Baselode to Begin Bear Uranium Project Drill Program and Updates on Catharsis 1,500 metre inaugural Bear drill program scheduled to start in coming weeks Catharsis drill program is complete, with results to be released when assays received
Baselode to Begin Bear Uranium Project Drill
Program and Updates on Catharsis
1,500 metre inaugural Bear drill program scheduled to start in coming weeks
Catharsis drill program is complete, with results to be released when assays received
Toronto, Ontario--(Newsfile Corp. - April 17, 2024) - Baselode Energy Corp. (TSXV: FIND) (OTCQB:
BSENF) ("
Baselode
" or the "
Company
") is pleased to provide updates for its Bear ("
Bear
") and
Catharsis ("
Catharsis
") uranium projects in the Athabasca Basin area, northern Saskatchewan (see
Figure 1).
"This is an exciting time as we begin our inaugural drill exploration program on Bear. The geology looks
compelling, with an apparent regional structure hosting uranium mineralization already being identified
with historic drilling and overlapping geophysical gravity low anomalies associated with bends in EM
conductors. A discovery at Bear would be fortuitous as it is located about 30 kilometres south of the Key
Lake uranium mill, and 10 kilometres east of the Key Lake haul road.
"We're also pleased to announce that we completed our second drill program on Catharsis, testing six
target areas. We're encouraged by the results from three target areas, which require additional follow-up
exploration. Full detailed results for Catharsis will be made available after all of the assays have been
received and interpreted by the Company," stated James Sykes, CEO, President, and Director of
Baselode.
Bear Program Details
The Bear drill program is planned for 1,500 metres with 6 to 8 drill holes targeting 3 to 4 different target
areas. The field crew has already commenced logistical support for Bear, and the drill crew are
scheduled to be on-site within two weeks. The helicopter-support program allows expedient drill
targeting and lessens any ground impacts on the environment. The Company has received the
necessary permits to complete the program.
In addition to the drill program, a low altitude, high-resolution airborne radiometric and magnetic survey
was completed on Bear in March. Final results have yet to be received but are expected prior to the start
of the drill program.
Catharsis Program Details
A total of 11 drill holes were completed for 2,837 metres covering six different target areas. In addition to
previously announced results (see
News Release dated March 4, 2024
), the Company intersected
encouraging hydrothermal alteration and structures in two additional target areas. Baselode will release
a detailed news release and video after all the assay results have been received and interpreted by the
Company.
In addition to the drill program, a low altitude, high-resolution airborne radiometric and magnetic survey
was completed on Catharsis in April.
About Baselode Energy Corp.
Baselode controls 100% of approximately 272,804 hectares for exploration in the Athabasca Basin area
of 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:
James Sykes, CEO, President and Director
Baselode Energy Corp.
306-221-8717
www.baselode.com
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 — Baselode projects location map. ACKIO uranium prospect identified with yellow
circle.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/205776_baselode.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/205776