Baselode Provides 2023 Exploration Plans for Athabasca Basin Uranium Projects
Baselode Provides 2023 Exploration Plans for
Athabasca Basin Uranium Projects
TORONTO
,
Oct. 27, 2022
/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF)
("
Baselode
" or the "
Company
") is pleased to announce exploration plans for the year 2023 on the
ACKIO/Hook, Catharsis and Shadow projects, in the
Athabasca
Basin area (the "
Athabasca
"),
northern
Saskatchewan
.
Baselode's drilling and exploration plans include:
ACKIO Definition and Expansion (April to October)
20,000 m
of diamond drilling with an estimated 87 drill holes expanding near-surface, high-grade
uranium zones.
ACKIO Exploration (May to July)
5,000 m
of diamond drilling with an estimated 16 drill holes exploring structural interpretations
for more uranium mineralization within a 1 km radius of ACKIO (
Figure 1
).
Catharsis (January to March)
2,500 m
of diamond drilling with an estimated 12 drill holes covering four target areas defined
with coincident airborne geophysical anomalies and areas of interest identified during ground
reconnaissance exploration in 2021 (
Figure 3
).
Hook Exploration (July to September)
5,000 m
of diamond drilling with an estimated 16 drill holes exploring four target areas defined
with coincident airborne geophysical anomalies (
Figure 2
).
Shadow (June to August)
2,000 km airborne geophysical survey.
"2023 is going to be a busy year for Baselode. We have over 30,000 metres of drilling planned over
10 months of the year. Expanding ACKIO's high-grade mineralized zones is our top priority, where
we'll focus on delineating additional near-surface mineralization. Our understanding of the structural
system hosting ACKIO suggests the area within a 1 km radius is prospective for other zones of
mineralization. Therefore, exploration for new near-surface mineralization also remains a high
priority. Accordingly, we are planning additional
2,500 m
and
5,000 m
reconnaissance drill programs
for both Catharsis and Hook projects, respectively, with targets generated using the same technical
evaluation that supported the ACKIO discovery. Similarly, these targets will be testing for the same
style of near-surface, high-grade uranium mineralization as our ACKIO discovery, an evolving
Athabasca
2.0 exploration model proof of concept," said
James Sykes
, CEO and President of
Baselode.
Cameron MacKay
, Vice-President, Exploration & Development comments "We discovered uranium
mineralization at ACKIO where north-south structures have developed within a region where the
dominant fabric is northeast trending. The north-south fabric at ACKIO coincides with a prominent
gravity low anomaly. We have multiple targets that mirror these coincident geophysical observations
on both the ACKIO-GMZ Trend and the Tabbernor Trend. Our Catharsis targets are along the
southern extension of the highly uranium-fertile Key Lake Trend. We've interpreted structural flexures
along this Trend that could be conducive to produce dilation which in turn could draw in uranium-
bearing fluids during structural re-activation. These target areas have overlapping gravity, magnetic
and EM anomalies making them highly attractive exploration targets."
The planned drill programs for both ACKIO and Hook are permitted with the Saskatchewan Ministry
of Environment (the "
Ministry
") until
December 31, 2023
. A permit application for the Catharsis drill
program has been submitted to the Ministry.
The Company will be preparing a video to follow-up this news release with more detailed information
regarding the target areas and drill plan for ACKIO. Project updates will be provided as new
milestones are achieved.
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."
For further information, please contact:
Baselode Energy Corp.
FIND on the TSXV
www.baselode.com
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.
SOURCE
Baselode Energy Corp.
View original content:
http://www.newswire.ca/en/releases/archive/October2022/27/c1095.html
%SEDAR: 00044947E
For further information:
James Sykes, CEO, President and Director, [email protected], 306-
221-8717
CO: Baselode Energy Corp.
CNW 06:00e 27-OCT-22