News Releases
- 4.03% U3O8 over 0.55 m at 126.0 m vertical depth in AK23-102 is the highest individual uranium assay result of the summer drill program
- 1.02% U3O8 over 8.05 m at 123.0 m vertical depth within 0.59% over 15.0 m at 120.7 m vertical depth in AK23-102
- Mineralization remains open along strike and at depth
- Assays pending from 6 remaining exploration drill holes
Toronto, Ontario – November 27, 2023 – Baselode Energy Corp. (TSXV: FIND, OTCQB: BSENF) (“Baselode” or the “Company”) is pleased to announce new uranium (“U3O8”) assays from 5 drill holes from the 7,512 metre diamond drilling program (the “Program”) completed within the ACKIO uranium prospect (“ACKIO”) on the Hook project (“Hook” or the “Project”). Baselode has assays from 6 exploration drill holes outside the ACKIO system to be released.
“We’ve extended Pod 7 (Figure 1) with its best intersection to date. AK23-102 returned the best overall uranium results with 1.02% U3O8 over 8.05 metres and the highest grades, 4.03% U3O8, from Pod 7 in a 50 metre step out with mineralization that is still open on strike and at depth. This intersection and previous results from this summer demonstrate the potential for additional high-grade uranium outside of what was previously thought for Pod 7. We learn with each drill hole, and this new information will be well applied for 2024’s exploration program on Hook, which will be our most extensive yet," stated James Sykes, CEO, President, and Director of Baselode.
ACKIO Drill Program Details
36 drill holes for 7,512 metres (“m”) were completed during the Program. ACKIO consisted of 30 drill holes for 6,193 m, Mirror consisted of 5 drill holes for 1,145 m, and 1 drill hole for 174 m was completed on a regional exploration target.
Drill holes AK23-102 to AK23-104 were designed to locate mineralization beyond the modeled extents of Pod 7. They were drilled 50 m north of higher concentrations of uranium previously encountered in drill holes AK23-095, AK23-096 and AK23-098. The results from hole AK23-102 suggests uranium concentrations are getting stronger as exploration continues along the Pod 7 mineralized corridor.
Drill holes AK23-114 and AK23-115 were designed as 25 m step-outs to locate high-grade uranium mineralization intersected in AK23-102. Although neither drill hole intersected similar results as AK23-102, the results from AK23-114 were more encouraging, including shallow uranium mineralization potential. Holes AK23-114 and AK23-115 have not restricted the potential for AK23-102-like mineralization from occurring in the area.
Geochemical U3O8 assay results from drill holes AK23-102 to AK23-104, and AK23-114 to AK23-115 were provided by Saskatchewan Research Council’s Geoanalytical Laboratory (“SRC”) in Saskatoon, Saskatchewan. The assay methodology includes SRCs “U3O8 Wt% Assay” analysis package where an aliquot of sample pulp is digested in a concentration of HCL:HNO3. The digested volume is then made up with deionized water for analysis by ICP-OES. Uranium assay results from the remaining six drill holes will be released after being compiled, thoroughly quality checked, and interpreted by the technical team.
ACKIO is 30 km southeast of well-established infrastructure, including an all-season road and powerline between Cameco Corp.’s (TSX: CCO) and Orano’s McArthur River mine and Key Lake uranium mill joint ventures. ACKIO is 70 km northeast of the Key Lake mill. The Program was helicopter-supported to lessen any ground-induced environmental impacts within the project area.
NOTES:
1. All reported drill hole lengths do not represent true thicknesses which have yet to be determined.
2. * “High-grade uranium mineralization” is defined by the Company as any result with >1.00% U3O8.
About Baselode Energy Corp.
Baselode controls 100% of approximately 264,172 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.
The Company discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.
Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside 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.
QP Statement
The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development 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, CEO, President and Director
306-221-8717
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release
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 ww.sedarplus.ca.
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.
