Baselode Intersects Widest Zone of Elevated Radioactivity To Date, Updates on ACKIO High-Grade Uranium Drill Program
Baselode Intersects Widest Zone of Elevated
Radioactivity To Date, Updates on ACKIO
High-Grade Uranium Drill Program
TORONTO
,
April 4, 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
.
"ACKIO continues to grow in size and impress us with results. Both AK22-18 and AK22-19
demonstrate the robust size of the uranium-fertile fluid pathways that have penetrated the ACKIO
area. We are convinced that our drill holes to date have intersected the distal damage zone along
the edges of a major mineralized structure and that a larger deposition point exists along the trend.
Our recent structural analysis of ACKIO is very compelling as it confirms numerous features
previously identified with our geophysical surveys which could lead to the discovery of zones with
higher levels of radioactivity and point us to targets for unconformity mineralization. We are excited
to continue drilling the ACKIO mineralized trend and to test other prospective targets on the Hook
Project," said
James Sykes
, CEO, President and Director of Baselode.
Highlights include;
Drill hole AK22-18 has intersected the broadest zone of continuously elevated radioactivity
summed over the entire drill hole length on the project to date, including a highlight of 2,130 cps
over
2.6 m
at
164.5 m
depth and a maximum of 4,550 cps over
0.2 m
at
166.5 m
depth (see
Table 1)
Drill holes AK22-13, AK22-14 and AK22-19 intersected highlights of;
1,317 cps over
2.35 m
at
166.5 m
depth,
1,152 cps over
2.9 m
at
157.2 m
depth,
1,037 cps over
2.05 m
at
219.95 m
including a maximum of 8,000 cps over
0.1 m
at
221.6
m
and 1,160 cps over
4.55 m
at
236.8 m
including a maximum of 9,200 cps over
0.1 m
at
239.9 m
, respectively
The Upper zone strike length has been extended to over 200 metres and the Lower zone strike
length now measures greater than 150 metres; both zones remain open in all directions (
see Figure 1
). The Upper and Lower zones are between 90 to
125 m
and 150 to
200 m
beneath the surface, respectively
Structural analysis has confirmed the presence of northeast-southwest oriented faults cross-
cutting the northwest-southeast local fabric which could control 1) higher levels of radioactivity
observed in drill holes AK21-01 and AK22-11 (see previous news releases), and 2) offsets of
the current northwest-southeast mineralization extents
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 10 days.
Since announcing the start of the Program on
February 9, 2022
(see Company News Release),
Baselode has completed 15 drill holes (AK22-05 to AK22-19) for
4,754.6 m
(see Figure 1). Eight
drill holes have intersected continuously elevated radioactivity. A complete list of drill hole collars
and hand-held scintillometer radioactivity composite measurements from this news release are
provided in Table 1.
Samples from these eight 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.
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 – Plan map of the ACKIO area
TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from
drill holes AK22-12 to AK22-19
DDH
Target Area
East
North
Elevation
Azimuth
Dip
EOH
Radioactivity (>300 cps)
Assay Results (>0.5 wt% U
3
O
8
)
AK22-12
ACKIO
526,245
6,372,855
460
270
-90
237
No significant results
Assay results pending
AK22-13
ACKIO
526,190
6,372,805
460
270
-45
306
712 cps over 8.1 m at 166.1 m
Assay results pending
AK22-14
ACKIO
526,190
6,372,805
460
270
-60
350
1,152 cps over 2.9 m at 157.2 m
Assay results pending
AK22-15
ACKIO
526,160
6,373,058
460
270
-60
381
600 cps over 0.5 m at 134.0 m
Assay results pending
615 cps over 7.9 m at 178.3 m
Assay results pending
AK22-16
ACKIO
526,160
6,373,058
460
270
-45
280
No significant results
Assay results pending
AK22-17
ACKIO
526,160
6,373,058
460
270
-90
304
No significant results
Assay results pending
AK22-18
ACKIO
526,243
6,372,902
460
270
-60
372
530 cps over 2.65 m at 112.4 m
Assay results pending
563 cps over 0.2 m at 139.85 m
Assay results pending
2,130 cps over 2.6 m at 164.5 m
Assay results pending
673 cps over 4.3 m at 171.3 m
Assay results pending
350 cps over 0.1 m at 192.3 m
Assay results pending
539 cps over 7.0 m at 200.0 m
Assay results pending
425 cps over 0.3 m at 209.3 m
Assay results pending
350 cps over 0.1 m at 211.3 m
Assay results pending
579 cps over 5.9 m at 218.75 m
Assay results pending
460 cps over 3.25 m at 227.15 m
Assay results pending
850 cps over 0.6 m at 236.6 m
Assay results pending
977 cps over 1.25 m at 277.55 m
Assay results pending
AK22-19
ACKIO
526,243
6,372,902
460
270
-45
339
375 cps over 5.25 m at 209.4 m
Assay results pending
2,200 cps over 0.15 m at 216.65 m
Assay results pending
1,037 cps over 2.05 m at 219.95 m
Assay results pending
699 cps over 15.1 m at 226.25 m
Assay results pending
493 cps over 0.8 m at 244.05 m
Assay results pending
8 DDH
2,569.0
5 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
SOURCE
Baselode Energy Corp.
View original content:
http://www.newswire.ca/en/releases/archive/April2022/04/c8139.html
%SEDAR: 00044947E
For further information:
please contact: 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 04-APR-22