Baselode Intersects Wide Zone of Radioactivity 36 Metres from Surface 1,019 cps* over 35.75 m starting at 36 m beneath surface in AK23-095 Five drill holes with greater than 20 metres of elevated radioactivity 15 drill holes (3,214 metres) completed to date
Baselode Intersects Wide Zone of
Radioactivity 36 Metres from Surface
1,019 cps* over 35.75 m starting at 36 m beneath surface in AK23-095
Five drill holes with greater than 20 metres of elevated radioactivity
15 drill holes (3,214 metres) completed to date
Toronto, Ontario--(Newsfile Corp. - July 13, 2023) - Baselode Energy Corp. (TSXV: FIND) (OTCQB:
BSENF) ("
Baselode
" or the "
Company
") is pleased to provide an update of the diamond drilling
program (the "
Program
") on the ACKIO high-grade uranium zone ("
ACKIO
") as part of the larger
Program for the Hook project ("
Hook
" or the "
Project
") (see
Figure 1
and
Table 1
).
"AK23-095 is our 4
th
best drill hole by total radioactivity at ACKIO. We are confident
this drill hole will
help increase our understanding of Pods 1 and 7 in this area. The initial holes of this program focussed
mostly on infill and definition drilling of Pods 4 and 5. AK23-095 was the first hole designed for
delineation and expansion drilling of Pods 1, 2 and 7. Our best results to date have come from Pods 1
and 2, while Pod 7 is poorly defined and open to the north. AK23-095 delivered an exceptionally thick
intersection measuring 28.45 metres of elevated radioactivity in Pod 7, indicating Pod 7 was not drill
confined to the west and does remain open (see
Figure 2
). We expect this drill program to continue to
deliver exceptional results as we grow ACKIO," said James Sykes, CEO, President and Director of
Baselode.
ACKIO Drill Program Update
A total of 15 drill holes (AK23-081 to AK23-095) in 3,214 metres ("
m
") have been completed at ACKIO
(Figure 1, Table 1). The Program continues to drill. Drill holes AK23-082, AK23-084, AK23-088, AK23-
092, and AK23-095 all had over 20 m of composite radioactivity, indicating mineralization is broad and
occurs in multiple lenses. In particular, the lower intersection within AK23-095 has greatly expanded
mineralization modeled previously in Pod 7. Drill holes AK23-090, AK23-091, and AK23-095 all had
mineralization starting shallower than 100 m from surface, with mineralization in AK23-095 starting
immediately at the overburden base, confirming the presence of near-surface mineralization. High levels
of radioactivity (>5,000 cps*) were reported in drill holes AK23-088, AK23-092, and AK23-095
confirming multiple lenses of higher concentrations of uranium mineralization are present at ACKIO.
ACKIO/Hook 2023 Summer Drill Program Details
10,000 metres of diamond drilling are planned and budgeted for the ACKIO/Hook 2023 summer
program. The breakdown includes 7,500 metres allocated to delineation and expansion diamond drilling
on ACKIO, and 2,500 metres partitioned in three to five areas for reconnaissance exploration to
discover the next uranium zone on Hook. The ACKIO delineation and expansion part of the Program will
first focus on the shallowest and/or the highest-grade uranium intersections defined in last years
successful 22,500 metre drill campaign. Drill collars have been planned to optimize the allocated metres
by intersecting multiple zones of mineralization from the same setups, and by limiting drill holes to
specific stopping depths. The drill program is anticipated to be complete by October. The company
remains fully-funded to complete the program.
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 of 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 100 cps.
3
.
"continuous composite elevated radioactivity" means the sum of drill core length with greater than or equal to 300 cps with a maximum 2.0 m
of consecutive drill hole length measuring less than 300 cps as dilution.
4
.
All reported drill hole intervals are drill core lengths and do not represent true thicknesses which have yet to be determined.
About Baselode Energy Corp.
Baselode controls 100% of approximately 264,172 hectares for exploration in the Athabasca Basin
area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying
royalties.
The Company discovered the ACKIO near-surface, high-grade uranium deposit in September 2021.
ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 11
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 120
m. ACKIO remains open to the west, south, and along the Athabasca sandstone unconformity to the east
and south.
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."
For further information, please contact:
Baselode Energy Corp.
FIND on the TSXV
www.baselode.com
James Sykes, CEO, President and Director
306-221-8717
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 - Surface projections of modeled ACKIO uranium mineralization
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/173388_91a642c73405b914_005full.jpg
FIGURE 2 - Cross-Section with Drill Hole AK23-095
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/173388_91a642c73405b914_006full.jpg
TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from drill
holes AK23-081 to AK23-095
DDH
Target
Area
Location
East
North
Elevation
Az.
Dip
EOH
Radioactivity (>300 cps)
Assay Results (>0.05 wt%
U
3
O
8
)
AK23-81
ACKIO
Pod 4 - Edge
526170
6372857
466
247
-65
195
400 cps over 0.2 m at 178.1
m
Assay results pending
417 cps over 0.5 m at
179.35 m
Assay results pending
AK23-82
ACKIO
Pod 5 - Edge
526170
6372857
466
248
-80
240
300 cps over 0.2 m at 84.1
m
Assay results pending
368 cps over 9.3 m at 151.3
m
1
Assay results pending
Pod 4 - Edge
356 cps over 7.8 m at
195.75 m
Assay results pending
319 cps over 0.25 m at
206.1 m
Assay results pending
316 cps over 6.5 m at 215.1
m
2
Assay results pending
300 cps over 0.15 m at
229.15 m
Assay results pending
AK23-83
ACKIO
Pod 4 - Edge
526170
6372857
466
248
-57
201
748 cps over 4.35 m at
158.65 m
Assay results pending
AK23-84
ACKIO
Pod 5 - Edge
526170
6372857
466
265
-72
240
588 cps over 18.15 m at
147.4 m
Assay results pending
313 cps over 2.9 m at
167.85 m
Assay results pending
Pod 4 - Centre
329 cps over 0.55 m at
185.7 m
Assay results pending
518 cps over 2.05 m at
188.6 m
Assay results pending
AK23-85
ACKIO
526170
6372857
466
265
-54
210
450 cps over 0.05 m at
161.1 m
Assay results pending
Pod 4 - Edge
797 cps over 2.5 m at 163.2
m
Assay results pending
657 cps over 5.6 m at
168.25 m
Assay results pending
AK23-86
ACKIO
Pod 5 - Edge
526227
6372821
467
242
-60
210
320 cps over 0.2 m at
175.85 m
Assay results pending
320 cps over 0.2 m at
176.25 m
Assay results pending
Pod 4 - Centre
508 cps over 7.1 m at 179.6
m
Assay results pending
326 cps over 1.0 m at 189.8
m
Assay results pending
AK23-87
ACKIO
Pod 4 - Edge
526227
6372821
467
247
-54
201
No Significant Results
Assay results pending
AK23-88
ACKIO
Pod 8 - Edge
526227
6372821
467
255
-65
225
300 cps over 0.35 m at
115.1 m
Assay results pending
300 cps over 0.15 m at
117.0 m
Assay results pending
Pod 5 - Edge
600 cps over 4.6 m at 172.4
m
3
Assay results pending
361 cps over 0.85 m at
180.5 m
Assay results pending
Pod 4 - Centre
759 cps over 21.8 m at
184.1 m
Assay results pending
includes
6,000 cps over 0.1 m at
186.75 m
Assay results pending
AK23-89
ACKIO
Pod 5 - Edge
526227
6372821
467
262
-57
213
300 cps over 0.1 m at
172.05 m
Assay results pending
Pod 4 - Centre
353 cps over 0.45 m at
189.6 m
Assay results pending
AK23-90
ACKIO
Pod 3 - Edge
526227
6372821
467
235
-70
234
305 cps over 2.7 m at 76.85
m
Assay results pending
Pod 4 - Edge
351 cps over 4.5 m at
195.35 m
Assay results pending
656 cps over 1.15 m at
202.15 m
Assay results pending
AK23-91
ACKIO
Pod 3 - Edge
526227
6372821
467
235
-75
205
317 cps over 2.65 m at
82.65 m
Assay results pending
AK23-92
ACKIO
Pod 5 - Edge
526173
6372895
465
264
-65
225
704 cps over 13.85 m at
166.95 m
Assay results pending
643 cps over 0.9 m at
183.25 m
Assay results pending
350 cps over 0.1 m at
187.75 m
Assay results pending
Pod 4 - centre
646 cps over 16.1 m at
190.9 m
Assay results pending
includes
6,705 cps over 0.15 m at
191.25 m
Assay results pending
and
includes
5,000 cps over 0.15 m at
195.85 m
Assay results pending
300 cps over 0.15 m at
209.35 m
Assay results pending
AK23-93
ACKIO
Pod 4 - Centre
526173
6372895
465
270
-76
213
300 cps over 0.4 m at 177.5
m
Assay results pending
AK23-94
ACKIO
Pod 5 - Centre
526173
6372895
465
277
-76
222
575 cps over 0.2 m at
166.25 m
Assay results pending
AK23-95
ACKIO
Pod 1 - Centre
526119
6372952
464
271
-51
180
1,019 cps over 35.75 m at
46.75 m
Assay results pending
includes
6,300 cps over 0.15 m at
59.2 m
Assay results pending
and
includes
5,500 cps over 0.15 m at
71.7 m
Assay results pending
and
includes
5,290 cps over 0.6 m at
72.15 m
Assay results pending
and
includes
6,100 cps over 0.2 m at
73.15 m
Assay results pending
310 cps over 0.25 m at 90.0
m
Assay results pending
315 cps over 0.15 m at
117.2 m
Assay results pending
375 cps over 0.1 m at 123.3
m
Assay results pending
300 cps over 0.1 m at 126.7
m
Assay results pending
450 cps over 0.1 m at
127.05 m
Assay results pending
350 cps over 0.1 m at 127.4
m
Assay results pending
300 cps over 0.1 m at
127.85 m
Assay results pending
315 cps over 0.1 m at 128.2
m
Assay results pending
350 cps over 0.1 m at
129.65 m
Assay results pending
Pod 7 - Centre
467 cps over 28.45 m at
131.3 m
Assay results pending
includes
6,250 cps over 0.10 m at
139.05 m
Assay results pending
378 cps over 1.05 m at
163.85 m
Assay results pending
15 DDH
3,214
14 DDH
0 DDH
NOTES: East and North units are metres using NAD83 datum, UTM Zone 13N
Elevation is recorded as "metres above sea level"
Az. = Azimuth, 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
1 - includes 1.25 m lost core over interval length
2 - includes 1.3 m lost core over interval length
3 - includes 0.9 m lost core over interval length
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/173388