Baselode Starts 10,000 Metre Drill Program at ACKIO High-Grade Uranium Zone, Hook Project Diamond drilling is underway at ACKIO targeting high-grade and shallow uranium mineralization Updates will be released accordingly
Baselode Starts 10,000 Metre Drill Program at
ACKIO High-Grade Uranium Zone, Hook
Project
Diamond drilling is underway at ACKIO targeting high-grade and shallow uranium
mineralization
Updates will be released accordingly
Toronto, Ontario--(Newsfile Corp. - June 5, 2023) - Baselode Energy Corp. (TSXV: FIND) (OTCQB:
BSENF) ("
Baselode
" or the "
Company
") is pleased to announce that diamond drilling has commenced
on the ACKIO high-grade uranium zone ("
ACKIO
") as part of a larger 10,000 m diamond drilling
program (the "
Program
") for the Hook project ("
Hook
" or the "
Project
", see
Figures 1
and
2
).
"We're very excited to get back to Hook. With a successful financing behind us, we are well-positioned to
advance ACKIO with definition and expansion drilling, while maintaining our vision to discover more
mineralization with exploration drilling near ACKIO and Project-wide. This drill program will seek to
discover additional mineralization along high-grade uranium trends within ACKIO, discover new zones
within ACKIO's structural domain, and target new zones up to twelve kilometres south of ACKIO. 2022's
drill results indicate potential for shallow, sandstone-unconformity mineralization at ACKIO within
completely undrilled structural target areas. Sandstone-unconformity mineralization is typically higher-
grades than basement-hosted mineralization, which is an exciting prospect for Baselode to target. Hook
is highly prospective for numerous near-surface, basement-hosted, high-grade uranium discoveries, and
we intend to test top-tier target areas with this current and future drill programs," said James Sykes,
CEO, President and Director of Baselode.
The Company is preparing a presentation to provide more details regarding the Program's drill targets
and plans.
ACKIO/Hook 2023 Summer Drill Program
10,000 metres of diamond drilling are planned for Hook this summer. The breakdown includes 7,500
metres allocated to delineation and expansion diamond drilling on ACKIO (Figure 1), and 2,500 metres
partitioned in three to five areas for reconnaissance exploration to discover the next uranium zone on
Hook (Figures 1 and 2). The ACKIO delineation and expansion part of the Program will first focus on the
shallowest and/or the highest-grade uranium intersections defined in last years successful 22,500 metre
drill campaign. Drill collars have been planned to optimize the allocated metres by intersecting multiple
zones of mineralization from the same setups, and by limiting drill holes to specific stopping depths. The
drill program is anticipated to be complete by October. With the recent closing of the financing, the
company remains fully-funded to complete the program.
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, high-grade uranium deposit in September 2021.
ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 11
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 120
m. ACKIO remains open to the west, south, and along the Athabasca sandstone unconformity to the east
and south.
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.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.
Figure 1 - ACKIO Uranium Zone Expansion & Definition Drilling and Brownfield/SST
Exploration Target Areas, Hook Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/168734_250caf55846aabd8_005full.jpg
Figure 2 - Wildcat Exploration Target Areas South of ACKIO Uranium Zone, Hook Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/168734_250caf55846aabd8_006full.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/168734