Baselode Expands Shadow Uranium Property Based on Geophysical Results
Baselode Expands Shadow Uranium Property
Based on Geophysical Results
TORONTO
,
Aug. 28, 2020
/CNW/ - Baselode Energy Corp. ("
Baselode
" or the "
Company
") (TSXV:
FIND) is pleased to announce that it has expanded its land position at its Shadow uranium property
("
Shadow
") in the
Athabasca
Basin area ("
Athabasca
") of
Saskatchewan
, Canada. Shadow now
covers 46,000 hectares (460 km
2
) and encompasses a larger area along the Virgin River Shear
Zone ("
VRSZ
").
The Shadow property was expanded based on the preliminary results of the Company's heliborne
mobile magnetotellurics survey ("
Mobile MT
") as announced on
August 10, 2020
. The Mobile MT
survey completed 2,600 line-kilometre covering the entirety of the Shadow property. The preliminary
results from the Mobile MT survey delineated an abundance of structures on and adjacent to the
Shadow property. Shadow's expanded property boundary now encompasses more structures along
the VRSZ, maximizing the Company's discovery potential.
Baselode expects to receive full results and interpretations from the Mobile MT survey in the coming
weeks.
Mr.
James Sykes
, CEO and President of Baselode, commented: "We are excited with the
preliminary results from our Mobile MT survey which outlined an extensive structural network which
shares geophysical similarities with other high-grade uranium deposits, such as NexGen's Arrow and
Cameco's mined-out Key Lake deposits. This additional land staking on Shadow now covers a
structural corridor of interest and further secures our foothold along the VRSZ. We are eagerly
anticipating the final results from the Mobile MT survey in order to define follow-up diamond drill
exploration targets".
Map of Shadow Property Expansion
Baselode's Shadow property exhibits favourable characteristics for potential basement-hosted
uranium mineralization. The VRSZ is one of the largest structural trends observed in
Northern
Saskatchewan
and hosts other uranium deposits, most notably Cameco's Centennial uranium
deposit.
Baselode Energy Corporate Presentation
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
Baseload is a uranium exploration company less than 29 million shares outstanding only 9.8 million
shares in the float. Baselode is focused on discovering a uranium orebody in the
Athabasca
basin in
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/August2020/28/c3339.html
%SEDAR: 00044947E
For further information:
Baselode Energy Corp., FIND on the TSXV, James Sykes, President and
CEO, [email protected], 306-221-8717, www.baselode.com
CO: Baselode Energy
CNW 07:00e 28-AUG-20