Baselode Intersects 50 Metres of 0.40% Uranium Starting at 45.0 m True Vertical Depth AK22-065: 80 m of composite mineralization includes 0.40% U 3 O 8 over 50.1 m starting at 45.0 m true vertical depth which includes 0.96% U
Baselode Intersects 50 Metres of 0.40% Uranium Starting at
45.0 m True Vertical Depth
AK22-065:
80 m
of composite mineralization includes
0.40% U
3
O
8
over
50.1 m
starting at
45.0 m
true vertical depth which includes 0.96% U
3
O
8
over
13.85 m
0.50% U
3
O
8
over
7.25 m
starting at
102.2 m
true vertical depth
0.20% U
3
O
8
over
7.0 m
starting at
118.6 m
true vertical depth
AK22-068: 0.50% U
3
O
8
over
18.5 m
starting at
55.2 m
true vertical depth which includes 1.53% U
3
O
8
over
3.5 m
AK22-071: 0.14% U
3
O
8
over
25.55 m
starting at
177.1 m
true vertical depth
Four of the nine reported drill holes intersected uranium mineralization shallower than
50 m
from surface
TORONTO
,
Oct. 19, 2022
/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("
Baselode
" or the "
Company
") is
pleased to announce the geochemical assay results from drill holes AK22-065 and AK22-067 to AK22-074, including previously
unreleased assay results from
drill hole AK22-069 (0.90% U
3
O
8
over
31.0 m
, see news release dated
September 20, 2022
). The
drill holes were part of a 22,500 metre diamond drill program (the "
Program
") that was completed between February and August
on the ACKIO high-grade uranium discovery ("
ACKIO
"), Hook project,
Athabasca
Basin area (the "
Athabasca
"), northern
Saskatchewan
(see
Table 1
and
Figure 1
).
"Intersecting
50 m
of 0.40% U
3
O
8
starting at
45 m
depth from surface is a world-class achievement that continues to highlight the
potential we see at ACKIO. The results from drill holes AK22-065, AK22-068 and AK22-071 demonstrate significant widths of
uranium mineralization with exceptional grades. Drill hole -065 was drilled updip from hole -069, and downdip from holes -051 and -
052 (see
news release dated
September 12, 2022
). This is the shallowest mineralized area at ACKIO and has the widest high-
grade uranium intersections. Hole -068 successfully extends this shallow zone laterally along strike, and holes -065 and -071
establish robust and high-grade mineralization continues at depth. Our focus for the next ACKIO drill program, scheduled for late
Q1/early Q2 2023, plans toexpand known shallow and high-grade uranium occurrences. We are very excited to advance ACKIO
next year," said
James Sykes
, CEO, President and Director of Baselode.
The Company is preparing a presentation to provide more context to the results reported herein.
Drill hole highlights from this news release include;
AK22-065
:
79.7 m
of composite uranium mineralization includes
0.40% U
3
O
8
over
50.1 m
at
63.65 m
(
45.0 m
true vertical depth) includes 0.96% U
3
O
8
over
13.85 m
at
84.15 m
0.50% U
3
O
8
over
7.25 m
at
144.55 m
(
102.2 m
true vertical depth) includes 1.21% U
3
O
8
over
1.2 m
at
145.55 m
0.20% U
3
O
8
over
7.0 m
at
167.7 m
(
118.6 m
true vertical depth) includes 1.69% U
3
O
8
over
0.5 m
at
173.2 m
AK22-067
: 0.08% U
3
O
8
over
6.5 m
at
68.5 m
(
62.1 m
true vertical depth)
AK22-068
: 0.50% U
3
O
8
over
18.5 m
at
78.0 m
(
55.2 m
true vertical depth) includes 1.53% U
3
O
8
over
3.5 m
at
79.0 m
AK22-069
: 0.90% U
3
O
8
over
31.0 m
at
90.5 m
(
69.3 m
true vertical depth) includes 1.86% U
3
O
8
over
12.5 m
at
104.0 m
(previously reported)
AK22-070
: 0.21% U
3
O
8
over
3.5 m
at
116.0 m
(
95.0 m
true vertical depth)
AK22-071
: 0.14% U
3
O
8
over
25.55 m
at
204.45 m
(
177.1 m
true vertical depth) includes 0.96% U
3
O
8
over
1.0 m
at
205.0 m
AK22-074
: 0.30% U
3
O
8
over
4.5 m
at
205.0 m
(
177.5 m
true vertical depth) includes 0.84% U
3
O
8
over
0.5 m
at
208.0 m
Baselode started the Program on
February 9, 2022
(see Company News Release) and completed the Program on
August 2, 2022
,
with 78 drill holes (AK22-005 to AK22-080, and HK22-007), including one abandoned drill hole (AK22-048), for a total of
22,485.85
m
(
see Figure 1
). Forty-four of seventy-six drill holes at ACKIO have intersected elevated radioactivity. A complete list of drill hole
collar information, hand-held scintillometer radioactivity composite measurements, and U
3
O
8
composite assay results for the nine
drill holes reported in this news release (AK22-065, and AK22-067 to AK22-074) are provided in
Table 1
.
Geochemical U
3
O
8
assay results from drill holes AK22-065 and AK22-067 to AK22-074 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 from the remaining twenty drill holes will be released
as they are received from SRC and after being compiled and thoroughly quality checked by the Company.
Comparison of the downhole gamma probe radioactivity results confirm uranium mineralization is continuous where core loss is
present in the assay results data as noted in
Table 1
.
NOTES:
1. All reported drill hole lengths do not represent true thicknesses which have yet to be determined.
2.* "
High-grade uranium mineralization
" is defined by the Company as any result with >0.50% U
3
O
8
over a minimum of 0.25 m drill hole interval
FIGURE 1 – Plan map of the ACKIO mineralized surface expressions
TABLE 1 – Drill collar details, composite radioactivity and U
3
O
8
assay results, drill holes AK22-065 & AK22-067 to AK22-074
About ACKIO
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
28 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.
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 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."
Baselode Energy Corp.
FIND on the TSXV
www.baselode.com
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/October2022/19/c4576.html
%SEDAR: 00044947E
For further information:
James Sykes, CEO, President and Director, [email protected], 306-221-8717
CO: Baselode Energy Corp.
CNW 06:00e 19-OCT-22