Toronto, Ontario – April 26, 2021 – Baselode Energy Corp. (TSXV: FIND, OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce that fixed-wing airborne gravity surveys (the “Surveys”) have commenced over the Hook and Catharsis high-grade uranium exploration properties (the “Properties”), Athabasca Basin area (“Athabasca”), northern Saskatchewan.
The Surveys are Falcon® Plus airborne gravity gradiometer, gravity and magnetics covering the entire Properties; Catharsis with 400 m flight line-spacing and Hook with 200 – 400 m flight line-spacing. The Company anticipates finding gravity low features along pre-defined structural corridors on both properties.which are commonly associated with hydrothermal alteration systems +/- uranium deposition.
“We’re very excited to announce that the Surveys have started. The results will help define and refine our exploration areas of interest moving forward, which are planned to be followed-up with diamond drilling in the coming months. The Surveys will provide Baselode with Property-wide information within a small timeframe. Gravity surveying is a tool that has provided a useful vector for discovering a number of uranium deposits within the Athabasca area. We anticipate the Survey results to overlap with our current target areas. The continued historic data integration for Baselode’s Properties are creating overlapping areas of geophysical and geological information which we are using to define drill targets,” said James Sykes, CEO and President of Baselode.
Immediate follow-up exploration plans include; i) high-resolution airborne magnetics and radiometrics over Catharsis and Hook, both with the intention of maximizing radiometric results, and ii) an airborne EM survey over Catharsis, prioritizing structural targets. The Company plans to follow-up the airborne surveys with ground reconnaissance, mapping and sampling in order to prioritize planned diamond drill programs (see Baselode New Release dated April 8, 2021 for more detailed information on Baselodes Spring/Summer exploration plans).
The Surveys are being conducted by CGG Canada Services Ltd. of Mississauga, Ontario, Canada, and are estimated to be complete between 3 to 4 weeks of this news release. Baselode will provide an update of the results as they become available.
Update on Shadow Project Exploration
Baselode would also like to update that positive dialogue between the Company and the the Turnor Lake Indigenous communities (Birch Narrows Dene Nation and Métis Nation Saskatchewan local #40) continues concerning exploring the Shadow project. Baselode is confident that a mutually beneficial and environmentally responsible resolution can be achieved in the near term and will keep its shareholders updated accordingly.
About Baselode Energy Corp.
Baselode currently controls 100% of approximately 171,000 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.
Baselode's Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond-drilling.
The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Projects Manager for Baselode Energy Corp., who is considered to be a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.” For further information, please contact:
Baselode Energy Corp.
FIND on the TSXV
James Sykes, President and CEO
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Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedar.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.