Baselode Energy Corp. Reports Additional High-Grade Uranium Intersections from ACKIO Discovery
TORONTO, Jan. 6, 2022 - 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
| NOTES: | |
| * Baselode considers "high-grade" to be uranium mineralization with a concentration greater than 0.5 wt% U3O8 | |
| 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. |
| TABLE 1: ACKIO TARGET, HOOK PROJECT - SUMMER 2021 DRILL HOLE U3O8 ASSAY RESULTS | ||||||||
| DDH | Target | Az* | Dip | EOH* (m) | Easting | Northing | Elevation | |
| AK21-02 | ACKIO | 270 | -85 | 42.0 | 526,245 | 6,372,955 | 468 | |
| Drill hole abandoned - No significant results | ||||||||
| AK21-02A | ACKIO | 270 | -85 | 357.0 | 526,245 | 6,372,955 | 468 | |
| No significant results | ||||||||
| AK21-03 | ACKIO | 270 | -48 | 360.0 | 526,245 | 6,372,955 | 468 | |
| From (m) | To (m) | Interval | **Vertical | U3O8 | ||||
| 128.60 | 134.10 | 5.50 | 90.00 | 0.24 | ||||
| includes | 131.60 | 132.10 | 0.50 | 95.00 | 0.67 | |||
| 142.60 | 143.60 | 1.00 | 115.00 | 0.06 | ||||
| 248.10 | 250.10 | 2.00 | 175.00 | 0.11 | ||||
| 267.40 | 267.90 | 0.50 | 185.00 | 0.06 | ||||
| 273.40 | 273.90 | 0.50 | 190.00 | 0.05 | ||||
| 277.40 | 278.40 | 1.00 | 200.00 | 0.06 | ||||
| 0.05 wt% U3O8 | 10.50 | 0.16 | ||||||
| AK21-04 | ACKIO | 270 | -90 | 381.0 | 526,139 | 6,372,955 | 467 | |
| From (m) | To (m) | Interval | **Vertical | U3O8 | ||||
| 95.50 | 96.50 | 1.00 | 95.00 | 0.17 | ||||
| 99.00 | 101.00 | 2.00 | 100.00 | 0.24 | ||||
| 103.50 | 104.00 | 0.50 | 105.00 | 0.05 | ||||
| 105.50 | 106.00 | 0.50 | 105.00 | 0.07 | ||||
| 168.00 | 169.00 | 1.00 | 170.00 | 0.08 | ||||
| 253.80 | 254.30 | 0.50 | 255.00 | 0.07 | ||||
| 0.05 wt% U3O8 | 5.50 | 0.15 | ||||||
| Results for AK21-01 were reported December 3, 2021. They are provided below for context | ||||||||
| DDH | Target | Az* | Dip | EOH* | Easting | Northing | Elevation | |
| AK21-01 | ACKIO | 270 | -60 | 471.0 | 526,245 | 6,372,955 | 467 | |
| From (m) | To (m) | Interval | **Vertical | U3O8 | ||||
| 126.80 | 128.80 | 2.00 | 110.00 | 0.05 | ||||
| 130.30 | 130.80 | 0.50 | 110.00 | 0.06 | ||||
| 134.30 | 149.80 | 15.50 | 115.00 | 0.13 | ||||
| includes | 138.80 | 139.30 | 0.50 | 120.00 | 1.29 | |||
| and | 142.30 | 142.80 | 0.50 | 120.00 | 0.66 | |||
| 284.60 | 285.80 | 1.20 | 245.00 | 0.06 | ||||
| 366.70 | 367.70 | 1.00 | 315.00 | 0.05 | ||||
| 368.80 | 369.20 | 0.40 | 315.00 | 0.06 | ||||
| Cut-off grade = 0.05 wt% U3O8, cut-off grade for AK21-01 = 0.045 wt% U3O8 | ||||||||
| Maximum consecutive internal dilution = 2.0 m down hole | ||||||||
| True widths have yet to be determined | ||||||||
| *"DDH" refers to "diamond drill hole", "Az" refers to "drill hole azimuth" and "EOH" refers to "End of Hole" | ||||||||
| "Easting", "Northing" are both measured in metres, NAD83 Datum, UTM Zone 13N | ||||||||
| "Elevation" is presented as "metres above sea level" | ||||||||
| **"Vertical Depth" is presented as "metres below surface", the value is rounded to the nearest 5.0 m | ||||||||
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.
Contact
Baselode Energy Corp., FIND on the TSXV, James Sykes, CEO, President and Director, jsykes@uraniumgeologist.com, 306-221-8717, www.baselode.com