TORONTO, July 27, 2020 /CNW/ - Baselode Energy Corp.
("Baselode" or the "Company") (TSXV: FIND) is pleased
to announce its exploration programs and upcoming catalysts for
both of its 100% owned and royalty free Shadow and Hook properties
in Saskatchewan's Athabasca Basin region ("Athabasca").
Regional Map of Baselode's Properties
About the Shadow Property
Shadow encompasses ~42,000
hectares along the basement rocks of the Virgin River Shear Zone
south of the Athabasca Basin.
Shadow exhibits similar structural and geophysical features
recognized in other Athabasca
high-grade uranium deposits, including a major, deep-rooted,
structural corridor along a preferred regional orientation. At the
confluence of the main structure and cross-cutting structures is
where the rocks tend to break open to create dilation zones, which
could promote uranium-rich fluids to migrate to these locations
(i.e., traps). Shadow's upcoming exploration program will target
these areas.
Shadow's Summer Exploration Program
In August,
Baselode is planning a property-wide, heli-borne, mobile
magnetotellurics ("mobile MT") geophysical survey. Mobile MT
acquires high-spatial resolution geoelectrical information from
near-surface to depths greater than 1 kilometer. This technology
can assist in identifying structures of interest and dilation zones
that would possibly host uranium deposits. Additionally,
Baselode will commence a ground exploration program in September as
a follow up to our findings from the mobile MT survey, and to study
and sample surface rocks.
"The majority of the Shadow property has never been explored. We
are excited to be the first explorers in this uncharted part of the
Athabasca Basin area as we search
for basement-hosted, high-grade uranium deposits. The mobile
MT survey will provide details of the rock types and structures
across the property. With this data, we will formulate a
structural thesis which highlights targets for follow-up, either
with additional detailed geophysical surveys or with a diamond
drill", commented Mr. James Sykes,
CEO & President of Baselode.
Map of Baselode's Shadow Property
About the Hook Property
Hook is located within the
basement rocks of the Wollaston Domain—the rock unit which hosts
the highest-grade uranium deposits in the world. Hook covers
~30,000 hectares on the southeast edge of the Athabasca Basin and is located 60 km
east-northeast of the Key Lake mill. Hook is particularly
prospective as it was once covered with Athabasca sandstones which have since been
eroded. This feature provides for excellent exploration conditions
for a near-surface, sub-unconformity, high-grade uranium
discovery.
Hook's Summer Exploration Plan
The Hook area has a
relatively large resource of historical work assessment, which is
available from the Saskatchewan Geological Survey. Baselode is
compiling this historical work and data to determine the
appropriate next steps. This will likely include property-wide
airborne geophysics, detailed ground geological studies and diamond
drilling areas of interest.
Mr. Sykes continues, "The Hook property requires an updated
geological and geophysical study in order to determine the
structural controls responsible for the deposition of high-grade
uranium veins that could trend onto the property (see Baselode news
release dated July 7, 2020 for
details). A number of other historical high-grade occurrences
have been mentioned on the property and our goal is to first
identify them all, then understand, and prioritize in order to
determine the most probable source(s) for near-surface uranium
mineralization".
Map of Baselode's Hook Property
QP Statement
The technical information contained in this news release has
been reviewed and approved by Charles
Beaudry, P.Geo and géo., Director of Baselode Energy
Corp., who is a Qualified Person as defined in "National Instrument
43-101, Standards of Disclosure for Mineral Projects."
About Baselode Energy
Baselode currently controls 100% rights to surface exploration
on 71,821 hectares in the Athabasca Basin area. Baselode is a uranium
exploration company with less than 29 million shares outstanding
and only 9.8 million shares in the float. Baselode is focused on
discovering basement-hosted, high-grade uranium orebodies in the
Athabasca Basin area of northern
Saskatchewan, Canada.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) 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 filings by the
Company 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
