TORONTO, Aug. 10, 2020 /CNW/ - Baselode Energy Corp.
("Baselode" or the "Company") (TSXV: FIND) is pleased
to announce that it has engaged Expert Geophysics Ltd. to complete
a 2,600 line-kilometre mobile magnetotellurics ('Mobile MT')
heli-borne survey. This survey will cover the entirety of
Baselode's Shadow property of over 420 square kilometres in the
Athabasca Basin region. The survey
is expected to begin August 10,
2020.
Why is Baselode using Mobile MT?
Mobile MT is a
cutting-edge geophysical technology which allows for the
identification of geologic structures, alteration halos,
contrasting lithologies and even certain types of mineralization
from near surface to deeper than 1 km from surface.
Baselode is using Mobile MT to identify deep and shallow
structures related to the Virgin River Shear Zone ("VRSZ"), one of
the most prominent structural corridors in northern Saskatchewan. The VRSZ is the boundary between
two tectonic domains and its hydrothermal 'plumbing' system can run
deep. These deep-rooted structural systems allow for
significant fluid migration which can lead to the formation of
high-grade uranium deposits.
Four uranium deposits north of the Shadow property have
previously been discovered along a 250-km strike extension of the
VRSZ, proving the VRSZ is a fertile structural corridor for uranium
mineralization. The Shadow property straddles the VRSZ over a
60 km-long strike length that has never been explored for any
mineral commodity.
What is Mobile MT?
Stationary Magnetotellurics (MT) is a long-established
electromagnetic geophysical method which provides accurate
sub-surface data for reliable geological interpretations. MT
measures the earths' subsurface electrical conductivity using the
natural geomagnetic and geoelectric field variations in the
earth. MT utilizes the electrical fields generated by
lightning discharges from thunderstorms that propagate through the
sub-surface. MT is akin to conventional resistivity and
electromagnetic surveys but incorporates magnetic fields to further
help determine electrical heterogeneities between the earth and the
audio frequencies. This technology has proven superior for
identifying geological features of interest rather than
conventional electromagnetic methods.
Magnetotellurics has successfully mapped graphitic conductors
and alteration plumes related to mineralization at the McArthur
River (Cameco) and Shea Creek
(Orano/UEX) uranium deposits.
Mobile MT remains at the forefront of emerging exploration
geophysical technologies. The "mobile" aspect of magnetotellurics,
with data acquisition being possible with helicopter support, is a
development which is proving to be a significant evolutionary shift
in airborne geophysical methodologies.
Next Steps are Survey Results
Preliminary results
will be made available on an on-going basis. Anomalous areas
identified by the preliminary survey results will be followed-up
via on-ground exploration, mapping and sample collection to
delineate high-quality drill target areas.
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 programs will target
these areas.
View Mobile MT Survey Flight Lines
on Shadow Property
Map of Baselode's Shadow
Property
Regional Map of Baselode's
Properties
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, northern
Saskatchewan, Canada. Baselode is
a uranium exploration company with less than 29 million shares
outstanding and only 9.8 million shares in the float.
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
complimented by the Company's preferred use of innovative and
well-understood geophysical methods to map deep structural controls
in order to identify shallow targets for diamond-drilling.
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
