News Releases
Toronto, Ontario – August 9, 2021 – Baselode Energy Corp. (TSXV: FIND, OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce plans to begin drilling on its 100% owned Hook Uranium Project (“Hook”) anticipated to start within two weeks.
1. Diamond drilling permits have been received from Saskatchewan’s Ministry of Environment
2. A high-resolution airborne radiometric and magnetics geophysical survey (the “Survey”) has identified high-priority drill targets
3. A field crew has mobilized to site to follow-up surface radiometric anomalies of interest and to prepare for the drill program
4. First Nations and northern stakeholders continue to be engaged, informed and are providing various services in support of this drill program.
“We are excited to announce Baselode’s first drill program on our Hook Project. With the Hook Survey completed we have identified several overlapping radiometric, magnetic and gravity features which suggest the presence of fluid flow and structural traps required for uranium mineralization that will be targeted with the drill program. In particular, the Survey highlighted a high-priority target area consisting of a cluster of strong radiometric uranium anomalies occurring over a 2 kilometre strike length (see Target area 1 in Figure 1). We have mobilized a field crew to identify the geological provenance of the radiometric anomalies in eight areas of interest in order to prioritize our drill targets. We will be releasing an informative video shortly to provide investors with more details regarding the exciting drill targets that exist at Hook,” said James Sykes, CEO and President of Baselode.
Planned Drill Program
Baselode is anticipating a total of 10 to 15 drill holes for a total of 2,500 metres with each drill hole ranging from 150 to 250 metres drill hole depth. The drill program is planned with helicopter support to achieve broader target area coverage and to lessen any ground-induced environmental impacts within the project area. A field crew has been mobilized to Hook to start preparing drill pad locations and building a core shack. The drill and helicopter contractors, accommodations, and support staff have been organized and are ready to begin the drill program.
Airborne Radiometric Survey
Baselode engaged the same airborne company that delineated Fission Uranium Corp.’s PLS high-grade uranium boulder field which led to the discovery of the Triple R uranium deposit. The Hook Survey consisted of 12,115 line kilometres with 50 m flight line-spacing and low-level flying to maximize near surface radiometric and magnetic results. The radiometric results have highlighted eight anomalous areas requiring ground truthing, including a high-priority cluster of strong uranium anomalies over a 2 kilometre strike-length on parallel magnetic trends within 500 metres of each other. The field crew will be investigating the eight anomalous radiometric areas.
Baselode remains engaged in positive discussions with Indigenous communities and northern stakeholders for all of its exploration activities and projects. Baselode is committed to mutually beneficial working relationships with Indigenous and northern communities while mitigating any exploration impacts on traditional Indigenous lands and Rights.
Figure 1: Radiometric anomalies on Hook project background is digital elevation model (DEM))
About Baselode Energy Corp.
Baselode currently controls 100% of approximately 207,000 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.
QP Statement
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
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 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.
