The Project is the largest granted tenement package in the Alligator River Uranium Province, one of the top three uranium districts in the world.
In March 2018 Vimy acquired the Alligator River Project in Arnhem Land, Northern Territory from Cameco Australia Pty Ltd.
The tenements are on Aboriginal land vested in the Arnhem Land Aboriginal Land Trust and managed by the Northern Land Council on behalf of the Traditional Landowners. Deeds of Agreement exist for all granted tenure covering exploration activity along with commercial terms and conditions for future mining activity, which ensures that the environment will be protected and that Traditional Landowners and local Aboriginal Communities will benefit from Royalties and jobs.
The Alligator River Project comprises three separate tenement packages covering a total area of 3,865km2 including 1,600km2 of granted exploration licences.
King River-Wellington Range project (1,675km2)
The King River-Wellington Range project has 1,600km2 of granted tenure and is the subject of a Joint Venture (JV) with Rio Tinto Exploration Pty Limited (Rio Tinto), a wholly owned subsidiary of Rio Tinto Ltd, with current JV interests of Vimy: 75% / Rio Tinto:25%. The JV ground hosts the Angularli deposit, as well as a large number of highly prospective targets, at different stages of exploration.
In March 2018 Vimy also announced the Maiden Mineral Resource at the Angularli Deposit, the most advanced of the many prospects in the King River-Wellington Range project.
Alligator River Project Mineral Resource, March 2018 1, 2, 3
|Deposit / Resource||Classification||Cut-off Grade|
1 t = metric dry tonnes; appropriate rounding has been applied and rounding errors may occur.
2 Using chemical U3O8 composites from drill core
3 Vimy: 75% / Rio Tinto: 25%
The information in the table above is extracted from ASX announcement entitled “Maiden Mineral Resource at Angularli Deposit, Alligator River Project" released on 20 March 2018. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
Algodo-Beatrice project (500km2)
The Algodo-Beatrice project covers a group of exploration applications to the east of the Ranger and Jabiluka deposits, under moderate sandstone cover.
Mt Gilruth project (1,690km2)
The Mt Gilruth project consists of a group of tenement applications to the southeast of the Ranger and Jabiluka deposits.
About the Alligator River Uranium Province
The Alligator River Uranium Province is a world-class uranium province. The deposits in the Province are unconformity style that is unique to both the Alligator River and the Athabasca Basin in Canada. These deposits are noted for their large size and exceptional grades including some of the largest deposits in the world.
The Alligator River uranium province has a proven exploration track record with over 750Mlbs U3O8 in mineral resources (current and mined) and has produced a total of 312Mlbs of uranium over the past 65 years.
During Australia’s Three Mine Policy (1984-1996) however all exploration licences in the area were held in moratorium which resulted in limited exploration.
The diagram below shows the huge deposits that were discovered in the Athabasca region during the same time and highlights the potential for similar discoveries at the Alligator River Project.