Baselode Intersects Three New Holes with Elevated Radioactivity, Including the Highest Levels of Radioactivity To Date on ACKIO High- Grade Uranium Discovery
Baselode Intersects Three New Holes with
Elevated Radioactivity, Including the Highest
Levels of Radioactivity To Date on ACKIO High-
Grade Uranium Discovery
TORONTO
,
March 7, 2022
/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF)
("
Baselode
" or the "
Company
") is pleased to provide an update of the on-going 10,000 metre diamond
drilling program (the "
Program
") on the ACKIO high-grade uranium discovery ("
ACKIO
"), Hook project
("
Hook
"),
Athabasca
Basin area, northern
Saskatchewan
.
Highlights include;
25,000 counts-per-second
("
cps
") from drill hole AK22-11 at
217.1 m
depth (
see Figure 1
)
represents the highest indvidual radioactivity reading on the project to date
New sub-parallel "Lower" zone of uranium mineralization discovered with two intervals of continuous
elevated radioacitivity measuring
1,583 cps over
6.5 m
at
201.0 m
and
1,286 cps over
11.9 m
at
215.75 m
from drill hole AK22-11
Uranium mineralization extends for over
150 m
along strike and remains open along both strike
directions (
see Figure 2)
Higher levels of radioactivity discovered in two drill holes to the north (AK22-08 and AK22-09) and one
drill hole to the south (AK22-11) of the discovery drill fence which includes drill hole AK21-01 (0.13
wt% U
3
O
8
over
15.5 m
, see
Table 1 and Table 2
for comparisons)
Faulting, alteration, and above background radioactivity discovered in
Athabasca
sandstone east of
ACKIO mineralization in drill hole AK22-05 is prospective for unconformity mineralization (
see Figure 3
)
"We're encouraged with the results from the winter drill holes to date, especially AK22-08, AK22-09, and
AK22-11. The former two drill holes provide continuity to the northwest with the "Upper" mineralized zone
that we discovered last year, and the latter drill hole has intersected a new "Lower" mineralized zone that
exhibits the highest levels of radioactivity that we've seen on ACKIO to date. The Lower zone in AK22-11
is associated with a calc-silicate unit where we intersected 0.11 wt% U
3
O
8
over
2.0 m
in drill hole AK21-
03 last year. Mineralization and alteration are getting much broader and stronger as we continue exploring
to the southeast. Our updated structural model suggests the ACKIO trend continues for another
1,000 m
to the southeast, and that fold repetition of lithological units which host known mineralization should occur
east of current drill limits. Drill hole AK22-05 intersected above average radioactivity associated with
massive clay-hematite alteration as part of a basement fault wedge into the
Athabasca
sandstone,
suggesting the eastern area has potential for unconformity mineralization. For now, we will continue our
aggressive drill campaign with 50 metre step-out holes to the southeast and northwest, exploring for more
high-grade uranium mineralization along the ACKIO trends. Targeting the eastern corridor for unconformity
mineralization potential will become a priority in the weeks to come," said
James Sykes
, CEO, President
and Director of Baselode.
The Company is preparing a video presentation to provide more details and interpretations regarding the
results from this news release. The video is expected in the coming days.
Since announcing the start of the Program on
February 9, 2022
(see Company News Release), Baselode
has completed 7 drill holes (AK22-05 to AK22-11) for
2,185.6 m
(
see Figure 2
). Three drill holes (AK22-
08, AK22-09 and AK22-11) have intersected continuous elevated radioactivity.
Figure 3
is a schematic
representation of the interpreted geology along the discovery drill fence which includes drill holes AK21-01
to AK22-06. A complete list of drill hole collar details and hand-held scintillometer radioactivity composite
measurements are in
Table 1
.
Table 2
is provided for comparison of radioactivity and geochemical assay
results from the 2021 drill holes with those from Table 1.
Samples from these 7 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 release drill core radioactivity results as a prelude to uranium assay results 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.
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.
FIGURE 1 – 25,000 cps measured from AK22-11 at
217.1 m
depth
FIGURE 2 – Plan map of the ACKIO area including 2021 and current 2022 drill holes
FIGURE 3 – Geology schematic cross-section of drill holes AK21-01 to AK22-06 (view looking north)
TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from drill
holes AK22-05 to AK22-11
DDH
Target Area
East
North
Elevation
Azimuth
Dip
EOH
Radioactivity (>300 cps)
Assay Results (>0.5 wt% U
3
O
8
)
AK22-05
ACKIO
526,345
6,372,955
467
270
-75
258
No significant results
Assay results pending
AK22-06
ACKIO
526,345
6,372,955
467
270
-45
285
No significant results
Assay results pending
AK22-07
ACKIO
526,245
6,373,005
468
270
-60
310.6
No significant results
Assay results pending
AK22-08
ACKIO
526,245
6,373,005
468
270
-45
378
600 cps over 0.3 m at 170.6 m
Assay results pending
911 cps over 6.4 m at 175.6 m
Assay results pending
677 cps over 1.65 m at 241.1 m
Assay results pending
850 cps over 0.25 m at 266.5 m
Assay results pending
390 cps over 0.1 m at 345.3 m
Assay results pending
AK22-09
ACKIO
526,245
6,373,005
468
270
-52
297
1,052 cps over 10.05 m at 136.8 m
Assay results pending
345 cps over 0.5 m at 180.4 m
Assay results pending
400 cps over 0.2 m at 264.5 m
Assay results pending
AK22-10
ACKIO
526,245
6,372,855
468
270
-70
281
No significant results
Assay results pending
AK22-11
ACKIO
526,245
6,372,855
468
270
-45
376
330 cps over 0.2 m at 174.25 m
Assay results pending
1,583 cps over 6.5 m at 201.0 m
Assay results pending
572 cps over 3.5 m at 210.1 m
Assay results pending
1,286 cps over 11.9 m at 215.75 m
Assay results pending
includes >5,000 cps
9,844 cps over 0.65 m at 216.75 m
Assay results pending
includes >20,000 cps
25,000 cps over 0.1 m at 217.1 m
Assay results pending
7 DDH
2,185.6 m
3 DDH
0 DDH
NOTES: East and North units are metres using NAD83 datum, UTM Zone 13N
Elevation is recorded as "metres above sea level"
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
TABLE 2 – Drill collar details, continuous composite elevated radioactivity results and uranium
(U
3
O
8
) assay results from drill holes AK21-01 to AK21-04
DDH
Target Area
East
North
Elevation
Azimuth
Dip
EOH
Radioactivity (>300 cps)*
Assay Results (>0.5 wt% U
3
O
8
)
AK21-01**
ACKIO
526,245
6,372,955
467
270
-60
471
333 cps over 3.3 m at 127.1 m
0.05 wt% U
3
O
8
over 2.0 m at 126.8 m
642 cps over 16.2 m at 133.8 m
0.13 wt% U
3
O
8
over 15.5 m at 134.3 m
350 cps over 0.1 m at 250.7 m
No significant results
356 cps over 1.8 m at 283.6 m
0.06 wt% U
3
O
8
over 1.2 m at 284.6 m
403 cps over 2.75 m at 366.7 m
0.05 wt% U
3
O
8
over 1.0 m at 366.7 m
includes
0.06 wt% U
3
O
8
over 0.4 m at 368.8 m
AK21-02
ACKIO
526,245
6,372,955
467
270
-85
42
N/A - Abandoned
N/A - Abandoned
AK21-02A
ACKIO
526,245
6,372,955
467
270
-85
357
No significant results
No significant results
AK21-03***
ACKIO
526,245
6,372,955
467
270
-45
360
994 cps over 5.55 m at 128.5 m
0.24 wt% U
3
O
8
over 5.5 m at 128.6 m
550 cps over 0.15 m at 136.9 m
No significant results
876 cps over 3.75 m at 246.4 m
0.11 wt% U
3
O
8
over 2.0 m at 248.1 m
429 cps over 2.5 m at 266.05 m
0.06 wt% U
3
O
8
over 0.5 m at 267.4 m
738 cps over 1.5 m at 272.3 m
0.05 wt% U
3
O
8
over 0.5 m at 273.4 m
750 cps over 1.9 m at 276.7 m
0.06 wt% U
3
O
8
over 1.0 m at 277.4 m
491 cps over 0.4 m at 302.4 m
No significant results
AK21-04***
ACKIO
526,139
6,372,955
467
270
-60
381
474 cps over 9.95 m at 95.8 m
0.17 wt% U
3
O
8
over 1.0 m at 95.5 m
includes
0.24 wt% U
3
O
8
over 2.0 m at 99.0 m
includes
0.05 wt% U
3
O
8
over 0.5 m at 103.5 m
includes
0.07 wt% U
3
O
8
over 0.5 m at 105.5 m
396 cps over 1.2 m at 108.8 m
No significant results
350 cps over 0.35 m at 165.4 m
No significant results
502 cps over 0.5 m at 168.1 m
0.08 wt% U
3
O
8
over 1.0 m at 168.0 m
771 cps over 0.7 m at 254.3 m
0.07 wt% U
3
O
8
over 0.5 m at 253.8 m
450 cps over 0.2 m at 270.7 m
No significant results
5 DDH
1,611 m
3 DDH
3 DDH
NOTES: East and North units are metres using NAD83 datum, UTM Zone 13N
Elevation is recorded as "metres above sea level"
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
* 2021 drill hole radioactivity results were all reported in a news release dated October 13, 2021
** 2021 drill hole assay results were originally reported in a news release dated December 3, 2021
*** 2021 drill hole assay results were originally reported in a news release dated January 6, 2022
SOURCE
Baselode Energy Corp.
View original content:
http://www.newswire.ca/en/releases/archive/March2022/07/c7088.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 07-MAR-22