TORONTO, Nov. 2, 2020 /CNW/ - Baselode Energy Corp.
("Baselode" or the "Company") (TSXV: FIND) is pleased
to announce that it has completed a comprehensive review of
the results from the mobile magnetotellurics ("Mobile MT")
heliborne survey. The Mobile MT survey covered 2,600 line-km over
the entirety of Baselode's 100% owned Shadow uranium property (the
"Property").
New Interpretations from the Mobile MT
Survey
Baselode's review of new 3D resistivity depth
inversions has highlighted important structural characteristics
favourable for the creation of uranium deposits. The Mobile MT
survey identified ~12 km strike-length of prospective structural
corridors in the Key target area, ~12 km in the Eagle/SUE target
area, and ~7 km strike-length in the Arrow target area. The rest of
the Property remains equally prospective for uranium deposition.
Figures are linked below.
"The geophysical interpretations depict fault zones of the
Virgin River Shear Zone ("VRSZ") that penetrate deeper than 1 km
below the surface. Within these structures, we have interpreted
bi-furcating and sub-parallel conductive corridors that were
previously not observed. These corridors' presence suggests
near-surface and shallow oblique-slip dilation structures, such as
flower-structures and horsetail splays. Dilation structures are
necessary as they act as a vacuum and trap, drawing in hydrothermal
fluids that deposit uranium. These critical structures act as
targeting vectors for our upcoming drill campaign," said
James Sykes, Baselode's CEO &
President.
Figure 1 is a plan map view of the Shadow Property
with the interpreted resistivity low axes (the "axes")
overlain on the vertical derivative interpretation of the
magnetics. The axes are interpreted to represent the structural
corridors of interest for uranium movement and deposition.
Figure 2 and Figure 3 are
cross-sectional views of the interpreted resistivity inversions of
flight lines 3760 and 3840, respectively. These cross-sections show
one of the many structural features of interest that could trap and
deposit uranium. The change in the resistivity axes depths from
Figure 2 to Figure 3 is suggestive of two overlapping fault zones
which would contain a damage zone between them, thereby increasing
rock porosity and enhancing fluid migration (i.e., a fluid trap).
The cross-sections are spaced 800 m
apart and occur along an interpreted sheared fold limb. Sheared
fold limbs are common structural loci for uranium deposition.
Exploration Plans
Permit applications to conduct
diamond drilling, ground gravity geophysical surveying,
establishing a work camp, and trail clearing have all been
submitted to the Saskatchewan Ministry of the Environment. The
Company is anticipating receiving the permits in Q4 2020 with
approval for gravity surveying to be received first as it is a
non-invasive geophysical technique with little to no impact on the
environment.
About the Shadow Property
Shadow encompasses ~42,000
hectares along the basement rocks of the VRSZ 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. The VRSZ is one of the most
prominent structural corridors in northern Saskatchewan, extending over a 250 km strike
and hosting four known uranium deposits, 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.
Regional Map of Baselode's Athabasca
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 40.5 million shares
outstanding.
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 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 Corp.
