Baselode Reports High-Grade Uranium Within 15.5 Metre Mineralized Zone at ACKIO Discovery
Baselode Reports High-Grade Uranium Within
15.5 Metre Mineralized Zone at ACKIO
Discovery
TORONTO
,
Dec. 6, 2021
/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF)
("
Baselode
" or the "
Company
") is pleased to report Uranium assay results from the first diamond
drill hole, AK21-01, of the recent ACKIO Uranium discovery ("
ACKIO
") on the Hook project ("
Hook
"),
Athabasca
Basin area, northern
Saskatchewan
.
Highlights include:
High-grade* Uranium confirmed; 1.29 wt% U
3
O
8
over
0.5 m
at
138.8 m
and 0.66 wt%
U
3
O
8
over
0.5 m
at
142.3 m
Primary mineralized zone measuring
15.5 m
of 0.13 wt% U
3
O
8
starting at
134.3 m
Multiple uranium intersections occurring over
200 m
of drill hole length.
"We are very excited with the confirmation of high-grade Uranium at ACKIO. The ACKIO discovery
is beginning to take shape; with high-grade Uranium intersected near-surface, multiple and
widespread zones of mineralization, and an alteration halo that exceeds over
230 m
which is
suggestive of a massive structurally-controlled fluid system. We are still in the early days of
exploring and learning more about ACKIO but these assay results from AK21-01 have provided us
with invaluable information to help us plan our next steps accordingly," said
James Sykes
, CEO,
President and Director of Baselode.
The Company will follow this news release with a video presentation for the public in the coming
days that will provide encouraging comparisons with other notable
Athabasca
basement-hosted,
high-grade Uranium deposits, such as 1) NexGen Energy's (TSX:NXE) Arrow deposit, and 2)
Denison Mines
(TSX:DML) Gryphon deposit. The video presentation will also highlight the
significance of elevated Cobalt, Copper, and Nickel intersected within the drill hole, as well as the
extent and meaning of anomalous Boron, Lithium and Vanadium within the massive alteration halo.
Assay results from the remaining drill holes (AK21-02A to AK21-04) completed on ACKIO in the
summer program will be released after they've all been received, quality checked, and approved by
the Company's technical team.
Planned Winter Drill Program on ACKIO
Baselode is planning for a 10,000 metre diamond drill program on the ACKIO discovery to begin in
mid- to late-January. Drill holes will be planned to intersect mineralization along strike and dip, which
remains open in all directions, and to test for unconformity-style of mineralization. The drill program
will be operated with helicopter support to lessen any ground-induced environmental impacts within
the project area.
ACKIO is located 30 km southeast of well-established infrastructure including an all-season road and
powerline that runs between Cameco Corp.'s (TSX: CCO) and Orano's
McArthur River
mine and
Key Lake Uranium mill joint ventures. ACKIO is located 70 km northeast of the Key Lake mill.
NOTES:
* Baselode considers "high-grade" to be uranium mineralization with a concentration greater than 0.5 wt% U
3
O
8
1. All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined.
About Baselode Energy Corp.
Baselode currently 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., Projects Manager 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.
TABLE 1: HOOK PROJECT - SUMMER 2021 DRILL HOLE U
3
O
8
ASSAY RESULTS
DDH*
Target
Area
Az*
Dip
EOH*
(m)
Easting
Northing
Elevation
AK21-01
ACKIO
270
-60
471.0
526,245
6,372,955
467
From
(m)
To (m)
Interval (m)
Vertical
Depth (m)
U
3
O
8
(wt%)
126.80
128.80
2.00
108.50
0.05
130.30
130.80
0.50
111.50
0.06
134.30
149.80
15.50
115.00
0.13
includes
138.80
139.30
0.50
118.90
1.29
and
142.30
142.80
0.50
121.90
0.66
284.60
285.80
1.20
244.40
0.06
366.70
367.70
1.00
315.50
0.05
368.80
369.20
0.40
317.30
0.06
Cut-off grade = 0.045 wt% U
3
O
8
Maximum consecutive internal dilution = 2.0 m down hole
True widths have yet to be determined
*"DDH" refers to "diamond drill hole", "Az" refers to "drill hole azimuth" and "EOH" refers to "End of Hole"
"Easting", "Northing" are both measured in metres, NAD83 Datum, UTM Zone 13N
"Elevation" is presented as "metres above sea level"
"Vertical Depth" is presented as "metres below surface"
SOURCE
Baselode Energy Corp.
View original content:
http://www.newswire.ca/en/releases/archive/December2021/06/c4720.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 06-DEC-21