Baselode Annouces a New Uranium Discovery: Drills 16.2 Metres of Elevated Radioactivity in First Drill Program on the Hook Uranium Project
Baselode Annouces a New Uranium
Discovery: Drills 16.2 Metres of Elevated
Radioactivity in First Drill Program on the
Hook Uranium Project
TORONTO
,
Sept. 29, 2021
/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF)
("
Baselode
" or the "
Company
") is pleased to announce that it has intersected a wide zone of
elevated radioactivity in the first drill program on its Hook Uranium project ("
Hook
"),
Athabasca
Basin area, northern
Saskatchewan
(see Figure 1).
Drill hole HK21-07 was the first drill hole in the Ackio target area on Hook. This discovery drill hole
intersected
16.2 metres
("
m
") of continuous elevated radioactivity (i.e., >300 cps*) starting at
133.8
m
drill hole depth (~115 m vertical depth from surface) within a massive structurally-controlled
hydrothermal alteration envelope that exceeds
250 m
thickness (see Figure 2).
"This is an exciting discovery for Baselode. We believe this discovery is part of a new and large
uranium system within the
Athabasca
Basin area. These results are a testimony to our
Athabasca
2.0 thesis and we remain eager to deliver more exciting results from the Ackio target area as drilling
progresses," said
James Sykes
, CEO and President of Baselode.
The radioactive interval averages 642 cps and includes multiple intersections of >1,000 cps;
an average of 3,900 cps over
0.5 m
at
138.8 m
, which also includes a
0.1 m
interval of
12,500 cps,
an average of 2,000 cps over
0.9 m
at
142.0 m
, and
2,200 cps over
0.2 m
at
147.2 m
.
"The widespread basement alteration we've intersected in HK21-07 reflects a large hydrothermal
fluid system that could be fertile for high-grade uranium mineralization which is demonstrated with
radioactivity >10,000 cps in the Ackio area. We're also excited to have intersected
Athabasca
sandstones outside the previously known basin margin. This provides us with exploration targets for
discovering unconformity-style mineralization just 50 metres below surface at Ackio," said
Cameron
MacKay
, Baselode's Projects Manager.
Expansion of the Current Hook Drill Program
Due to the encouraging results at Ackio, Baselode will continue the current drill program on its Ackio
target for as long as weather conditions permit. The Company is expanding the drill program from
2,500 to a minimum of
3,500 m
with drill holes now ranging from 200 to 500 metres drill hole depth.
The drill program is operated with helicopter support to lessen any ground-induced environmental
impacts within the project area. Updates from the expanded drill program will be released in the
coming weeks.
Open Webinar Presentation –
September 30, 2021
James Sykes
will be presenting a live webinar on
Thursday, September 30, 2021
at
2 PM ET
, as
part of Red Cloud Securities Inc. Webinar Series. Mr. Sykes will provide more detailed results and
ideas from the Ackio discovery area and for the Hook project.
CLICK HERE TO REGISTER FOR THE WEBINAR
Ackio Target Area
Drill hole HK21-07 intersected a sequence of
Athabasca
sandstone immediately beneath glacial
overburden at
35.0 m
drill hole depth. The sandstone shows signs of classic
Athabasca
sandstone
uranium deposit alteration styles including pervasive bleaching, secondary hematite and other
oxidized-alteration overprints, as well as hematite alteration along faults. The unconformity ("
UC
")
between sandstone and basement rocks was intersected at
59.7 m
drill hole depth. The basement
rocks are strongly altered from the UC down to ~300 m drill hole depth. Basement alteration
consists of predominant and pervasive chlorite alteration with clay alteration and hematite, which
resemble alteration envelopes proximal to known
Athabasca
basement-hosted uranium deposits.
The drill hole was stopped at
471 m
drill hole depth. See Table 1 for drill collar information.
Drill hole HK21-07 is located approximately
450 m
southeast from the recent discovery drill hole
(GEM-004) by 92 Energy (ASX: 92E) on their adjacent Gemini project. Baselode believes that
these two discovery drill holes are part of the same structural system, suggesting a large and
widespread fertile system for uranium mineralization that remains open for drilling in all directions.
The Ackio-GEM area is located 30 km southeast of well-established infrastructure including an all-
season road and powerline that run between Cameco Corp.'s (TSX: CCO) and Orano's joint venture
McArthur River
mine and Key Lake Uranium mill. The Ackio-GEM area is 70 km northeast of the
Key Lake mill.
Beckett Target Area
Seven drill holes (HK21-01 throuh HK21-06A, including abandoned drill hole HK21-06) were
completed in the Beckett target area. A total of
2,069 m
were completed in the seven drill holes
down to depths between
206 m
and
480 m
. Drill holes HK21-01, HK21-03, and HK21-04 all
intersected elevated radioactivity within quartzo-feldspathic pegmatite rock types, with some
radioactivity in drill hole HK21-01 directly associated with fractures coated with yellow secondary
uranium-bearing minerals between 126.9 and
139.5 m
drill hole depths (~110 to
120 m
vertical depth
from surface). Drill holes HK21-01 through HK21-04 also intersected structural intervals up to
10 m
wide with significant hematite, chlorite and clay alteration styles similar to Ackio drill hole HK21-07.
See Table 1 for drill collar information.
"The yellow uranium-bearing minerals are a hydrous form of uranium, suggesting that the necessary
conditions to mobilize uranium was present locally. In addition, we've intersected hematite-rich fault
zones with remobilized clay-altered fractures, similar to those observed at Ackio, which could be
distal parts to structures that may have carried and deposited uranium nearby. We remain excited
with the exploration potential that exists at the Beckett target area," said
James Sykes
.
NOTES:
1.
cps* = "counts-per-second", as measured with a handheld RS-125 Gamma-Ray Spectrometer/Scintillometer. The reader is cautioned that Baselode uses scintillometer
readings as a preliminary indication of the presence of radioactive materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly to
quantify or qualify uranium concentrations of the rock samples measured.
2.
The Company considers all RS-125 readings greater than 300 cps to be considered elevated radioactivity, with background radioactivity measuring between 50 to 100 cps.
3.
"continuous elevated radioactivity" means drill core length with no greater than 2.0 m of consecutive drill hole length measuring less than 300 cps.
4.
All reported drill hole intervals are drill core lengths and do not represent true thicknesses which have yet to be determined.
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."
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.
FIGURE 1: Hook project overview; Ackio (HK21-07) and Beckett (HK21-01 to HK21-06) target
areas, including 92 Energy's Gemini (GEM-004) discovery drill hole (pink circle)
FIGURE 1: Hook project overview; Ackio (HK21-07) and Beckett (HK21-01 to HK21-06) target
areas, including 92 Energy’s Gemini (GEM-004) discovery drill hole (pink circle) (CNW
Group/Baselode Energy Corp.)
FIGURE 2: Elevated radioactivity and alteration intersected between
133.8 m
and
150.0 m
in drill
hole HK21-07
FIGURE 2: Elevated radioactivity and alteration intersected between 133.8 m and 150.0 m in drill
hole HK21-07 (CNW Group/Baselode Energy Corp.)
TABLE 1: Diamond drill hole (DDH) collar information
DDH
Target Area
Easting
Northing
Elevation
Azimuth
Dip
EOH
Radioactivity (>300 cps)
HK21-01
Beckett
532,270
6,355,205
481
135
-60
339
410 cps over 6.3 m at 126.9 m
310 cps over 0.25 m at 137.1 m
329 cps over 11.23 m at 139.5 m
460 cps over 0.3 m at 218.0 m
HK21-02
Beckett
532,270
6,355,205
481
135
-45
318
No significant results
HK21-03
Beckett
532,445
6,355,065
491
135
-60
480
333 cps over 46.3 m at 247.7 m
500 cps over 0.1 m at 406.9 m
HK21-04
Beckett
532,620
6,354,940
479
135
-60
270
321 cps over 13.3 m at 205.6 m
HK21-05
Beckett
532,900
6,355,400
478
135
-60
363
No significant results
HK21-06
Beckett
534,121
6,355,758
470
115
-60
93
N/A - Abandoned
HK21-06A
Beckett
534,121
6,355,758
470
115
-60
206
No significant results
HK21-07
Ackio
526,245
6,372,955
467
270
-60
471
333 cps over 3.3 m at 127.1 m
642 cps over 16.2 m at 133.8 m
8 DDH
2,540
4 DDH
NOTES: East and North units are metres using NAD83 datum, UTM Zone 13N
Elevation is recorded as "metres above sea level"
EOH = End of hole, measured in metres
Radioactivity intervals do not contain greater than 2.0 m of consecutive dilution (i.e., <300 cps)
SOURCE
Baselode Energy Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/September2021/29/c8075.html
%SEDAR: 00044947E
For further information:
Baselode Energy Corp., FIND on the TSXV, James Sykes, President and
CEO, [email protected], 306-221-8717, www.baselode.com
CO: Baselode Energy Corp.
CNW 06:00e 29-SEP-21