The present invention relates to improved explosive compositions of the aqueous slurry type. More particularly, the invention relates to explosive compositions containing sodium perchlorate, polysaccharide polymer of plant origin, water, and preferably, gassing and cross-linking agents and particulate sensitizers such as finely divided aluminum. These compositions have improved physical and detonation properties over prior art compositions, and in addition, they form excellent "permissible" explosive compositions, even though sodium perchlorate is present.