Green Alligator

Green Alligator project covers an area of 149 km2 to the east of the Batchelor (Korab) and Batchelor South (Compass Resources) projects. Korab’s interest in the project stems from the presence of Wildman Siltstone units of the Mt Partridge Group in the Lower Proterozoic Pine Creek Geosyncline and the Koolpin Formation within the South Alligator Group. These units are highly prospective for uranium and gold mineralisation. The project contains a number of radiometric and coincident magnetic highs.

Batchelor

The Batchelor Project is located in the Northern Territory adjacent to and near the town of Batchelor. Korab's primary interest in the area stems from the presence of uranium mineralisation and significant polymetallic mines and gold prospects associated with the Coomalie Dolomite unit of the Mt Partridge Group in the Lower Proterozoic Pine Creek Geosyncline.

Central to Korab's focus within the Batchelor area is the geological horizon adjacent to, and along the contact zone between the Whites Formation and the Coomalie Dolomite (area highlighted in red on the lower diagram to the right).

This horizon, which is the preferred host for much of the mineralisation in the greater Batchelor region, is considered to have the best potential to host significant uranium, base metals, magnesium and gold resources.

The Batchelor project covers the same stratigraphic horizons that host the nearby Rum Jungle uranium mine which operated from 1954 to 1971 and produced 3,530 tonnes of uranium oxide from 863,000 tonnes of ore grading between 0.27% and 0.43%.

The U-515 prospect, which adjoins the Rum Jungle will become the primary target for exploration following the ASX listing. In addition to that, Korab intends to drill test airborne radiometric anomalies along strike from the Rum Jungle uranium mine further to the east and south-east.

The Batchelor project area also includes the Sundance Gold Mine which was a recent, relatively high grade open-cut operation (mined grade of 10.7 g/t gold).

Batchelor also contains Winchester magnesite deposit which has an outlined JORC compliant resource of 16.6 million tonnes of magnesium oxide. This project has been progressed to feasibility study stage.

Additional analysis of magnesium oxide drill samples for gold produced gold intercepts of 12 metres at 2.98 g/t, 7 metres at 2.56 g/t and 11 metres at 6.4 g/t.

Green Alligator and Batchelor Regional Setting

Green Alligator and Batchelor Magnetic Survey

Green Alligator and Batchelor Radiometric Survey

Batchelor Project Geology