- · AK22-032: 0.55% U3O8 over
13.2 m at 136.0 m true vertical depth includes 0.99%
U3O8 over 6.3
m
- · AK22-011: 0.69% U3O8 over
3.6 m at 144.6
m true vertical depth includes 1.26%
U3O8 over 0.5
m
- · AK22-009: 0.28% U3O8 over
10.5 m at 107.6 m true vertical depth includes 0.51%
U3O8 over 2.0
m
- · Of the reported drill holes, five confirm high-grade
uranium mineralization in excess of 0.5% U3O8
and eight intersected uranium mineralization at less than 200
metres below surface
- · 8 of the 44 drill holes that intersected elevated
radioactivity are now reported
TORONTO, Aug. 22,
2022 /CNW/ - Baselode Energy Corp. (TSXV: FIND)
(OTCQB: BSENF) ("Baselode" or the "Company") is
pleased to announce the geochemical assay results from twenty-one
drill holes of the now-complete 2022 diamond drill program (the
"Program") on the ACKIO high-grade uranium discovery
("ACKIO"), Hook project, Athabasca Basin area (the "Basin"),
northern Saskatchewan (see Table 1
and Figure 1).
"We're very happy to be releasing the first set of uranium assay
results from this years 22,485 metre drill program on ACKIO.
These results are better than we had anticipated. We're
seeing a lot of mineralization in these early Program drill holes
that exceed the results from our discovery drill program last
year. Five of our drill holes intersected mineralization
exceeding 10 metres in core length, and a few drill holes have
multiple intercepts. These are significant as they
demonstrate a thick, robust, and multi-layered deposit. The
mineralization reported herein is shallow, within 100 to 200 metres
true vertical depth from the surface. We're confirming grades
and other characteristics at ACKIO that are similar to historically
mined open pit deposits in the Basin area. We are excited for
the assays from the remaining thirty-six drill holes with elevated
radioactivity to be received as we believe they will continue to
highlight excellent U3O8 assay results from
shallower depths intersected at ACKIO," said James Sykes, CEO, President and Director of
Baselode.
The Company has prepared a video (see link below) that
discusses:
- How to understand these ACKIO assay results in context of
typical high-grade uranium Athabasca deposits versus historic low-grade
uranium Athabasca mines and other
global uranium operations
VIEW BASELODE'S WEBINAR DETAILING THE
FIRST SET OF ASSAY RESULTS FROM THE 2022 DRILL PROGRAM
Drill hole highlights from this news release include;
- AK22-008: 0.11% U3O8 over
8.0 m at 175.65 m (124.2 m
true vertical depth)
- AK22-009: 0.28% U3O8 over
10.5 m at 136.6 m (107.6 m
true vertical depth) includes
-
- 0.51% U3O8 over 2.0 m at 137.1 m
and
- 1.32% U3O8 over 0.5 m at 144.6
m
- AK22-011: 0.69% U3O8 over
3.6 m at 204.2
m (144.6 m true vertical
depth) (NOTE: includes 2.1 m core
loss over interval) includes
-
- 1.26% U3O8 over 0.5 m at 206.8
m
- 0.17% U3O8 over 13.85 m at 214.0 m
(151.3 m true vertical depth)
includes
- 0.59% U3O8 over 0.5 m at 214.0 m
and
- 1.14% U3O8 over 0.5 m at 217.1
m
- AK22-023: 0.23% U3O8 over
13.5 m at 208.0 m (147.1 m
true vertical depth) includes
-
- 0.72% U3O8 over 1.5 m at 218.0
m
- 0.21% U3O8 over 16.0 m at 234.5 m
(165.8 m true vertical depth)
includes
- 0.83% U3O8 over 1.0 m at 248.0
m
- AK22-025: 0.19% U3O8 over
4.9 m at 152.5
m (132.1 m true vertical
depth)
-
- 0.23% U3O8 over 13.2 m at 213.5 m
(184.9 m true vertical depth)
includes
- 0.86% U3O8 over 1.5 m at 218.5
m
- AK22-032: 0.55% U3O8 over
13.2 m at 192.35 m (136.0 m
true vertical depth) includes
-
- 0.99% U3O8 over 6.3 m at 196.0
m
Baselode started the Program on February
9, 2022 (see Company News Release) and completed the Program
on August 2, 2022, with 78 drill
holes (AK22-005 to AK22-080, and HK22-007), including one abandoned
drill hole, for a total of 22,485.85
m (see Figure 1). Forty-four of seventy-six drill holes at
ACKIO have intersected elevated radioactivity. A complete list of
drill hole collar information, hand-held scintillometer
radioactivity composite measurements, and
U3O8 composite assay results for the
twenty-one drill holes reported in this news release (AK22-005 to
AK22-011, and AK22-020 to AK22-033) are provided in Table
1.
Geochemical U3O8 assay results from these
twenty-one reported drill holes were provided by Saskatchewan
Research Council's Geoanalytical Laboratory ("SRC") in
Saskatoon, Saskatchewan. The
assay methodology includes SRCs "U3O8 Wt%
Assay" analysis package where an aliquot of sample pulp is digested
in a concentration of HCL:HNO3. The digested
volume is then made up with deionized water for analysis by
ICP-OES. Uranium assay results from the remaining fifty-seven
drill holes will be released as they are received from SRC and
after being compiled and thoroughly checked by the technical
team.
ACKIO measures greater than 375 m
along strike, greater than 150 m
wide, comprised of at least 5 separate zones, with mineralization
starting as shallow as 25 m beneath
the surface and down to approximately 300
m depth beneath the surface with the bulk of mineralization
occurring in the upper 200 m.
ACKIO remains open to the west, south, and along the Athabasca sandstone unconformity to the east
and south.
ACKIO is 30 km southeast of well-established infrastructure,
including an all-season road and powerline between Cameco Corp.'s
(TSX: CCO) and Orano's McArthur
River mine and Key Lake uranium mill joint ventures. ACKIO
is 70 km northeast of the Key Lake mill. The Program was
helicopter-supported to lessen any ground-induced environmental
impacts within the project area.
NOTES:
|
1. All reported drill hole
lengths do not represent true thicknesses which have yet to be
determined.
|
About Baselode Energy
Corp.
Baselode controls 100% of approximately 227,000 hectares for
exploration in the Athabasca Basin
area, northern Saskatchewan,
Canada. The land package is free of any option agreements or
underlying royalties.
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 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."
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.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.