TORONTO, Oct. 27,
2022 /CNW/ - Baselode Energy Corp. (TSXV: FIND)
(OTCQB: BSENF) ("Baselode" or the "Company") is
pleased to announce exploration plans for the year 2023 on the
ACKIO/Hook, Catharsis and Shadow projects, in the Athabasca Basin area (the "Athabasca"), northern Saskatchewan.
Baselode's drilling and exploration plans include:
ACKIO Definition and Expansion (April to October)
- 20,000 m of diamond drilling with
an estimated 87 drill holes expanding near-surface, high-grade
uranium zones.
ACKIO Exploration (May to July)
- 5,000 m of diamond drilling with
an estimated 16 drill holes exploring structural interpretations
for more uranium mineralization within a 1 km radius of ACKIO
(Figure 1).
Catharsis (January to March)
- 2,500 m of diamond drilling with
an estimated 12 drill holes covering four target areas defined with
coincident airborne geophysical anomalies and areas of interest
identified during ground reconnaissance exploration in 2021 (Figure
3).
Hook Exploration (July to September)
- 5,000 m of diamond drilling with
an estimated 16 drill holes exploring four target areas defined
with coincident airborne geophysical anomalies (Figure 2).
Shadow (June to August)
- 2,000 km airborne geophysical survey.
"2023 is going to be a busy year for Baselode. We have over
30,000 metres of drilling planned over 10 months of the year.
Expanding ACKIO's high-grade mineralized zones is our top priority,
where we'll focus on delineating additional near-surface
mineralization. Our understanding of the structural system hosting
ACKIO suggests the area within a 1 km radius is prospective for
other zones of mineralization. Therefore, exploration for new
near-surface mineralization also remains a high priority.
Accordingly, we are planning additional 2,500 m and 5,000 m
reconnaissance drill programs for both Catharsis and Hook projects,
respectively, with targets generated using the same technical
evaluation that supported the ACKIO discovery. Similarly, these
targets will be testing for the same style of near-surface,
high-grade uranium mineralization as our ACKIO discovery, an
evolving Athabasca 2.0 exploration
model proof of concept," said James
Sykes, CEO and President of Baselode.
Cameron MacKay, Vice-President,
Exploration & Development comments "We discovered uranium
mineralization at ACKIO where north-south structures have developed
within a region where the dominant fabric is northeast trending.
The north-south fabric at ACKIO coincides with a prominent gravity
low anomaly. We have multiple targets that mirror these coincident
geophysical observations on both the ACKIO-GMZ Trend and the
Tabbernor Trend. Our Catharsis targets are along the southern
extension of the highly uranium-fertile Key Lake Trend. We've
interpreted structural flexures along this Trend that could be
conducive to produce dilation which in turn could draw in
uranium-bearing fluids during structural re-activation. These
target areas have overlapping gravity, magnetic and EM anomalies
making them highly attractive exploration targets."
The planned drill programs for both ACKIO and Hook are permitted
with the Saskatchewan Ministry of Environment (the
"Ministry") until December 31,
2023. A permit application for the Catharsis drill program
has been submitted to the Ministry.
The Company will be preparing a video to follow-up this news
release with more detailed information regarding the target areas
and drill plan for ACKIO. Project updates will be provided as
new milestones are achieved.
About ACKIO
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 28 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.
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 focuses on discovering near-surface,
basement-hosted, high-grade uranium orebodies outside 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."
For further information, please contact:
Baselode Energy Corp.
FIND on the TSXV
info@baselode.com
www.baselode.com
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.
