Baselode Reports Seven Drill Holes With Uranium Mineralization Starting Within 50 Metres of Surface 17 drill holes with uranium mineralization: 10 confirm high-grade uranium mineralization* above 0.5% U 3 O 8 7 intersected uranium mineralization between 25 and 50 metres below surface
Baselode Reports Seven Drill Holes With
Uranium Mineralization Starting Within 50
Metres of Surface
17 drill holes with uranium mineralization:
10 confirm high-grade uranium mineralization* above 0.5% U
3
O
8
7 intersected uranium mineralization between 25 and 50 metres below surface
4 intersected uranium mineralization between 50 and 100 metres below surface
AK22-047: 1.67% U
3
O
8
over
7.5 m
at
99.3 m
true vertical depth includes 2.45% U
3
O
8
over
5.0 m
AK22-052: 0.58% U
3
O
8
over
27.6 m
at
28.1 m
true vertical depth includes 0.86% U
3
O
8
over
7.9 m
and 0.75% U
3
O
8
over
7.65 m
25 of the 44 drill holes intersecting elevated radioactivity are now reported
TORONTO
,
Sept. 12, 2022
/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF)
("
Baselode
" or the "
Company
") is pleased to announce the geochemical assay results from an
additional twenty-eight drill holes of the now-complete 22,500 metre diamond drill program (the
"
Program
") on the ACKIO high-grade uranium discovery ("
ACKIO
"), Hook project,
Athabasca
Basin
area (the "
Athabasca
"), northern
Saskatchewan
(see
Table 1
and
Figure 1
).
"We are enthusiastic about confirming additional near-surface, high-grade uranium mineralization in
several drill holes at ACKIO. Four of the reported drill holes (AK22-038, -051, -052, -058) have
intersected uranium mineralization starting at the glacial overburden contact with bedrock. That's as
shallow as possible at ACKIO and very encouraging. There hasn't been mineralization as shallow as
these results reported in the
Athabasca
in the past few decades. The
Athabasca
is renowned for the
world's highest uranium grades, commonly over 1% U
3
O
8
, and drill hole AK22-047 delivers 1.67%
U
3
O
8
over
7.5 m
starting within
100 m
of surface. Seven drill holes returned broad intersection
widths ranging from 10 metres to 30 metres, and some with total assay composite drill hole widths
up to 60 metres. These reported drill hole results reinforce that ACKIO has shallow, broad and high-
grade uranium mineralization, characteristic of historic
Athabasca
-open pit mining operations. We
believe ACKIO has significant upside potential, and we look forward to planning the next phase of
diamond drilling to discover more shallow, high-grade uranium mineralization," said
James Sykes
,
CEO, President and Director of Baselode.
The Company is preparing a video to provide more context to the results reported herein.
Drill hole highlights from this news release include;
AK22-034
: 0.41% U
3
O
8
over
6.7 m
at
170.65 m
(
170.0 m
true vertical depth) includes
0.87% U
3
O
8
over
2.1 m
at
173.2 m
AK22-035
: 0.54% U
3
O
8
over
7.3 m
at
160.2 m
(
145.2 m
true vertical depth) includes
0.66% U
3
O
8
over
4.05 m
at
162.95 m
AK22-036
: 0.16% U
3
O
8
over
16.5 m
at
133.0 m
(
94.0 m
true vertical depth) includes
0.52% U
3
O
8
over
0.5 m
at
142.5 m
AK22-037
: 0.12% U
3
O
8
over
15.0 m
at
135.95 m
(
135.4 m
true vertical depth)
AK22-038
: 0.22% U
3
O
8
over
6.5 m
at
35.85 m
(
35.7 m
true vertical depth) includes
1.30% U
3
O
8
over
0.5 m
at
35.85 m
AK22-047
: 1.67% U
3
O
8
over
7.5 m
at
140.35 m
(
99.3 m
true vertical depth) includes
2.45% U
3
O
8
over
5.0 m
at
140.85 m
Highest individual assay of 4.72% U
3
O
8
over
0.5 m
AK22-051
: 0.50% U
3
O
8
over
28.9 m
at
28.45 m
(
28.3 m
true vertical depth) includes
1.88% U
3
O
8
over
0.55 m
at
31.15 m
0.79% U
3
O
8
over
10.6 m
at
41.85 m
AK22-052
: 0.58% U
3
O
8
over
27.6 m
at
30.95 m
(
28.1 m
true vertical depth) includes
0.86% U
3
O
8
over
7.9 m
at
31.45 m
0.75% U
3
O
8
over
7.65 m
at
49.85 m
AK22-053
: 0.43% U
3
O
8
over
18.9 m
at
137.45 m
(
97.2 m
true vertical depth) includes
0.64% U
3
O
8
over
10.45 m
at
139.45 m
AK22-058
: 0.19% U
3
O
8
over
13.5 m
at
35.65 m
(
32.3 m
true vertical depth) includes
0.64% U
3
O
8
over
0.5 m
at
45.65 m
and
0.16% U
3
O
8
over
27.35 m
at
53.65 m
(
48.6 m
true vertical depth) includes
1.07% U
3
O
8
over
0.3 m
at
69.45 m
0.75% U
3
O
8
over
1.0 m
at
74.5 m
43.85 m
of total composite mineralization
AK22-063
: 0.07% U
3
O
8
over
31.0 m
at
40.5 m
(
40.3 m
true vertical depth)
and
0.10% U
3
O
8
over
19.5 m
at
74.0 m
(
73.7 m
true vertical depth) includes
0.54% U
3
O
8
over
0.5 m
at
87.5 m
59.85 m
of total composite mineralization
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 (AK22-048), 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-eight drill holes reported in this news release (AK22-034 to
AK22-038, and AK22-042 to AK22-063) are provided in
Table 1
.
Geochemical U
3
O
8
assay results from these twenty-eight 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 twenty-nine drill
holes will be released as they are received from SRC and after being compiled and thoroughly
quality 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
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.
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 >0.50% U
3
O
8
over a minimum of 0.25 m drill hole interval
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."
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/September2022/12/c8141.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 12-SEP-22