Baselode Details its Summer Uranium Exploration Program and Upcoming Catalysts
Baselode Details its Summer Uranium
Exploration Program and Upcoming Catalysts
TORONTO
,
July 27, 2020
/CNW/ - Baselode Energy Corp. ("
Baselode
" or the "
Company
") (TSXV:
FIND) is pleased to announce its exploration programs and upcoming catalysts for both of its 100%
owned and royalty free Shadow and Hook properties in
Saskatchewan's
Athabasca
Basin region
("
Athabasca
").
Regional Map of Baselode's Properties
About the Shadow Property
Shadow encompasses ~42,000 hectares along the basement rocks of the Virgin River Shear Zone
south of the
Athabasca
Basin. Shadow exhibits similar structural and geophysical features
recognized in other
Athabasca
high-grade uranium deposits, including a major, deep-rooted,
structural corridor along a preferred regional orientation. At the confluence of the main structure and
cross-cutting structures is where the rocks tend to break open to create dilation zones, which could
promote uranium-rich fluids to migrate to these locations (i.e., traps). Shadow's upcoming
exploration program will target these areas.
Shadow's Summer Exploration Program
In August, Baselode is planning a property-wide, heli-borne, mobile magnetotellurics ("
mobile MT
")
geophysical survey. Mobile MT acquires high-spatial resolution geoelectrical information from near-
surface to depths greater than 1 kilometer. This technology can assist in identifying structures of
interest and dilation zones that would possibly host uranium deposits. Additionally, Baselode will
commence a ground exploration program in September as a follow up to our findings from the
mobile MT survey, and to study and sample surface rocks.
"The majority of the Shadow property has never been explored. We are excited to be the first
explorers in this uncharted part of the
Athabasca
Basin area as we search for basement-hosted,
high-grade uranium deposits. The mobile MT survey will provide details of the rock types and
structures across the property. With this data, we will formulate a structural thesis which highlights
targets for follow-up, either with additional detailed geophysical surveys or with a diamond drill",
commented Mr.
James Sykes
, CEO & President of Baselode.
Map of Baselode's Shadow Property
About the Hook Property
Hook is located within the basement rocks of the Wollaston Domain—the rock unit which hosts the
highest-grade uranium deposits in the world. Hook covers ~30,000 hectares on the southeast edge
of the
Athabasca
Basin and is located 60 km east-northeast of the Key Lake mill. Hook is
particularly prospective as it was once covered with
Athabasca
sandstones which have since been
eroded. This feature provides for excellent exploration conditions for a near-surface, sub-
unconformity, high-grade uranium discovery.
Hook's Summer Exploration Plan
The Hook area has a relatively large resource of historical work assessment, which is available from
the Saskatchewan Geological Survey. Baselode is compiling this historical work and data to
determine the appropriate next steps. This will likely include property-wide airborne geophysics,
detailed ground geological studies and diamond drilling areas of interest.
Mr. Sykes continues, "The Hook property requires an updated geological and geophysical study in
order to determine the structural controls responsible for the deposition of high-grade uranium veins
that could trend onto the property (see Baselode news release dated
July 7, 2020
for details). A
number of other historical high-grade occurrences have been mentioned on the property and our
goal is to first identify them all, then understand, and prioritize in order to determine the most
probable source(s) for near-surface uranium mineralization".
Map of Baselode's Hook Property
QP Statement
The technical information contained in this news release has been reviewed and approved by
Charles Beaudry
, P.Geo and géo., Director of Baselode Energy Corp., who is a Qualified Person as
defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
About Baselode Energy
Baselode currently controls 100% rights to surface exploration on 71,821 hectares in the
Athabasca
Basin area. Baselode is a uranium exploration company with less than 29 million shares outstanding
and only 9.8 million shares in the float. Baselode is focused on discovering basement-hosted, high-
grade uranium orebodies in the
Athabasca
Basin area of northern
Saskatchewan, Canada
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) 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 filings by the
Company 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
View original content:
http://www.newswire.ca/en/releases/archive/July2020/27/c7336.html
%SEDAR: 00044947E
For further information:
Baselode Energy Corp., FIND on the TSXV, James Sykes, CEO and
President, [email protected], 306-221-8717, www.baselode.com
CO: Baselode Energy
CNW 07:00e 27-JUL-20