Baselode Confirms Second Shallow Zone of Uranium Mineralization Starting 32 Metres From Surface Within ACKIO Two drill holes (AK23-112 and AK23-113) intersected elevated levels of radioactivity in Pod 7 at overburden-basement contact within 32 and 37 metres from surface,
Baselode Confirms Second Shallow Zone of
Uranium Mineralization Starting 32 Metres
From Surface Within ACKIO
Two drill holes (AK23-112 and AK23-113) intersected elevated levels of radioactivity in
Pod 7 at overburden-basement contact within 32 and 37 metres from surface,
respectively
Drill holes in "Mirror" exploration target intersected elevated radioactivity within massive
alteration system
Assays from this Drill Program are expected shortly
Toronto, Ontario--(Newsfile Corp. - August 28, 2023) - Baselode Energy Corp. (TSXV: FIND) (OTCQB:
BSENF) ("
Baselode
" or the "
Company
") is pleased to announce the completion of the diamond drilling
program (the "
Program
") on the ACKIO high-grade uranium zone ("
ACKIO
") on the Hook project
("
Hook
" or the "
Project
") (see
Figures 1 and 2
,
Table 1
).
"Several of our holes intercepted elevated levels of radioactivity, which will expand our mineralized
footprint. We also achieved several milestones, including extending mineralization along strike and at
depth, discovering more shallow mineralization including Pod 7 starting at the overburden-basement
rocks contact similar to Pod 1, defining thicker zones of mineralization within previously modeled areas,
and identifying a new trend of mineralization at the Mirror target which displays intense alteration over a
300 m width," said James Sykes, CEO, President and Director of Baselode.
ACKIO Drill Program Update
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 (
Figures 1 and 2
,
Table 1
).
Drill holes AK23-112 to AK23-113 successfully identified mineralization at the overburden-basement
contact in Pod 7, confirming a second zone of mineralization (after Pod 1) with mineralization as-
shallow-as-possible in the ACKIO system.
Drill holes AK23-114 and AK23-115 tested the northern strike extent of mineralization in Pod 7. Results
were strongest in AK23-114 suggesting Pod 7 could trend shallower than previously modelled and
requires follow-up in the future.
Drill hole AK23-116 confirmed numerous discrete intervals of elevated radioactivity in the area between
Pods 1 and 7. These intervals are not part of any currently modeled uranium Pods (Pods 1 through 11)
and could help increase the overall volume of mineralization identified at ACKIO.
Seven of the reported drill holes (AK23-107, AK23-111 to AK23-116) all had mineralization starting
shallower than 100 m from surface, with three drill holes intersecting mineraliztion shallower than 50 m
from surface (AK23-111 to AK23-113).
High levels of radioactivity (>5,000 cps*) were reported in drill holes AK23-112 and AK23-116. The
results from AK23-112 confirms strong uranium mineralization can be projected to the overburden-
basement contact in Pod 7, and AK23-116 supports the potential for additional high-grade uranium
mineralization occurring between Pods 1 and 7.
Drill holes AK23-105 to AK23-109 were all drilled in the Mirror target area.
Two of the reported drill holes
(AK23-105 and AK23-107) intersected elevated radioactivity. All 5 drill holes defined an intense
alteration corridor that measures over 300 m wide. Mirror remains open for exploration in all directions.
Drill hole AK23-110 targeted the thickest part of Athabasca sandstones with favourable pathfinder
geochemistry defined from previous drilling (i.e,. AK22-005). Surprisingly, the drill hole did not intersect
sandstone and went directly into basement rocks immediately following the overburden, suggesting a
large structural offset within the sandstones. Many Athabasca sandstone uranium deposits are
associated with large-scale faults. The sandstone target area remains open for exploration potential but
requires further modelling to better define the structural controls of the area.
Exploration drill hole HK23-008 targeted geophysical anomalies along the ACKIO trend over 1 kilometer
to the southeast. The drill hole intersected granite with no alteration or elevated radioactivity.
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 composite elevated radioactivity" means the sum of drill core length with greater than or equal to 300 cps with a maximum 2.0 m
of consecutive drill hole length measuring less than 300 cps as dilution.
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 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.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 - Surface projections of modeled ACKIO uranium mineralization
To view an enhanced version of this graphic, please visit:
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FIGURE 2 - Location of exploration drill hole HK23-008 with respect to ACKIO
To view an enhanced version of this graphic, please visit:
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TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from drill holes
AK23-105 to AK23-116, HK23-008
DDH
Target
Area
Location
East
North
Elevation
Az.
Dip
EOH
Radioactivity
(>300 cps)
Assay Results
(>0.05 wt% U
3
O
8
)
AK23-105
Mirror
N/A
526445
6373105
466
225
-60
228
700 cps over 0.25 m at
218.05 m
Assay results pending
AK23-106
Mirror
N/A
526445
6373105
466
225
-45
287.5
No significant results
AK23-107
Mirror
N/A
526445
6373105
466
225
-80
213
350 cps over 0.1 m at
95.2 m
Assay results pending
350 cps over 0.15 m at
96.35 m
Assay results pending
AK23-108
Mirror
N/A
526445
6373105
466
45
-80
210
No significant results
AK23-109
Mirror
N/A
526445
6373105
466
45
-50
207
No significant results
AK23-110
Sandstone
N/A
526319
6372900
467
45
-60
237
523 cps over 0.35 m at
127.4 m
Assay results pending
AK23-111
ACKIO
Pod 7 -
Overburden
contact
525671
6427532
463
270
-75
211.3
590 cps over 5.65 m at
39.8 m
1
Assay results pending
303 cps over 2.45 m at
58.1 m
Assay results pending
302 cps over 2.45 m at
65.05 m
Assay results pending
395 cps over 3.1 m at
77.55 m
Assay results pending
400 cps over 0.1 m at
93.1 m
Assay results pending
AK23-112
ACKIO
Pod 7 -
Overburden
contact
525671
6427532
463
270
-60
129
1,235 cps over 2.7 m at
36.9 m
Assay results pending
400 cps over 0.05 m at
42.0 m
Assay results pending
350 cps over 0.15 m at
45.0 m
Assay results pending
1,654 cps over 7.75 m at
49.65 m
Assay results pending
includes
6,086 cps over 1.2 m at
56.05 m
Assay results pending
347 cps over 8.2 m at
59.65 m
Assay results pending
319 cps over 1.35 m at
75.75 m
Assay results pending
AK23-113
ACKIO
Pod 7 -
Overburden
contact
525671
6427532
463
270
-45
90
400 cps over 0.15 m at
52.0 m
Assay results pending
AK23-114
ACKIO
Pod 7 -
Extension
526060
6373079
463
270
-65
243
350 cps over 0.3 m at
62.15 m
Assay results pending
501 cps over 0.45 m at
69.25 m
Assay results pending
350 cps over 0.05 m at
70.7 m
Assay results pending
350 cps over 0.1 m at
72.6 m
Assay results pending
640 cps over 0.85 m at
74.15 m
Assay results pending
530 cps over 0.35 m at
85.6 m
Assay results pending
500 cps over 0.1 m at
113.35 m
Assay results pending
717 cps over 1.7 m at
225.8 m
Assay results pending
AK23-115
ACKIO
Pod 7 -
Extension
526060
6373079
463
270
-70
270
300 cps over 0.05 m at
101.0 m
Assay results pending
400 cps over 0.2 m at
251.8 m
Assay results pending
330 cps over 0.1 m at
252.15 m
Assay results pending
350 cps over 0.15 m at
252.65 m
Assay results pending
376 cps over 0.4 m at
253.8 m
Assay results pending
AK23-116
ACKIO
Between
Pods 1 & 7
526058
6373005
463
270
-60
138
852 cps over 1.9 m at
88.25 m
Assay results pending
includes
5,500 cps over 0.05 m
at 89.25 m
Assay results pending
362 cps over 2.2 m at
107.2 m
Assay results pending
4,700 cps over 0.15 m at
112.55 m
Assay results pending
1,238 cps over 0.5 m at
115.75 m
Assay results pending
663 cps over 0.2 m at
122.4 m
Assay results pending
HK23-008
Regional
N/A
527396
6372018
469
270
-60
174
No significant results
13 DDH
2,637.8
9 DDH
0 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
"
includes
" are composite radioactivity results using 5,000 cps cut-off and do not contain greater than 2.0 m consecutive dilution
1 - includes 1.25 m lost core over interval length
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