Baselode Energy (TSXV: FIND; OTC: BSENF) has announced geochemical assay results for AK22-069, the latest and best hole to date from its now-complete 22,500-metre diamond drill program on the Ackio uranium discovery, intersecting 0.9% uranium oxide (U3O8) over 31 metres starting at 69.3 metres true vertical depth.
The reported intersection includes 1.86% U3O8 over 12.5 metres at 79.7 metres true vertical depth, including the project's highest individual assay of 5.61% U3O8 over 0.5 metre.
"Hole 069 was drilled down-dip of holes AK22-051 (0.50% U3O8 over 28.9 metres) and AK22-052 (0.58% U3O8 over 27.6 metres), which both intersected uranium mineralization at the overburden-basement contact, i.e., as shallow as possible at Ackio. The reported intercept from hole 069 has exceeded the results from both of those drill holes and confirms near-surface, high-grade mineralization is continuous and more concentrated at depth, and still within 100 metres of surface," said James Sykes, Baselode president and CEO.
Results so far point toward potential for an open pit mine. Assays from 18 holes drilled this year are still pending. Drilling will continue next year in the same zone at Ackio next year.
Ackio represents a high-grade uranium discovery hosted on Baselode's 100% owned Hook project located in the Athabasca Basin area of northern Saskatchewan. It measures greater than 375 metres along strike and 150 metres wide, comprising at least five separate zones, with mineralization starting as shallow as 28 metres beneath the surface and down to approximately 300 metres in depth.
The discovery, which was made in September 2021, is 30 km southeast of well-established infrastructure, including an all-season road and powerline between the McArthur River mine and the Key Lake mill joint ventures belonging to Cameco and Orano.
Additional details can be found at www.baselode.com.
November 4, 2024
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