Baselode Extends ACKIO High-Grade Uranium Zone 100 m to the Southeast with Strongest Intersections of Elevated Radioactivity
Baselode Extends ACKIO High-Grade Uranium Zone 100 m
to the Southeast with Strongest Intersections of Elevated
Radioactivity
Highlights:
Drill holes AK22-023 and AK22-032 returned 3 of the 4 strongest elevated radioactivity intersections on ACKIO
Both drill holes have extended uranium mineralization
100 m
to the southeast, increasing the overall strike length of
continuous mineralization to greater than
350 m
. ACKIO remains open and prospective to the southeast
AK22-032: 1,730 cps over
11.1 m
at
194.55 m
(best radioactivity intersection)
AK22-023: 1,015 cps over
15.9 m
at
234.5 m
(2
nd
best radioactivity intersection)
AK22-023: 811 cps over
14.2 m
at
207.25 m
(4
th
best radioactivity intersection)
TORONTO
,
May 2, 2022
/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("
Baselode
" or the "
Company
") is
pleased to provide an update to the ongoing 20,000 metre diamond drilling program (the "
Program
") on the ACKIO high-grade
uranium discovery ("
ACKIO
"), Hook project ("
Hook
"),
Athabasca
Basin area, northern
Saskatchewan
(
see Figure 1
)
(Table 1).
"The radioactivity levels have been getting stronger and shallower as we've continued exploring to the southeast since the
beginning of the drill program. Each new
50 m
section that we drill to the southeast continues to surpass the results from the
previous section. We are excited with the results from AK22-011 (see news release dated
March 7, 2022
) but both AK22-023
and AK22-032 have delivered better intercepts. Not only is radioactivity getting stronger to the southeast but we are also
intersecting it closer to the Athabascsa sandstone unconformity (the "
unconformity
"). We've believed in the possibility of
unconformity mineralization at ACKIO since the discovery hole (AK21-001), and now the upper-most intersection from AK22-023
was less than
10 m
beneath the unconformity. Unconformity mineralization is typically higher-grade than basement-hosted
Athabasca
uranium deposits, and the depth to the unconformity from surface at ACKIO is shallow which could present
opportunities for near-surface extraction methodologies," said
James Sykes
, CEO, President and Director of Baselode.
Highlights include;
AK22-032
: 1,730 cps over
11.1 m
at
194.55 m
(best individual continuous radioactivity intersection at ACKIO to date) which
includes
3,036 cps over
1.45 m
at
196.3 m
with a maximum of 6,000 cps over
0.25 m
, and
2,821 cps over
2.0 m
at
201.35 m
with a maximum of 5,320 cps over
0.35 m
AK22-023
: 1,015 cps over
15.9 m
at
234.5 m
(2
nd
best individual continuous radioactivity intersection) which includes
3,418 cps over
1.8 m
at
247.6 m
with a maximum of 11,100 cps over
0.15 m
and 811 cps over
14.2 m
at
207.25 m
(4
th
best individual continuous radioactivity intersection) which includes
2,575 cps over
1.3 m
at
217.9 m
also including 344 cps over
1.4 m
at
98.5 m
, less than
10 m
true vertical depth beneath the unconformity, which is the
shallowest intersection of continuous radioactivity and closest to the unconformity at ACKIO
AK22-025
: 671 cps over
11.6 m
at
213.9 m
(2
nd
best individual continuous radioactivity intersection north of discovery drill
hole AK21-001) which includes
2,049 cps over
1.05 m
at
217.95 m
with a maximum of 5,500 cps over
0.1 m
The Upper zone strike length has been extended to 375 metres and the Lower zone strike length now measures 265 metres;
both zones remain open in all directions (
see Figure 1
). The Upper and Lower zones are between 75 to
125 m
and 150 to
250 m
beneath the surface, respectively
Structural interpretations suggest a series of normal listric faults perpendicular to the regional foliation have created a half-
graben subsidence basin, an uncommon structural model in the
Athabasca
Basin witnessed at Cluff Lake. Evidence supports
a late reverse fault reactivation along the normal faults. The mineralization event(s) might be related to both episodes of
faulting.
The Company is preparing a video presentation to provide more details and interpretations regarding the results and details from
this news release. The video is expected within the next 2 weeks.
Since announcing the start of the Program on
February 9, 2022
(see Company News Release), Baselode has completed 29 drill
holes (AK22-005 to AK22-033) for
8,750.95 m
(
see Figure 1
). Twelve of twenty-nine drill holes 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 (AK22-020 to AK22-033) are provided in
Table 1.
Drill holes AK22-028 to AK22-030 were drill testing the possibility of unconformity mineralization to the northwest of ACKIO.
Although each of these drill holes failed to intersect radioactivity above reportable cut-off levels (i.e., >300 cps), they were
instrumental in helping define the half-graben subsidence model that the Company believes is the prevailing structural model for
controlling uranium mineralization.
Future drill holes are planned to continue following the mineralized trends to the southeast, as well as testing for unconformity
mineralization in this direction, and testing mineralization controls with the interpreted structural model by drilling with azimuths
oriented to the east (090) instead of the drilling azimuth to date which have all been oriented to the west (270).
Samples from these reported fourteen drill holes have been submitted to the Saskatchewan Research Council's ("
SRC
")
Geoanalytical Laboratory in
Saskatoon, Saskatchewan
, for whole-rock, multi-element and U
3
O
8
analysis. Baselode will continue
to provide Program updates on a bi-monthly to monthly schedule. Uranium assay results will be released as they are received
after being compiled and thoroughly checked by the technical team.
The Program is helicopter-supported to lessen any ground-induced environmental impacts within the project area, and will allow
the Company to continue the Program during Spring thaw.
ACKIO is located 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.
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.
5.
"best radioactive intersections" were determined by multiplying the average radioactivity with the reported intersection widths for each drill hole that Baselode has reported on to date.
FIGURE 1 – Plan map of the ACKIO area
TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from drill holes AK22-20 to AK22-33
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/May2022/02/c9274.html
%SEDAR: 00044947E
For further information:
Baselode Energy Corp., FIND on the TSXV, James Sykes, CEO, President and Director,
[email protected], 306-221-8717, www.baselode.com
CO: Baselode Energy Corp.
CNW 06:00e 02-MAY-22