TORONTO, Jan. 6, 2022 /CNW/ - Baselode Energy Corp. (TSXV:
FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is
pleased to report the final Uranium assay results from the recently
completed diamond drill program on the ACKIO Uranium discovery
("ACKIO"), Hook project ("Hook"), Athabasca Basin area, northern Saskatchewan.
Highlights include:
- A second drill hole confirms high-grade* Uranium at ACKIO;
0.67 wt% U3O8 over 0.5
m at 131.6 m in
AK21-03
- Elevated uranium concentrations of 0.24 wt%
U3O8 over 5.5 m
at 128.6 m in AK21-03 and 0.24 wt%
U3O8 over 2.0 m
at 99.0 m in AK21-04
- Multiple Uranium intersections occurring within 200 m of the surface
"We are very encouraged by intersecting near-surface, high-grade
Uranium mineralization in two drill holes from our first drill
program at the ACKIO discovery. The Uranium results from
drill holes AK21-01, AK21-03 and AK21-04 demonstrate that ACKIO is
part of a robust and fertile Uranium system, with multiple Uranium
occurrences intersected throughout the drill hole lengths.
Our main Uranium intersections from drill holes AK21-01 through
AK21-04 occur between 90 and 125 m
below surface and cover a lateral distance measuring approximately
45 m. Our follow-up drill
program is only weeks away and we're excited to see what we'll be
able to uncover," said James Sykes,
CEO, President and Director of Baselode.
The Company has prepared a quick video presentation for
shareholders and the public to learn more about these Uranium
results (see link below). Additional video presentations will
be released in the coming days and weeks to provide details
regarding the interpretation of massive alteration halo, the
structures observed at ACKIO, and other topics of interest relating
to ACKIO and Hook. Complete Ackio drill results are published in
Table 1, along with a cross-section in Figure 1 below.
VIEW BASELODE'S WEBINAR:
More Uranium Mineralization from Ackio
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NOTES:
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*
Baselode considers "high-grade" to be
uranium mineralization with a concentration greater than 0.5 wt%
U3O8
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1. All reported depths and
intervals are drill hole depths and intervals, unless otherwise
noted, and do not represent true thicknesses, which have yet to be
determined.
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TABLE 1: ACKIO
TARGET, HOOK PROJECT - SUMMER 2021 DRILL HOLE
U3O8 ASSAY RESULTS
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DDH
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Target
Area
|
Az*
|
Dip
|
EOH*
(m)
|
Easting
|
Northing
|
Elevation
|
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AK21-02
|
ACKIO
|
270
|
-85
|
42.0
|
526,245
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6,372,955
|
468
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Drill hole
abandoned - No significant results
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AK21-02A
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ACKIO
|
270
|
-85
|
357.0
|
526,245
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6,372,955
|
468
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|
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No significant
results
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AK21-03
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ACKIO
|
270
|
-48
|
360.0
|
526,245
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6,372,955
|
468
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From
(m)
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To
(m)
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Interval
(m)
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**Vertical
Depth (m)
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U3O8
(wt%)
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128.60
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134.10
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5.50
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90.00
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0.24
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includes
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131.60
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132.10
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0.50
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95.00
|
0.67
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142.60
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143.60
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1.00
|
115.00
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0.06
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248.10
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250.10
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2.00
|
175.00
|
0.11
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267.40
|
267.90
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0.50
|
185.00
|
0.06
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273.40
|
273.90
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0.50
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190.00
|
0.05
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277.40
|
278.40
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1.00
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200.00
|
0.06
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0.05 wt%
U3O8
Composite Total
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10.50
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0.16
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AK21-04
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ACKIO
|
270
|
-90
|
381.0
|
526,139
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6,372,955
|
467
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From
(m)
|
To
(m)
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Interval
(m)
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**Vertical
Depth (m)
|
U3O8
(wt%)
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95.50
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96.50
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1.00
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95.00
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0.17
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99.00
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101.00
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2.00
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100.00
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0.24
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103.50
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104.00
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0.50
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105.00
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0.05
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105.50
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106.00
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0.50
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105.00
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0.07
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168.00
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169.00
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1.00
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170.00
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0.08
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253.80
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254.30
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0.50
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255.00
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0.07
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0.05 wt%
U3O8
Composite Total
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5.50
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0.15
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Results for AK21-01
were reported December 3, 2021. They are provided below for
context
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DDH
|
Target
Area
|
Az*
|
Dip
|
EOH*
(m)
|
Easting
|
Northing
|
Elevation
|
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|
AK21-01
|
ACKIO
|
270
|
-60
|
471.0
|
526,245
|
6,372,955
|
467
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From
(m)
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To
(m)
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Interval
(m)
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**Vertical
Depth (m)
|
U3O8
(wt%)
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|
|
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126.80
|
128.80
|
2.00
|
110.00
|
0.05
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130.30
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130.80
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0.50
|
110.00
|
0.06
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134.30
|
149.80
|
15.50
|
115.00
|
0.13
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includes
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138.80
|
139.30
|
0.50
|
120.00
|
1.29
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and
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142.30
|
142.80
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0.50
|
120.00
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0.66
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284.60
|
285.80
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1.20
|
245.00
|
0.06
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366.70
|
367.70
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1.00
|
315.00
|
0.05
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368.80
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369.20
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0.40
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315.00
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0.06
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Cut-off grade = 0.05
wt% U3O8, cut-off grade for AK21-01 = 0.045
wt% U3O8
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Maximum consecutive
internal dilution = 2.0 m down hole
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True widths have yet
to be determined
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*"DDH" refers to
"diamond drill hole", "Az" refers to "drill hole azimuth" and "EOH"
refers to "End of Hole"
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"Easting", "Northing"
are both measured in metres, NAD83 Datum, UTM Zone 13N
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"Elevation" is
presented as "metres above sea level"
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**"Vertical Depth" is
presented as "metres below surface", the value is rounded to the
nearest 5.0 m
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CLICK HERE FOR FIGURE 1: Cross-section schematic for
drill holes AK21-01 to AK21-04
About Baselode Energy Corp.
Baselode currently 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.