The Catharsis project is 100% owned by Baselode Energy with no underlying royalties. Catharsis is on geological strike with the World’s largest and most-productive high-grade uranium district, the Wollaston and Mudjatik domains. Over 2 billion lbs U3O8 have been discovered along this trend. When searching for uranium deposits, this trend is the high-grade capital of the world.
Baselode has initiated a 2,000-metre drill program planned to begin in late January 2023. The Company has received all permits from the Saskatchewan Ministry of Environment to complete the Program. Baselode has planned for 8 drill holes in 4 collar locations for a total of 2,000 metres, with each drill hole ranging from 200 to 300 metres drill hole depth. The Program will focus on the northeast end of the primary target area (see Figure 2).
Baselode’s drill program is designed to target overlapping geophysical anomalies characteristic of many Athabasca uranium deposits, including a prominent gravity low feature coincident with electromagnetic conductor breaks and bends. This target area shares interpreted geophysical and structural similarities with Fission Uranium Corp.’s (TSX: FCU) Triple R and NexGen Energy Ltd.’s (TSX: NXE) Arrow high-grade uranium deposits of the Patterson Lake corridor in the southwest Athabasca.
For more details on the Company’s drill target, watch this video.
Catharsis is located 75 km southwest from the Key Lake uranium mill. All-season Provincial highway 914, which services the Key Lake mill and McArthur River mine, cuts through the Property. The Property encompasses ~136,000 hectares 60 km south of the Athabasca Basin edge.