Baselode Reports Near-Surface High-Grade Intersection of 1.11% U3O8 over 7.4 Metres High-grade intersection of 1.11% U 3 O 8 over 7.4 m within 0.41% U 3 O 8 over 34.85 m at 43.5 m true vertical depth in AK23-95 3 of 5 drill holes with mineralization starting within 50 metres of surface and with grea
Baselode Reports Near-Surface High-Grade
Intersection of 1.11% U3O8 over 7.4 Metres
High-grade intersection of 1.11% U
3
O
8
over 7.4 m within 0.41% U
3
O
8
over 34.85 m at 43.5
m true vertical depth in AK23-95
3 of 5 drill holes with mineralization starting within 50 metres of surface and with greater
than 30 metres of mineralization
Assays pending from 15 remaining drill holes, including those with the highest
radioactivity results
Toronto, Ontario--(Newsfile Corp. - November 8, 2023) - Baselode Energy Corp. (TSXV: FIND)
(OTCQB: BSENF) ("
Baselode
" or the "
Company
") is pleased to announce new uranium ("
U
3
O
8
")
assays from 5 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
"). Assays
from the remaining 15 drill holes cover shallow mineralization expanding Pod 7, and exploration drill
holes outside the known ACKIO footprint.
"ACKIO continues to impress us with near-surface, high-grade uranium mineralization in Pod 1, and with
growth potential in Pod 7 starting to be realized. Drill holes AK23-095, AK23-096, and AK23-098
intersected mineralization starting within 50 m of surface, and had greater than 30 m of composite
mineralization. This demonstrates the potential of ACKIO as it hosts shallow, high-grade uranium and is
endowed with multiple thick sequences of mineralization. In addition, Pod 7 has grown in thickness,
depth, and strike length with four drill holes, remaining open at depth and along strike. We anticipate
more encouraging results from Pod 7 as the highest levels of radioactivity encountered in the Program
were drilled 50 m along strike of holes AK23-98 and AK23-99," said 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 AK23-95, AK23-96, AK23-98 and AK23-99 were drilled within the centre of Pod 1, with the
former two drill holes also targeting moderate to deeper portions of Pod 7 to the west, and the latter two
drill holes testing the edge of modeled mineralization in Pod 7.
Extensive shallow mineralization starting within 50 m of surface was confirmed in three drill holes in Pod
1, including 0.41% U
3
O
8
over 34.85 m at 46.65 m (43.5 m true vertical depth) from AK23-95 and 0.36%
U
3
O
8
over 20.0 m at 54.0 m (49.7 m true vertical depth) from AK23-96.
Drill holes AK23-95 and AK23-98 confirmed extensive mineralization within the main body of Pod 7,
including 0.11% U
3
O
8
over 24.5 m at 134.5 m (125.3 m true vertical depth) from AK23-95 and 0.18%
U
3
O
8
over 13.0 m at 132.0 m (101.1 m true vertical depth) from AK23-98. These results expanded the
modelled width of Pod 7 (Figure 2).
Drill holes AK23-96 and AK23-99 intersected significant uranium mineralization below Pod 7, expanding
the modelled depth of Pod 7 (Figure 2). Pod 7 remains open at depth.
Drill hole AK23-97 tested the gap between Pods 1 and 2 to determine if the two Pods are connected.
The drill hole intersected a few minor structures with uranium concentrations below reporting limits but
not enough uranium to sufficiently determine Pods 1 and 2 as the same Pod (Figure 2).
Geochemical U
3
O
8
assay results from drill holes AK23-95 to AK23-99 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 fifteen 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 (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.
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 modeled ACKIO uranium mineralization, drill hole collar
locations and traces for AK23-95 to AK23-99
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/186613_91a741f674b7f9a2_005full.jpg
FIGURE 2 – Cross Section with Drill Holes AK23-95 to AK23-97
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/186613_91a741f674b7f9a2_006full.jpg
TABLE 1 – Drill collar details, continuous composite elevated radioactivity results, and
uranium assay results (U
3
O
8
) from drill holes
AK23-95 to AK23-99
DDH
Target
Area
Location
East
North
Elevation
Az.
Dip
EOH
Radioactivity (>300 cps)
Assay Results (>0.05 wt%
U
3
O
8
)
AK23-95
ACKIO
Pod 1 -
Centre
526119
6372952
464
271
-51
180
1,019 cps over 35.75 m at
46.75 m
0.41% over 34.85 m at 46.65
m
1
includes
6,300 cps over 0.15 m at
59.2 m
1.24% over 1.0 m at 59.0 m
and
includes
N/A
0.61% over 0.5 m at 64.0 m
and
includes
5,500 cps over 0.15 m at
71.7 m &
5,290 cps over 0.6 m at
72.15 m &
6,100 cps over 0.2 m at
73.15 m
1.11% over 7.4 m at 70.6 m
310 cps over 0.25 m at 90.0
m
Results below cutoff grade
315 cps over 0.15 m at 117.2
m
Results below cutoff grade
375 cps over 0.1 m at 123.3
m
Results below cutoff grade
300 cps over 0.1 m at 126.7
m
Results below cutoff grade
450 cps over 0.1 m at 127.05
m
Results below cutoff grade
350 cps over 0.1 m at 127.4
m
Results below cutoff grade
300 cps over 0.1 m at 127.85
m
Results below cutoff grade
315 cps over 0.1 m at 128.2
m
Results below cutoff grade
350 cps over 0.1 m at 129.65
m
Results below cutoff grade
Pod 7 -
Centre
467 cps over 28.45 m at
131.3 m
0.11% over 24.5 m at 134.5
m
includes
6,250 cps over 0.10 m at
139.05 m
0.51% over 0.5 m at 139.0 m
378 cps over 1.05 m at
163.85 m
0.09% over 0.5 m at 164.0 m
AK23-96
ACKIO
Pod 1 -
Centre
526119
6372952
464
273
-67
210
788 cps over 24.55 m at
54.0 m
0.36% over 20.0 m at 54.0 m
& 0.08% over 0.5 m at 77.5
m
includes
N/A
0.68% over 1.15 m at 55.0 m
and
includes
5,500 cps over 0.05 m at
62.35 m
0.70% over 4.0 m at 58.5 m
and
includes
N/A
0.64% over 0.5 m at 65.5 m
and
includes
N/A
0.66% over 0.5 m at 70.5 m
500 cps over 0.15 m at 84.5
m
0.07% over 0.35 m at 84.5 m
316 cps over 0.5 m at 87.0 m
Results below cutoff grade
300 cps over 0.1 m at 88.0 m
Results below cutoff grade
300 cps over 0.4 m at 91.1 m
& 1,031 cps over 3.0 m at
93.35 m
0.34% over 5.25 m at 91.0
m
2
includes
N/A
0.80% over 2.1 m at 93.5 m
3
Pod 7 -
Centre
485 cps over 6.85 m at 153.1
m
0.11% over 2.0 m at 154.5 m
& 0.09% over 1.0 m at 159.0
m
441 cps over 2.75 m at 162.0
m
0.09% over 0.5 m at 162.0 m
& 0.13% over 0.5 m at 164.0
m
2,680 cps over 0.6 m at
167.75 m
0.83% over 0.5 m at 167.5 m
includes
7,822 cps over 0.2 m at
167.8 m
1,008 cps over 2.5 m at 170.6
m
0.28% over 3.0 m at 170.5 m
includes
7,850 cps over 0.05 m at
173.0 m
0.56% over 0.5 m at 172.5 m
886 cps over 2.4 m at 179.6
m
0.24% over 2.5 m at 179.5 m
includes
7,500 cps over 0.05 m at
179.7 m & 9,000 cps over
0.1 m at 179.85 m
0.83% over 0.5 m at 179.5 m
386 cps over 0.8 m at 184.65
m
0.12% over 1.0 m at 184.5 m
AK23-97
ACKIO
Pods 1 and
2 - Edge
526119
6372952
464
272
-80
141
310 cps over 0.25 m at 101.5
m
Results below cutoff grade
315 cps over 0.2 m at 102.4
m
Results below cutoff grade
300 cps over 0.3 m at 109.5
m
Results below cutoff grade
350 cps over 0.25 m at
111.25 m
0.11% over 0.25 m at 111.25
m
AK23-98
ACKIO
Pod 1 -
Centre
526100
6373006
465
270
-50
164
500 cps over 0.25 m at 46.2
m
0.12% over 0.5 m at 46.0 m
491 cps over 0.55 m at 51.5
m
0.10% over 1.0 m at 51.0 m
511 cps over 10.7 m at 55.3
m
0.10% over 10.7 m at 55.3 m
426 cps over 0.75 m at 83.25
m
0.17% over 1.0 m at 83.0 m
No significant results
0.05% over 0.1 m at 90.65 m
350 cps over 0.15 m at 97.05
m
0.05% over 0.2 m at 97.0 m
330 cps over 0.15 m at
104.55 m
Results below cutoff grade
370 cps over 0.15 m at 114.4
m
0.08% over 1.6 m at 113.5 m
502 cps over 0.5 m at 118.6
m
0.09% over 1.0 m at 118.5 m
Pod 7 -
Edge
355 cps over 1.4 m at 125.6
m
0.06% over 1.0 m at 125.5 m
453 cps over 13.05 m at
131.75 m
0.18% over 13.0 m at 132.0
m
includes
N/A
0.57% over 2.5 m at 140.5 m
AK23-99
ACKIO
Pod 1 -
Centre
526100
6373006
465
271
-68
201
643 cps over 14.9 m at
71.05 m
0.27% over 16.0 m at 71.0 m
includes
N/A
0.60% over 1.5 m at 71.5 m
and
includes
N/A
0.70% over 0.5 m at 79.0 m
and
includes
6,500 cps over 0.1 m at 81.9
m
0.79% over 1.5 m at 81.5 m
N/A
0.08% over 0.1 m at 94.4 m
350 cps over 0.1 m at 120.65
m
0.06% over 1.5 m at 120.0 m
501 cps over 0.2 m at 126.5
m
0.11% over 1.0 m at 126.5 m
350 cps over 0.25 m at
156.45 m
0.06% over 0.5 m at 156.5 m
Pod 7 -
Edge
530 cps over 3.05 m at
160.65 m
0.15% over 3.5 m at 160.5 m
350 cps over 0.2 m at 174.05
m
Results below cutoff grade
5 DDH
896
5 DDH
5 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/and 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 3.5 m lost core over interval length
2 - includes 1.9 m lost core over interval length
3 - includes 0.4 m lost core over interval length
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/186613