TORONTO, Aug. 28, 2020 /CNW/ - Baselode Energy Corp.
("Baselode" or the "Company") (TSXV: FIND) is pleased
to announce that it has expanded its land position at its Shadow
uranium property ("Shadow") in the Athabasca Basin area ("Athabasca") of Saskatchewan, Canada. Shadow now covers
46,000 hectares (460 km2) and encompasses a larger area
along the Virgin River Shear Zone ("VRSZ").
The Shadow property was expanded based on the preliminary
results of the Company's heliborne mobile magnetotellurics survey
("Mobile MT") as announced on August
10, 2020. The Mobile MT survey completed 2,600
line-kilometre covering the entirety of the Shadow property. The
preliminary results from the Mobile MT survey delineated an
abundance of structures on and adjacent to the Shadow property.
Shadow's expanded property boundary now encompasses more structures
along the VRSZ, maximizing the Company's discovery potential.
Baselode expects to receive full results and interpretations
from the Mobile MT survey in the coming weeks.
Mr. James Sykes, CEO and
President of Baselode, commented: "We are excited with the
preliminary results from our Mobile MT survey which outlined an
extensive structural network which shares geophysical similarities
with other high-grade uranium deposits, such as NexGen's Arrow and
Cameco's mined-out Key Lake deposits. This additional land
staking on Shadow now covers a structural corridor of interest and
further secures our foothold along the VRSZ. We are eagerly
anticipating the final results from the Mobile MT survey in order
to define follow-up diamond drill exploration
targets".
Map of Shadow Property Expansion
Baselode's Shadow property exhibits favourable characteristics
for potential basement-hosted uranium mineralization. The
VRSZ is one of the largest structural trends observed in
Northern Saskatchewan and hosts
other uranium deposits, most notably Cameco's Centennial uranium
deposit.
Baselode Energy Corporate Presentation
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
Baseload is a uranium exploration company less than 29 million
shares outstanding only 9.8 million shares in the float. Baselode
is focused on discovering a uranium orebody in the Athabasca basin in 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
