalt and copper also present at other property locations.
Of note, AGE has previously completed detailed soil surveys and sampling that indicate excellent nickel and copper grades in the exposed mineralized areas and old mines.
The ground EM survey is expected to be completed in four to five weeks.