Baselode Confirms New Uranium Mineralization at Depth at ACKIO, Mineralization Remains Open AK23-88: 0.32% over 16.5 m at 184 m drill hole depth, including 0.53% over 3.0 m and 0.75% over 1.5 m (best uranium intersection beneath 150 m depth)
Baselode Confirms New Uranium
Mineralization at Depth at ACKIO,
Mineralization Remains Open
AK23-88: 0.32% over 16.5 m at 184 m drill hole depth, including 0.53% over 3.0 m and
0.75% over 1.5 m (best uranium intersection beneath 150 m depth)
Mineralization remains open at depth
Assays from 25 remaining drill holes on this program are pending
Toronto, Ontario--(Newsfile Corp. - September 20, 2023) - Baselode Energy Corp. (TSXV: FIND)
(OTCQB: BSENF) ("
Baselode
" or the "
Company
") is pleased to announce uranium ("
U
3
O
8
") assay
results from 11 drill holes (AK23-81 to AK23-91) of the 7,500 m diamond drilling program (the
"
Program
") targeting the deepest parts of the ACKIO high-grade uranium system ("
ACKIO
") on the
Hook project ("
Hook
" or the "
Project
"). The assays reported herein are all from the deepest drilling at
ACKIO. Baselode anticipates, based on previously released radioactivity results, to release even more
encouraging results from shallower intersections with pending assay results from 25 drill holes
remaining.
"The results from the deep targets in drill holes AK23-88 and AK23-82 clearly demonstrate
mineralization remains strong and open at depth as we attempt to connect the near-surface
mineralization with these new zones at depth. The assay results from hole AK23-88 rank it is a top-ten
drill hole at ACKIO. In particular, AK23-88 intersected 4 individual high-grade uranium lenses, including
0.53% over 3.0 m and 0.75% over 1.5 m, while holes AK23-84 through AK23-88 demonstrate continuity
of higher grades of mineralization at depth. ACKIO is a robust uranium system with shallow
mineralization extending deep and remains open for additional discovery potential," said James Sykes,
CEO, President and Director of Baselode.
ACKIO Drill Program Details
36 drill holes over 7,512 metres ("
m
") were completed. Within this, ACKIO consisted of 30 drill holes for
6,193 m, Mirror consisted of 5 drill holes for 1,145 m (AK23-105 to AK23-109), and 1 drill hole (HK23-
008) for 174 m was completed on a regional exploration target (
Figure 1
,
Table 1
).
Drill holes AK23-90 and AK23-91 confirmed mineralization starting at 72 m and 82 m below surface,
respectively, demonstrating shallow mineralization is prevalent in other Pods at ACKIO.
The remainder of the drill hole assay results were all intersected between 130 and 225 m beneath the
surface, demonstrating uranium mineralization is prevalent at depth at ACKIO and is not restricted to
shallow mineralization. Mineralization remains open at depth and provides a target for future drill
programs.
Four of the reported drill holes (AK23-84 to AK23-88, excluding AK23-87) all intersected high-grade
uranium mineralization (i.e., >0.50% U
3
O
8
) over a minimum width of 0.5 m core length. These results
continue to demonstrate high-grade uranium occurs at depth ACKIO.
Three drill holes (AK23-82, AK23-86, AK23-88) all intersected continuous mineralization over 10 m core
length, demonstrating thick mineralized zones at depth.
Geochemical U
3
O
8
assay results from drill holes AK23-81 to AK23-91 were provided by Saskatchewan
Research Council's Geoanalytical Laboratory ("
SRC
") in Saskatoon, Saskatchewan. The assay
methodology includes SRCs "U
3
O
8
Wt% Assay" analysis package where an aliquot of sample pulp is
digested in a concentration of HCL:HNO
3
. The digested volume is then made up with deionized water
for analysis by ICP-OES. Uranium assay results from the remaining twenty-five drill holes will be released
after being compiled and thoroughly quality checked by the technical team.
ACKIO is 30 km southeast of well-established infrastructure, including an all-season road and powerline
between Cameco Corp.'s 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 >0.50% U
3
O
8
over a minimum of 0.25 m drill hole
interval.
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, high-grade uranium deposit in September 2021.
ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 11
separate zones, with mineralization starting as shallow as 28 m beneath the surface and down to
approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120
m. ACKIO remains open to the west, north, south, and along the Athabasca sandstone unconformity to
the east and south.
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
www.baselode.com
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
www.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.
FIGURE 1 - Surface projections of modeled ACKIO uranium mineralization, drill hole collar
locations and traces for AK23-81 to AK23-91
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/181330_31f4455a24de3b9b_005full.jpg
TABLE 1 – Drill collar details, continuous composite elevated radioactivity results, and uranium assay
results (U3O8) from drill holes
AK23-81 to AK23-91
DDH
Target
Area
Location
East
North
Elevation
Az.
Dip
EOH
Radioactivity (>300 cps)
Assay Results (>0.05 wt%
U
3
O
8
)
AK23-81
ACKIO
Pod 4 -
Edge
526170
6372857
466
247
-65
195
400 cps over 0.2 m at 178.1 m
No significant Results
417 cps over 0.5 m at 179.35 m
0.06% over 0.5 m at 179.5 m
AK23-82
ACKIO
Pod 5 -
Edge
526170
6372857
466
248
-80
240
300 cps over 0.2 m at 84.1 m
No significant Results
368 cps over 9.3 m at 151.3 m
0.09% over 8.0 m at 151.0 m
1
Pod 4 -
Edge
356 cps over 7.8 m at 195.75 m
0.09% over 11.1 m at 195.5 m
319 cps over 0.25 m at 206.1 m
316 cps over 6.5 m at 215.1 m
0.16% over 5.45 m at 215.0 m
2
300 cps over 0.15 m at 229.15
m
0.07% over 0.15 m at 229.15 m
AK23-83
ACKIO
Pod 4 -
Edge
526170
6372857
466
248
-57
201
748 cps over 4.35 m at 158.65
m
0.19% over 4.5 m at 158.5 m
AK23-84
ACKIO
Pod 5 -
Edge
265
-72
240
588 cps over 18.15 m at 147.4
m
0.29% over 4.1 m at 147.4 m
3
includes
0.70% over 0.5 m at 149.0 m
0.19% over 6.5 m at 154.0 m
and
includes
0.65% over 0.5 m at 155.0 m
0.08% over 2.0 m at 162.5 m
313 cps over 2.9 m at 167.85 m
0.17% over 0.5 m at 170.0 m
Pod 4 -
Centre
329 cps over 0.55 m at 185.7 m
No significant Results
518 cps over 2.05 m at 188.6 m
0.09% over 1.0 m at 188.5 m
AK23-85
ACKIO
526170
6372857
466
265
-54
210
450 cps over 0.05 m at 161.1 m
No significant Results
Pod 4 -
Edge
797 cps over 2.5 m at 163.2 m
0.14% over 2.7 m at 163.0 m
657 cps over 5.6 m at 168.25 m
0.15% over 3.5 m at 168.5 m
includes
0.54% over 0.55 m at 168.5 m
AK23-86
ACKIO
Pod 5 -
Edge
526227
6372821
467
242
-60
210
320 cps over 0.2 m at 175.85 m
0.14% over 11.0 m at 176.0 m
320 cps over 0.2 m at 176.25 m
Pod 4 -
Centre
508 cps over 7.1 m at 179.6 m
includes
0.93% over 0.9 m at 182.6 m
4
326 cps over 1.0 m at 189.8 m
0.11% over 1.0 m at 189.5 m
AK23-87
ACKIO
Pod 4 -
Edge
526227
6372821
467
247
-54
201
No Significant Results
No significant Results
AK23-88
ACKIO
Pod 8 -
Edge
255
-65
225
300 cps over 0.35 m at 115.1 m
No significant Results
300 cps over 0.15 m at 117.0 m
No significant Results
Pod 5 -
Edge
600 cps over 4.6 m at 172.4 m
0.38% over 4.5 m at 172.5 m
5
includes
0.53% over 3.0 m at 174.0 m
6
361 cps over 0.85 m at 180.5 m
0.06% over 1.0 m at 180.5 m
Pod 4 -
Centre
759 cps over 21.8 m at 184.1
m
0.32% over 16.5 m at 184.0 m
includes
6,000 cps over 0.1 m at
186.75 m
0.69% over 1.55 m at 185.45
m
and
includes
0.73% over 0.5 m at 190.0 m
and
includes
0.75% over 1.5 m at 193.5 m
AK23-89
ACKIO
Pod 5 -
Edge
526227
6372821
467
262
-57
213
300 cps over 0.1 m at 172.05 m
No significant Results
No Significant Results
0.11% over 0.1 m at 181.35
Pod 4 -
Centre
353 cps over 0.45 m at 189.6 m
0.08% over 0.5 m at 189.5 m
AK23-90
ACKIO
Pod 3 -
Edge
526227
6372821
467
235
-70
234
305 cps over 2.7 m at 76.85 m
0.06% over 2.5 m at 77.0 m
Pod 4 -
Edge
351 cps over 4.5 m at 195.35 m
0.08% over 3.5 m at 195.0 m
656 cps over 1.15 m at 202.15
m
0.14% over 1.5 m at 202.0 m
AK23-91
ACKIO
Pod 3 -
Edge
526227
6372821
467
235
-75
205
317 cps over 2.65 m at 82.65 m
0.08% over 0.5 m at 85.0 m
11 DDH
2,374
10 DDH
10 DDH
NOTES: East and North units are metres using NAD83 datum, UTM Zone 13N
Elevation is recorded as "metres above sea level"
Az. = Azimuth, EOH = End of hole (measured in metres)
Composite radioactivity results use 300 cps cut-off and do not contain greater than 2.0 m consecutive dilution
Composite U
3
O
8
results use 0.05% U
3
O
8
cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is <0.05% U
3
O
8
)
"
includes/and includes
" are composite U
3
O
8
results using 0.50% U
3
O
8
cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is
<0.50% U
3
O
8
)
1
includes 1.25 m core loss over interval length
2
includes 0.9 m core loss over interval length
3
includes 0.6 m core loss over interval length
4
includes 0.3 m core loss over interval length
5
includes 0.9 m core loss over interval length
6
includes 0.9 m core loss over interval length
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/181330