Baselode Hits More Shallow Radioactivity, Extends Uranium Mineralization Footprint at Hook
- High levels of radioactivity and multiple intersections of >10,000 cps in AK23-102 within 2,271 cps* over 16.0 m starting at 120 metres from surface
- ACKIO growth: AK23-102 extends mineralization in Pod 7 by 50 metres (~
50% strike length growth) with mineralization open along strike
- Near Surface: Eight of nine holes with radioactivity starting within 100 m from surface
Toronto, Ontario--(Newsfile Corp. - August 8, 2023) - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide an update of the diamond drilling program (the "Program") on the ACKIO high-grade uranium zone ("ACKIO") on the Hook project ("Hook" or the "Project") (see Figures 1 to 3 and Table 1).
"We are impressed with these results that extend ACKIO's near-surface mineralization along with higher levels of radioactivity. Pod 7 has grown along strike and at depth with higher radioactivity. In particular, hole AK23-102 has some of the highest radioactivity encountered at ACKIO, and mineralization remains open along strike," said James Sykes, CEO, President and Director of Baselode.
ACKIO Drill Program Update
24 drill holes (AK23-081 to AK23-104) in 4,875 metres ("m") have been completed at ACKIO to date (Figure 1, Table 1). The Program continues to drill but has now shifted to near-ACKIO reconnaissance exploration drilling while ACKIO is remodeled with new results.
Four of the reported drill holes (AK23-096, AK23-098, AK23-099, and AK23-102) have over 15 m of composite radioactivity occurring within Pods 1 and 7. In particular, drill holes AK23-098, AK23-099 and AK23-102 have expanded mineralization modeled previously in Pod 7 by at least 50 m to the north and at depth (Figure 2).
Eight of nine reported drill holes (excluding AK23-100) all had mineralization starting shallower than 100 m from surface, with three drill holes intersecting mineralization shallower than 50 m from surface (AK23-096, AK23-098, and AK23-104). Mineralization in AK23-098 starts immediately at the overburden base, expanding the near-surface mineralization footprint in Pod 1.
High levels of radioactivity (>5,000 cps*) were reported in drill holes AK23-096, AK23-099, and AK23-102 confirming multiple lenses of higher concentrations of uranium mineralization are present within multiple Pods at ACKIO (Figure 3). Drill hole AK23-102 expanded high levels of radioactivity by 50 m to the north of Pod 7 and remains open along strike (Figures 1 and 2).
ACKIO/Hook 2023 Summer Drill Program Details
The ACKIO delineation and expansion part of the Program focuses on the shallowest and/or the highest-grade uranium intersections defined in last years 22,500 metre drill campaign. Drill collars have been planned to optimize the allocated metres by intersecting multiple zones of mineralization from the same setups and limiting drill holes to specific stopping depths.
NOTES:
- cps* = "counts-per-second", as measured with a handheld RS-125 Gamma-Ray Spectrometer/Scintillometer. The reader is cautioned that Baselode uses scintillometer readings as a preliminary indication of the presence of radioactive materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly to quantify or qualify uranium concentrations of the rock samples measured.
- The Company considers all RS-125 readings greater than 300 cps to be considered elevated radioactivity, with background radioactivity measuring between 50 to 100 cps.
- "continuous composite elevated radioactivity" means the sum of drill core length with greater than or equal to 300 cps with a maximum 2.0 m of consecutive drill hole length measuring less than 300 cps as dilution.
- All reported drill hole intervals are drill core lengths and do not represent true thicknesses which have yet to be determined.
About Baselode Energy Corp.
Baselode controls
The Company discovered the ACKIO near-surface, high-grade uranium deposit in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 11 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 120 m. ACKIO remains open to the west, north, south, and along the Athabasca sandstone unconformity to the east and south.
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
James Sykes, CEO, President and Director
jsykes@oregroup.ca
306-221-8717
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.
FIGURE 1 - Surface projections of modeled ACKIO uranium mineralization
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FIGURE 2 - Cross-Section with Drill Holes AK23-102 to AK23-104
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FIGURE 3 - Cross-Section with Drill Holes AK23-095 & AK23-096
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TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from drill holes AK23-096 to AK23-104
| DDH | Target Area | Location | East | North | Elevation | Az. | Dip | EOH | Radioactivity (>300 cps) | Assay Results (>0.05 wt% U3O8) | |
| AK23-96 | ACKIO | Pod 1 - Centre | 526119 | 6372952 | 464 | 273 | -67 | 210 | 788 cps over 24.55 m at 54.0 m1 | Assay results pending | |
| includes | 5,500 cps over 0.05 m at 62.35 m | Assay results pending | |||||||||
| 500 cps over 0.15 m at 84.5 m | Assay results pending | ||||||||||
| 316 cps over 0.5 m at 87.0 m | Assay results pending | ||||||||||
| 300 cps over 0.1 m at 88.0 m | Assay results pending | ||||||||||
| 300 cps over 0.4 m at 91.1 m | Assay results pending | ||||||||||
| 1,031 cps over 3.0 m at 93.35 m2 | Assay results pending | ||||||||||
| Pod 7 - Centre | 485 cps over 6.85 m at 153.1 m | Assay results pending | |||||||||
| 441 cps over 2.75 m at 162.0 m | Assay results pending | ||||||||||
| 2,680 cps over 0.6 m at 167.75 m | Assay results pending | ||||||||||
| includes | 7,822 cps over 0.2 m at 167.8 m | Assay results pending | |||||||||
| 1,008 cps over 2.5 m at 170.6 m | Assay results pending | ||||||||||
| includes | 7,850 cps over 0.05 m at 173.0 m | Assay results pending | |||||||||
| 886 cps over 2.4 m at 179.6 m | Assay results pending | ||||||||||
| includes | 7,500 cps over 0.05 m at 179.7 m | Assay results pending | |||||||||
| and includes | 9,000 cps over 0.1 m at 179.85 m | Assay results pending | |||||||||
| 386 cps over 0.8 m at 184.65 m | Assay results pending | ||||||||||
| AK23-97 | ACKIO | Pods 1 and 2 - Edge | 526119 | 6372952 | 464 | 272 | -80 | 141 | 310 cps over 0.25 m at 101.5 m | Assay results pending | |
| 315 cps over 0.2 m at 102.4 m | Assay results pending | ||||||||||
| 300 cps over 0.3 m at 109.5 m | Assay results pending | ||||||||||
| 350 cps over 0.25 m at 111.25 m | Assay results pending | ||||||||||
| AK23-98 | ACKIO | Pod 1 - Centre | 526100 | 6373006 | 465 | 270 | -50 | 164 | 500 cps over 0.25 m at 46.2 m | Assay results pending | |
| 491 cps over 0.55 m at 51.5 m | Assay results pending | ||||||||||
| 511 cps over 10.7 m at 55.3 m | Assay results pending | ||||||||||
| 426 cps over 0.75 m at 83.25 m | Assay results pending | ||||||||||
| 350 cps over 0.15 m at 97.05 m | Assay results pending | ||||||||||
| 330 cps over 0.15 m at 104.55 m | Assay results pending | ||||||||||
| 370 cps over 0.15 m at 114.4 m | Assay results pending | ||||||||||
| 502 cps over 0.5 m at 118.6 m | Assay results pending | ||||||||||
| Pod 7 - Edge | 355 cps over 1.4 m at 125.6 m | Assay results pending | |||||||||
| 453 cps over 13.05 m at 131.75 m | Assay results pending | ||||||||||
| AK23-99 | ACKIO | Pod 1 - Centre | 526100 | 6373006 | 465 | 271 | -68 | 201 | 643 cps over 14.9 m at 71.05 m | Assay results pending | |
| includes | 6,500 cps over 0.1 m at 81.9 m | Assay results pending | |||||||||
| 350 cps over 0.1 m at 120.65 m | Assay results pending | ||||||||||
| 501 cps over 0.2 m at 126.5 m | Assay results pending | ||||||||||
| 350 cps over 0.25 m at 156.45 m | Assay results pending | ||||||||||
| Pod 7 - Edge | 530 cps over 3.05 m at 160.65 m | Assay results pending | |||||||||
| 350 cps over 0.2 m at 174.05 m | Assay results pending | ||||||||||
| AK23-100 | ACKIO | Pod 2 - Edge | 526078 | 6372984 | 464 | 81 | -59 | 177 | 488 cps over 4.9 m at 131.5 m | Assay results pending | |
| AK23-101 | ACKIO | 526078 | 6372984 | 464 | 103 | -60 | 171 | 300 cps over 0.15 m at 113.65 m | Assay results pending | ||
| Pod 2 - Centre | 548 cps over 3.7 m at 118.9 m | Assay results pending | |||||||||
| 350 cps over 0.65 m at 137.35 m | Assay results pending | ||||||||||
| 300 cps over 0.2 m at 139.8 m | Assay results pending | ||||||||||
| 365 cps over 0.5 m at 142.25 m | Assay results pending | ||||||||||
| 519 cps over 5.1 m at 151.6 m | Assay results pending | ||||||||||
| AK23-102 | ACKIO | Pod 1 - Edge | 526093 | 6373050 | 462 | 270 | -50 | 210 | 350 cps over 0.25 m at 84.15 m | Assay results pending | |
| 300 cps over 0.1 m at 109.05 m | Assay results pending | ||||||||||
| 300 cps over 0.15 m at 123.6 m | Assay results pending | ||||||||||
| 450 cps over 0.2 m at 124.8 m | Assay results pending | ||||||||||
| 350 cps over 0.2 m at 127.05 m | Assay results pending | ||||||||||
| 400 cps over 0.2 m at 128.0 m | Assay results pending | ||||||||||
| Pod 7 - Expansion | 2,271 cps over 16.0 m at 155.85 m | Assay results pending | |||||||||
| includes | 6,000 cps over 0.2 m at 160.4 m | Assay results pending | |||||||||
| and includes | 14,000 cps over 0.1 m at 161.05 m | Assay results pending | |||||||||
| and includes | 13,000 cps over 0.1 m at 161.9 m | Assay results pending | |||||||||
| and includes | 6,700 cps over 0.1 m at 162.45 m | Assay results pending | |||||||||
| and includes | 5,446 cps over 3.55 m at 164.7 m | Assay results pending | |||||||||
| AK23-103 | ACKIO | Pod 1 - Edge | 526093 | 6373050 | 462 | 270 | -57 | 204 | 330 cps over 0.15 m at 107.2 m | Assay results pending | |
| 300 cps over 0.15 m at 120.55 m | Assay results pending | ||||||||||
| 327 cps over 0.25 m at 142.15 m | Assay results pending | ||||||||||
| Pod 7 - Expansion | 310 cps over 0.15 m at 154.5 m | Assay results pending | |||||||||
| 400 cps over 0.4 m at 156.9 m | Assay results pending | ||||||||||
| 370 cps over 0.3 m at 158.0 m | Assay results pending | ||||||||||
| 300 cps over 0.25 m at 164.65 m | Assay results pending | ||||||||||
| 730 cps over 0.25 m at 177.55 m | Assay results pending | ||||||||||
| AK23-104 | ACKIO | Pod 1 - Edge | 526093 | 6373050 | 462 | 270 | -45 | 183 | 452 cps over 3.35 m at 63.95 m | Assay results pending | |
| 450 cps over 0.1 m at 69.35 m | Assay results pending | ||||||||||
| 320 cps over 0.5 m at 82.1 m | Assay results pending | ||||||||||
| 320 cps over 0.25 m at 87.55 m | Assay results pending | ||||||||||
| Pod 7 - Expansion | 500 cps over 0.15 m at 142.45 m | Assay results pending | |||||||||
| 9 DDH | 1,661 | 9 DDH | 0 DDH | ||||||||
| NOTES: East and North units are metres using NAD83 datum, UTM Zone 13N | |||||||||||
| Elevation is recorded as "metres above sea level" | |||||||||||
| Az. = Azimuth, EOH = End of hole (measured in metres) | |||||||||||
| Composite radioactivity results use 300 cps cut-off and do not contain greater than 2.0 m consecutive dilution | |||||||||||
| "includes", "and includes" are composite radioactivity results using 5,000 cps cut-off and do not contain greater than 2.0 m consecutive dilution | |||||||||||
| 1 - includes 1.5 m lost core over interval length | |||||||||||
| 2 - includes 0.4 m lost core over interval length | |||||||||||
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/176371
