Baselode Reports Numerous High-Grade Uranium Intersections Including 0.55% U3O8 Over 13.2 m · AK22-032: 0.55% U 3 O 8 over 13.2 m at 136.0 m true vertical depth includes 0.99% U 3 O 8 over 6.3 m · AK22-011: 0.69% U 3 O 8
Baselode Reports Numerous High-Grade Uranium
Intersections Including 0.55% U3O8 Over 13.2 m
·
AK22-032: 0.55% U
3
O
8
over
13.2 m
at
136.0 m
true vertical depth includes 0.99% U
3
O
8
over
6.3 m
·
AK22-011: 0.69% U
3
O
8
over
3.6 m
at
144.6 m
true vertical depth includes 1.26% U
3
O
8
over
0.5 m
·
AK22-009: 0.28% U
3
O
8
over
10.5 m
at
107.6 m
true vertical depth includes 0.51% U
3
O
8
over
2.0 m
·
Of the reported drill holes, five confirm high-grade uranium mineralization in excess of 0.5% U
3
O
8
and eight
intersected uranium mineralization at less than 200 metres below surface
·
8 of the 44 drill holes that intersected elevated radioactivity are now reported
TORONTO
,
Aug. 22, 2022
/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("
Baselode
" or the
"
Company
") is pleased to announce the geochemical assay results from twenty-one drill holes of the now-complete 2022
diamond drill program (the "
Program
") on the ACKIO high-grade uranium discovery ("
ACKIO
"), Hook project,
Athabasca
Basin area (the "
Basin
"), northern
Saskatchewan
(see
Table 1
and
Figure 1
).
"We're very happy to be releasing the first set of uranium assay results from this years 22,485 metre drill program on
ACKIO. These results are better than we had anticipated. We're seeing a lot of mineralization in these early Program drill
holes that exceed the results from our discovery drill program last year. Five of our drill holes intersected mineralization
exceeding 10 metres in core length, and a few drill holes have multiple intercepts. These are significant as they
demonstrate a thick, robust, and multi-layered deposit. The mineralization reported herein is shallow, within 100 to 200
metres true vertical depth from the surface. We're confirming grades and other characteristics at ACKIO that are similar
to historically mined open pit deposits in the Basin area. We are excited for the assays from the remaining thirty-six drill
holes with elevated radioactivity to be received as we believe they will continue to highlight excellent U
3
O
8
assay results
from shallower depths intersected at ACKIO," said
James Sykes
, CEO, President and Director of Baselode.
The Company has prepared a video (
see link below
) that discusses:
How to understand these ACKIO assay results in context of typical high-grade uranium
Athabasca
deposits versus
historic low-grade uranium
Athabasca
mines and other global uranium operations
VIEW BASELODE'S WEBINAR DETAILING THE FIRST SET OF ASSAY RESULTS FROM THE 2022 DRILL PROGRAM
Drill hole highlights from this news release include;
AK22-008
: 0.11% U
3
O
8
over
8.0 m
at
175.65 m
(
124.2 m
true vertical depth)
AK22-009
: 0.28% U
3
O
8
over
10.5 m
at
136.6 m
(
107.6 m
true vertical depth) includes
0.51% U
3
O
8
over
2.0 m
at
137.1 m
and
1.32% U
3
O
8
over
0.5 m
at
144.6 m
AK22-011
: 0.69% U
3
O
8
over
3.6 m
at
204.2 m
(
144.6 m
true vertical depth) (NOTE: includes
2.1 m
core loss over
interval) includes
1.26% U
3
O
8
over
0.5 m
at
206.8 m
0.17% U
3
O
8
over
13.85 m
at
214.0 m
(
151.3 m
true vertical depth) includes
0.59% U
3
O
8
over
0.5 m
at
214.0 m
and
1.14% U
3
O
8
over
0.5 m
at
217.1 m
AK22-023
: 0.23% U
3
O
8
over
13.5 m
at
208.0 m
(
147.1 m
true vertical depth) includes
0.72% U
3
O
8
over
1.5 m
at
218.0 m
0.21% U
3
O
8
over
16.0 m
at
234.5 m
(
165.8 m
true vertical depth) includes
0.83% U
3
O
8
over
1.0 m
at
248.0 m
AK22-025
: 0.19% U
3
O
8
over
4.9 m
at
152.5 m
(
132.1 m
true vertical depth)
0.23% U
3
O
8
over
13.2 m
at
213.5 m
(
184.9 m
true vertical depth) includes
0.86% U
3
O
8
over
1.5 m
at
218.5 m
AK22-032
: 0.55% U
3
O
8
over
13.2 m
at
192.35 m
(
136.0 m
true vertical depth) includes
0.99% U
3
O
8
over
6.3 m
at
196.0 m
Baselode started the Program on
February 9, 2022
(
see Company News Release
) and completed the Program on
August
2, 2022
, with 78 drill holes (AK22-005 to AK22-080, and HK22-007), including one abandoned drill hole, for a total of
22,485.85 m
(
see Figure 1
). Forty-four of seventy-six drill holes at ACKIO have intersected elevated radioactivity. A
complete list of drill hole collar information, hand-held scintillometer radioactivity composite measurements, and U
3
O
8
composite assay results for the twenty-one drill holes reported in this news release (AK22-005 to AK22-011, and AK22-
020 to AK22-033) are provided in
Table 1
.
Geochemical U
3
O
8
assay results from these twenty-one reported drill holes 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 fifty-
seven drill holes will be released as they are received from SRC and after being compiled and thoroughly checked by the
technical team.
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
25 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.
NOTES:
1. All reported drill hole lengths do not represent true thicknesses which have yet to be determined.
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 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.,
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."
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/August2022/22/c0161.html
%SEDAR: 00044947E
For further information:
Baselode Energy Corp., FIND on the TSXV, [email protected], www.baselode.com; James
Sykes, CEO, President and Director, [email protected], 306-221-8717
CO: Baselode Energy Corp.
CNW 06:00e 22-AUG-22