OTCWagon Issues Update on: Baselode Energy Corp. (FIND)
BASELODE INTERSECTS MULTIPLE ZONES OF ELEVATED RADIOACTIVITY IN TWO NEW HOLES AT HOOK URANIUM PROJECT
Baselode Energy Corp. has intersected numerous intervals of elevated radioactivity within two new diamond drill holes at the Ackio target on its Hook uranium project, Athabasca basin area, Northern Saskatchewan. Baselode's Hook is 100 per cent owned with no royalties.
"Drilling at Ackio has continued to produce exciting results with high levels of radioactivity over wide intersections. These intersections are hosted within large alteration envelopes with visible uranium mineralization within 100 metres of true vertical depth. The system we've observed on Hook exhibits many features analagous with known Athabasca basin deposits. Within the drill core we see evidence of numerous, brittle, reactivated structures with multiple, overprinting fluid events, which is the right environment for uranium deposition. The alteration and structures observed in both the basement rocks and Athabasca sandstones suggest we could be close to a major fault zone that may have acted as a primary uranium fluid carrier," said James Sykes, chief executive officer and president of Baselode.
Future exploration plans for Hook
Due to waning logistical efficiencies with limited and lessening daylight hours, Baselode has concluded this current drill program. Planning for Hook's follow-up winter drill program is already in progress with the company anticipating a two-drill supported, 10,000-metre drill program during the winter months of 2022 (January/February)
The Ackio drill holes are located approximately 450 m southeast from the recent discovery drill hole (GEM-004) by 92 Energy within its adjacent Gemini mineralized zone (GMZ). Baselode believes that these two discovery zones are part of the same widespread and fertile system for uranium mineralization that remain open for drilling in all directions.
The Ackio-GMZ area is located 30 kilometres southeast of well- established infrastructure, including an all-season road and power line that runs between Cameco Corp.'s and Orano's McArthur River mine and Key Lake uranium mill joint ventures. The Ackio-GMZ area is 70 kilometres northeast of the Key Lake mill.
John, IT Staff