Baselode Discovers New Uranium Anomalies East of ACKIO 4 of 6 exploration drill holes intersected elevated uranium Mineralization remains open in all directions Baselode's 2024 Drill Programs to be announced soon
Baselode Discovers New Uranium Anomalies
East of ACKIO
4 of 6 exploration drill holes intersected elevated uranium
Mineralization remains open in all directions
Baselode's 2024 Drill Programs to be announced soon
Toronto, Ontario--(Newsfile Corp. - December 13, 2023) - Baselode Energy Corp. (TSXV: FIND)
(OTCQB: BSENF) ("
Baselode
" or the "
Company
") is pleased to announce the final uranium ("
U
3
O
8
")
assays from 6 exploration drill holes outside of the ACKIO uranium prospect ("
ACKIO
") from the 7,512
metre diamond drilling program (the "
Program
") completed on the Hook project ("
Hook
" or the
"
Project
").
"We've discovered new anomalous uranium on untested ground east of ACKIO on Hook. Our geological
understanding of the Project has evolved with the discovery and ongoing delineation of ACKIO, and we
believe the broader Hook project has excellent potential for additional deposits. The results from these
preliminary exploration drill holes encourage us to further test the project-scale fertile structure that hosts
ACKIO. In addition to the Mirror and Sandstone targets, we will be drilling additional regional targets in
2024," stated James Sykes, CEO, President, and Director of Baselode.
"A lot has been learned in the two years since ACKIO was first discovered. Like other basement hosted
deposits ACKIO is structurally-controlled, but in our case our controlling structures are not conductive and
are related to normal faulting focused along lithology contacts. It is encouraging to see anomalous
uranium values at lithology contacts east of ACKIO. Additionally, we have other targets on the Hook
Project which have similar geophysical signatrues to ACKIO," said Cameron MacKay, Vice-President,
Exploration & Development of Baselode.
ACKIO Drill Program Details
36 drill holes for 7,512 metres ("
m
") were completed during the Program. ACKIO consisted of 30 drill
holes for 6,193 m, Mirror consisted of 5 drill holes for 1,145 m, and 1 drill hole for 174 m was completed
on a regional exploration target.
The Mirror target area consisted of drill holes AK23-105 to AK23-109, which were designed as a broad
fan of drill holes to test for uranium mineralization beyond the eastern limits of ACKIO along an inferred
sub-parallel structure (Figure 2). All 5 holes encountered hydrothermal alteration consisting of varying
intensities of chlorite, hematite, and clay across the entire drill hole lengths. Drill holes AK23-105 to
AK23-107 intersected elevated uranium (i.e., 190 ppm U
3
O
8
over 3.0 m at 93.5 m drill hole depth in
AK23-107) that remains open in all directions.
Drill hole AK23-110 was designed to test for unconformity uranium mineralization near the structural
contact separating basement and sandstone rocks (the Sandstone target). The drill hole intersected one
of the most anomalous sandstone columns for uranium and other pathfinder elements, suggesting the
unconformity target has significant potential for uranium mineralization. The drill hole also intersected
encouraging uranium mineralization within the basement rocks only 16 metres from the unconformity
(i.e., 490 ppm U
3
O
8
over 1.9 m at 126.5 m drill hole depth). The Sandstone target area is open to the
south and along the eastern structural contact beyond where previous drill holes returned some of the
strongest sandstone uranium and pathfinder anomalies.
Geochemical U
3
O
8
assay results from drill holes AK23-105 to AK23-110 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 were converted from weight-percent (Wt%) to
parts-per-million (ppm).
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
.
All reported drill hole lengths 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, uranium prospect in September 2021. ACKIO
measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate
uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1
and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of
mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and
east.
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
AK23-105 to AK23-110
NOTE: "Pod" defined as modelled uranium mineralization >0.1% U
3
O
8
Letters "A" and "B" are reference points for Figure 2
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/190818_ddf939d28443ea53_001full.jpg
FIGURE 2 - Cross-section displaying schematic geology and uranium intersections reported
from drill holes
AK23-105 to AK23-110
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/190818_ddf939d28443ea53_002full.jpg
TABLE 1 – Drill collar details, continuous composite elevated radioactivity results, and uranium assay
results (U3O8) from drill holes
AK23-105 to AK23-110
DDH
Target Area
East
North
Elevation
Az.
Dip
EOH
Radioactivity (>300 cps)
Assay Results (>100 ppm U
3
O
8
)
AK23-105
Mirror
526445
6373105
466
225
-60
228
700 cps over 0.25 m at 218.05 m
170 ppm over 0.5 m at 218.0 m
AK23-106
Mirror
526445
6373105
466
225
-45
287.5
No significant results
120 ppm over 0.2 m at 247.3 m
AK23-107
Mirror
526445
6373105
466
225
-80
213
350 cps over 0.1 m at 95.2 m & 350
cps over 0.15 m at 96.35 m
190 ppm over 3.0 m at 93.5 m
1
No significant results
120 ppm over 0.1 m at 210.3 m
AK23-108
Mirror
526445
6373105
466
45
-80
210
No significant results
AK23-109
Mirror
526445
6373105
466
45
-50
207
No significant results
AK23-110
Sandstone
526319
6372900
467
45
-60
237
523 cps over 0.35 m at 127.4 m
490 ppm over 1.9 m at 126.5 m
6 DDH
1,382.5
3 DDH
4 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 100 ppm U
3
O
8
cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is <100 ppm
U
3
O
8
)
1 - includes 0.35 m lost core over interval length
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/190818