Baselode Mobilizes for Catharsis Uranium Project's First Drill Program
Baselode Mobilizes for Catharsis Uranium
Project's First Drill Program
Toronto, Ontario--(Newsfile Corp. - January 9, 2023) - Baselode Energy Corp. (TSXV: FIND) (OTCQB:
BSENF) ("
Baselode
" or the "
Company
") is pleased to announce that a field crew has mobilized to the
Catharsis project ("
Catharsis
" or the "
Project
") to oversee the preparations for the first drill program on
Catharsis.
"The primary drill target has overlapping geophysical anomalies characteristic of many Athabasca
uranium deposits, including a prominent gravity low feature coincident with electromagnetic conductor
breaks and bends. This target area shares interpreted geophysical and structural similarities with
Fission Uranium Corp.'s Triple R and NexGen Energy Ltd.'s Arrow high-grade uranium deposits of the
Patterson Lake corridor in the southwest Athabasca," said James Sykes, CEO, President and Director
of Baselode.
For more details on the Company's drill target, watch this video:
Catharsis: Exploration Targets Defined
The video identifies the target area is:
1
.
of similar size and structural complexity as the Patterson Lake corridor uranium deposits (i.e.,
Triple R and Arrow),
2
.
within the right geological setting that is fertile for high-grade uranium,
3
.
a 7 km long structural system with important trap mechanisms required for the precipitation of
uranium, and
4
.
has overlapping geophysical anomalies that are characteristic of many Athabasca uranium
deposits.
Planned Drill Program
Baselode anticipates the 2,000 metre drill program (the "
Program
") to begin in late January. The
Company has received all permits from the Saskatchewan Ministry of Environment to complete the
Program. Baselode has planned for 8 drill holes in 4 collar locations for a total of 2,000 metres, with
each drill hole ranging from 200 to 300 metres drill hole depth. The Program will focus on the northeast
end of the primary target area (see Figure 2). The field crew will oversee the remainder of the exploration
camp construction and clear the trails to the drill pad locations before the drill crew arrives. Baselode will
provide an update when the drill crew mobilizes to the Project.
Catharsis is 60 km south of the
Athabasca Basin margin, northern Saskatchewan (see Figure 1).
Baselode remains engaged in positive discussions with Indigenous communities and northern
stakeholders for its exploration activities on Catharsis. Baselode is committed to mutually beneficial
working relationships with Indigenous and northern communities while mitigating any exploration impacts
on traditional Indigenous lands and Rights.
Project Land Expansion
In September 2022, the Company acquired an additional 16,885 hectares of claims contiguous to
Catharsis, which were acquired through online staking. All of Catharsis' claims are 100% owned and
free of any option agreements or underlying royalties.
About Baselode Energy Corp.
Baselode controls 100% of approximately 238,850 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 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.
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 - Catharsis Project location, Athabasca Basin area, northern Saskatchewan
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6412/150635_b84155e044833b79_005full.jpg
Figure 2 - Catharsis project planned drill target area
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/6412/150635_b84155e044833b79_006full.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/150635