Baselode Continues to Intersect Shallow Uranium Mineralization; Reports Ten New Drill Holes with Elevated Radioactivity Elevated radioactivity intersected in 10 new drill holes at ACKIO, including; 1,687 cps over 26.9 m
Baselode Continues to Intersect Shallow
Uranium Mineralization; Reports Ten New Drill
Holes with Elevated Radioactivity
Elevated radioactivity intersected in 10 new drill holes at ACKIO, including;
1,687 cps over
26.9 m
at
90.9 m
in hole AK22-069
875 cps over
27.7 m
at
106.2 m
in hole AK22-066
Nine drill holes intersected elevated radioactivity results within
100 m
true vertical depth
from surface
Regional exploration drill target intersected pentlandite (nickel) within massive sulphides
in hole HK22-007
A total of 22,277.7 metres were completed in 76 drill holes at ACKIO high-grade uranium
discovery
TORONTO
,
Aug. 2, 2022
/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF)
("
Baselode
" or the "
Company
") is pleased to announce the final sixteen drill hole results from the
now-complete 2022 diamond drill program (the "
Program
") on the ACKIO high-grade uranium
discovery ("
ACKIO
"), Hook project ("
Hook
"),
Athabasca
Basin area (the "
Basin
"), northern
Saskatchewan
(see
Figure 1
and
Table 1
).
"Our success at ACKIO this year has exceeded our expectations. We've grown ACKIO very quickly
with over 22,000 metres having been drilled since February. The final drill holes of the Program
continued to intersect near-surface mineralization, expanding the footprint of known mineralization at
shallow depths. The discovery of uranium mineralization just 25 metres below surface puts ACKIO
into a rare category with near-surface open pit mined
Athabasca
uranium deposits. Our objective
now is to incorporate all the data we have collected this year, including recently flown airborne
geophysical surveys, to refine our geological models, to determine mineralized vectors at ACKIO,
and to assess the required drill hole density for completing a mineral resource estimate for ACKIO.
Once complete we plan to return to ACKIO with an aggressive drill campaign to discover more
uranium mineralization," said
James Sykes
, CEO, President and Director of Baselode.
Drill hole highlights from this news release include;
AK22-066
: 875 cps over
27.7 m
at
106.2 m
which includes
2,222 cps
over 2.9
m
at 126.55
m
and a maximum of 7,900
cps
over 0.1
m
AK22-068
: 1,104 cps over
9.55 m
at
78.25 m
which includes
2,292 cps
over 2.15
m
at 79.65
m
and a maximum of 8,000
cps
over 0.15
m
AK22-069
: 1,687 cps over
26.9 m
at
90.9 m
which includes
2,614 cps
over 0.45
m
at 96.0
m
and 3,100
cps
over 11.3
m
at 104.85
m
with two
maximums of 9,000
cps
with each over 0.15
m
AK22-075
: multiple intercepts including,
928 cps
over 10.0
m
at 107.35
m
which includes 4,588
cps
over 0.6
m
at 115.75
m
and a
maximum of 7,200
cps
over 0.2
m
1,128 cps
over 7.1
m
at 131.6
m
which includes 2,086
cps
over 0.95
m
at 131.8
m
and a
maximum of 5,800
cps
over 0.2
m
, and 5,800
cps
over 0.25
m
at 135.85
m
982 cps
over 9.95
m
at 142.05
m
which includes 3,426
cps
over 1.2
m
at 145.35
m
and a
maximum of 8,000
cps
over 0.15
m
869 cps
over 11.65
m
at 155.3
m
which includes 4,400
cps
over 0.2
m
at 160.15
m
, 3,774
cps
over 0.3
m
at 161.45
m
, and 2,959
cps
over 1.0
m
at 165.8
m
with a maximum of 5,000
cps
over 0.1
m
HK22-007
:
7.0 m
of variably disseminated (<1%), veined (1 to 15%), and massive (30 to 60%)
sulphides including visible pentlandite, a nickel-bearing sulphide, between
25.45 m
and
45.6 m
drill hole depth hosted within a massive quartz vein.
Since announcing the start of the Program on
February 9, 2022
(see Company News Release),
Baselode has completed 78 drill holes (AK22-005 to AK22-080, and HK22-007), including one
abandoned drill hole, for
22,485.85 m
(see
Figure 1
). Forty-three of seventy-six drill holes at ACKIO
have intersected continuously elevated radioactivity. A complete list of drill hole collar information and
hand-held scintillometer radioactivity composite measurements for the drill holes reported in this news
release (AK22-066 to AK22-080, and HK22-007) are provided in
Table 1.
Samples from these reported sixteen drill holes have been submitted to the Saskatchewan Research
Council's Geoanalytical Laboratory in
Saskatoon, Saskatchewan
, for whole-rock, multi-element and
U
3
O
8
analysis. Uranium and other assay results will be released as they are received after being
compiled and thoroughly checked by the technical team.
ACKIO measures greater than
375 m
along strike, greater than
150 m
wide, comprised of at least 5
separate zones, with mineralization starting as shallow as
25 m
beneath the surface and down to
approximately
300 m
depth beneath the surface with the bulk of mineralization occurring in the upper
200 m
. ACKIO remains open to the west, south, and along the
Athabasca
sandstone unconformity
to the east and south.
ACKIO is 30 km southeast of well-established infrastructure, including an all-season road and
powerline between Cameco Corp.'s (TSX: CCO) 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.
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 for 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 125 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 depths and lengths do not represent true thicknesses which have yet to be determined.
About HK22-007's Massive Sulphide Intersection
On the Program's final hole and in-line with drill demobilization, Baselode tested a distinct geophysical
target for sulphide mineralization 9 kilometres southeast of ACKIO on the Hook project. Given the
visual observations of massive sulphides, including pentlandite, management will review and refine
this new shallow nickel-sulphide target area for follow-up in a subsequent drill program. Assays are
pending and will be released accordingly.
FIGURE 1 – Plan map of the ACKIO mineralized surface expressions
TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from drill
About Baselode Energy Corp.
Baselode controls 100% of approximately 227,000 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., 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."
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.
SOURCE
Baselode Energy Corp.
View original content:
http://www.newswire.ca/en/releases/archive/August2022/02/c0223.html
%SEDAR: 00044947E
For further information:
Baselode Energy Corp., FIND on the TSXV, [email protected],
www.baselode.com; James Sykes, CEO, President and Director, [email protected], 306-221-
8717
CO: Baselode Energy Corp.
CNW 06:00e 02-AUG-22