Baselode Intersects Best Drill Hole To Date With 0.90% U3O8 Over 31.0 Metres Starting at 69.3 m True Vertical Depth The reported intersection includes 1.86% U 3 O 8 over 12.5 m at 79.7 m true vertical depth which includes the Project's highest individual assay of 5.61% U
Baselode Intersects Best Drill Hole To Date
With 0.90% U3O8 Over 31.0 Metres Starting at
69.3 m True Vertical Depth
The reported intersection includes 1.86% U
3
O
8
over
12.5 m
at
79.7 m
true vertical depth
which includes the Project's highest individual assay of 5.61% U
3
O
8
TORONTO
,
Sept. 20, 2022
/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF)
("
Baselode
" or the "
Company
") is pleased to announce the geochemical assay results from drill
hole AK22-069 of 0.90% U
3
O
8
over
31.0 m
starting at
69.3 m
true vertical depth which includes
1.86% U
3
O
8
over
12.5 m
at
79.7 m
true vertical depth. AK22-069 is the latest and best hole to date
from the now-complete 22,500 metre diamond drill program (the "
Program
") on the ACKIO high-
grade uranium discovery ("
ACKIO
"), Hook project,
Athabasca
Basin area (the "
Athabasca
"),
northern
Saskatchewan
(see
Table 1
and
Figure 1
).
"Drill hole AK22-069 has delivered the best overall uranium assay results we've received on ACKIO
to date, including the highest individual assay result returning 5.61% U
3
O
8
over
0.5 m
. Hole -069
was drilled down-dip of holes AK22-051 (0.50% U
3
O
8
over
28.9 m
) and AK22-052 (0.58% U
3
O
8
over
27.6 m
) which both intersected uranium mineralization at the overburden-basement contact, i.e.,
as shallow as possible at ACKIO. The reported intercept from hole -069 has exceeded the results
from both of those drill holes and confirms near-surface, high-grade mineralization is continuous and
more concentrated at depth, and still within
100 m
of surface. These results demonstrate the
exciting potential at ACKIO for the possible development of a near-surface, high-grade uranium open
pit mining scenario. We look forward to continuing drilling this zone with our next ACKIO drill program
in 2023," said
James Sykes
, CEO, President and Director of Baselode.
Geochemical U
3
O
8
assay results from drill hole AK22-069 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 eighteen drill holes will be
released as they are received from SRC and after being compiled and thoroughly quality checked by
the technical team.
The downhole gamma probe results confirm mineralization is continuous where core loss is present
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
Click Here for Figure 1 Plan Map of Ackio and Table 1 Drill Collar Details
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."
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.
Baselode Energy Corp.
FIND on the TSXV
www.baselode.com
SOURCE
Baselode Energy Corp.
View original content:
http://www.newswire.ca/en/releases/archive/September2022/20/c8831.html
%SEDAR: 00044947E
For further information:
James Sykes, CEO, President and Director, [email protected], 306-
221-8717
CO: Baselode Energy Corp.
CNW 06:00e 20-SEP-22