Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) told investors that additional assay results from the ACKIO high-grade uranium zone on its Hook project in Saskatchewan’s Athabasca Basin show that uranium mineralization, alteration, and structure all remain open at depth with no signs of fading.
Announcing the results from five more drill holes of the 7,512 metre (m) drilling program, the company highlighted 0.53% U3O8 (triuranium octoxide) over 0.5m within 0.11% U3O8 over 8.5m at 192.5m drill hole depth in AK23-92 (Pod 4).
Assays from the remaining 20 drill holes cover shallow mineralization in Pods 1 and 7, and exploration drillholes outside of the known ACKIO footprint, it added.
The company noted its recent statement which revealed that new mineralization in Pod 4 discovered at depth that remains open provides a high-priority drill target to follow up in 2024.
“Encouragingly, the results from AK23-92 suggest Pods 4 and 7 occur on the same east-dipping structure, extending from the overburden contact approximately 30m beneath the surface and remaining open below 200m,” Baselode Energy president and CEO James Sykes said.
“We are currently assessing if there is sufficient continuity of mineralization to link the two pods. Baselode is fully funded for an aggressive 2024 exploration program following the completion of our recent $10.7M financing.”
The company said it completed 36 drill holes during the program, including 30 at ACKIO for 6,193m, five at Mirror for 1.145m, and one drill hole on a regional exploration target for 174m.
Uranium assay results from the remaining twenty drill holes will be released after being compiled, thoroughly quality-checked, and interpreted by the technical team.
Baselode Energy controls 100% of about 264,172 hectares in the Athabasca Basin area in northern Saskatchewan. The company discovered the ACKIO near-surface, high-grade uranium deposit in September 2021.
Contact the author at stephen.gunnion@proactiveinvestors.com