Baselode Reports More Near-Surface Uranium Mineralization at ACKIO Mineralization confirmed with 0.67% U 3 O 8 over 2.1 m at 32 m true vertical depth Additional shallow mineralization of 0.23% U 3 O 8 over 13.0 m at 44 m true vertical depth
Baselode Reports More Near-Surface Uranium
Mineralization at ACKIO
Mineralization confirmed with 0.67% U
3
O
8
over 2.1 m at 32 m true vertical depth
Additional shallow mineralization of 0.23% U
3
O
8
over 13.0 m at 44 m true vertical depth
which includes high-grade intersection of 1.82% U
3
O
8
over 1.0 m
2 of 4 drill holes with mineralization starting within 40 metres of surface
Assays pending from 11 remaining drill holes, including those with the highest
radioactivity results
Toronto, Ontario--(Newsfile Corp. - November 20, 2023) - Baselode Energy Corp. (TSXV: FIND)
(OTCQB: BSENF) ("
Baselode
" or the "
Company
") is pleased to announce new uranium ("
U
3
O
8
")
assays from 4 drill holes from the 7,512 metre diamond drilling program (the "
Program
") completed
within the ACKIO uranium prospect ("
ACKIO
") on the Hook project ("
Hook
" or the "
Project
"). Baselode
has assays from 11 drill holes to be released, including those with the highest radioactivity results.
"Drill hole AK23-112 confirms Pod 7 as ACKIO's second zone of near-surface uranium mineralization.
After the overburden, AK23-112 immediately penetrated mineralized bedrock, returning a significant
concentration of 0.67% U
3
O
8
over 2.1 meters at a true vertical depth of 32.0 meters. The same drill hole
cut a broad mineralized intercept (0.23% U
3
O
8
over 13.0 m at 44 m true vertical depth) with high-grade
uranium (1.82% U
3
O
8
over 1.0 m) within 20 m of the upper intersection.
Analysis of these results may
suggest we have overlooked the potential for other lenses and sructures to be mineralized up to the base
of the overburden. Our primary aim is to delineate the expansive scope of the ACKIO uranium system.
While the near-surface mineralization remains under-explored, the system remains largely untested at
depth. The potential for an extensive and robust uranium mineralized system within ACKIO is very
exciting," stated James Sykes, CEO, President, and Director of Baselode.
ACKIO Drill Program Details
36 drill holes for 7,512 metres ("
m
") were completed during the Program. ACKIO consisted of 30 drill
holes for 6,193 m, Mirror consisted of 5 drill holes for 1,145 m, and 1 drill hole for 174 m was completed
on a regional exploration target.
Drill holes AK23-111 to AK23-113 were drilled specifically to target uranium mineralization at the
overburden contact outside of modeled areas. The results from holes AK23-111 and AK23-112 suggest
Pod 7 could have a minimum 25 m wide uranium mineralized envelope at the overburden contact.
Drill hole AK23-116 confirmed the presence and continuity of narrow mineralization over discrete widely
spaced intervals between the main body's of Pods 1 and 7.
Geochemical U
3
O
8
assay results from drill holes AK23-111 to AK23-113, and AK23-116 were provided
by Saskatchewan Research Council's Geoanalytical Laboratory ("
SRC
") in Saskatoon, Saskatchewan.
The assay methodology includes SRCs "U
3
O
8
Wt% Assay" analysis package where an aliquot of
sample pulp is digested in a concentration of HCL:HNO
3
. The digested volume is then made up with
deionized water for analysis by ICP-OES. Uranium assay results from the remaining eleven drill holes will
be released after being compiled, thoroughly quality checked, and interpreted by the technical team.
ACKIO is 30 km southeast of well-established infrastructure, including an all-season road and powerline
between Cameco Corp.'s 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.
NOTES:
1
.
All reported drill hole lengths do not represent true thicknesses which have yet to be determined.
2
.
* "
High-grade uranium mineralization
" is defined by the Company as any result with >1.00% U
3
O
8
.
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, uranium prospect in September 2021. ACKIO
measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate
uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1
and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of
mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and
east.
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.sedarplus.ca
.
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 modelled ACKIO uranium mineralization, drill hole collar
locations and traces for AK23-111 to AK23-113, AK23-116
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/187976_befc059304d7ead4_005full.jpg
TABLE 1 – Drill collar details, continuous composite elevated radioactivity results, and uranium assay
results (U3O8) from drill holes
AK23-111 to AK23-113, AK23-116
DDH
Target
Area
Location
East
North
Elevation
Az.
Dip
EOH
Radioactivity
(>300 cps)
Assay Results
(>0.05 wt% U
3
O
8
)
AK23-111
ACKIO
Pod 7 - Overburden
contact
525671
6427532
463
270
-75
211.3
590 cps over 5.65 m at
39.8 m
0.13% over 6.5 m at 39.5
m
1
303 cps over 2.45 m at
58.1 m
0.06% over 0.5 m at 60.0
m
302 cps over 2.45 m at
65.05 m
0.08% over 0.5 m at 67.0
m
395 cps over 3.1 m at
77.55 m
0.06% over 0.5 m at 78.5
m & 0.06% over 0.5 m at
79.5 m
400 cps over 0.1 m at
93.1 m
Results below cutoff
grade
AK23-112
ACKIO
Pod 7 - Overburden
contact
525671
6427532
463
270
-60
129
1,235 cps over 2.7 m at
36.9 m
0.67% over 2.1 m at
36.9 m
includes
N/A
0.83% over 1.5 m at
37.5 m
400 cps over 0.05 m at
42.0 m
Results below cutoff
grade
350 cps over 0.15 m at
45.0 m
Results below cutoff
grade
1,654 cps over 7.75 m at
49.65 m & 347 cps over
8.2 m at 59.65 m
0.23% over 13.0 m at
50.5 m
includes
6,086 cps over 1.2 m at
56.05 m
1.82% over 1.0 m at
56.0 m
319 cps over 1.35 m at
75.75 m
Results below cutoff
grade
AK23-113
ACKIO
Pod 7 - Overburden
contact
525671
6427532
463
270
-45
90
400 cps over 0.15 m at
52.0 m
Results below cutoff
grade
AK23-116
ACKIO
Between Pods 1 & 7
526058
6373005
463
270
-60
138
852 cps over 1.9 m at
88.25 m
0.21% over 1.5 m at 88.5
m
362 cps over 2.2 m at
107.2 m
0.06% over 0.5 m at
107.0 m & 0.09% over
0.5 m at 109.0 m
4,700 cps over 0.15 m at
112.55 m
0.32% over 0.5 m at
112.5 m
1,238 cps over 0.5 m at
115.75 m
0.07% over 0.5 m at
115.5 m
663 cps over 0.2 m at
122.4 m
0.21% over 0.5 m at
122.4 m
4 DDH
568
4 DDH
3 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
Composite U3O8 results use 0.05% U3O8 cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is <0.05% U3O8)
"includes" are composite U3O8 results using 0.50% U3O8 cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is <0.50%
U3O8)
1 - includes 1.75 m lost core over interval length
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