Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) has announced positive findings from the final uranium assays of its 7,512-meter diamond drilling program at its Hook project, outside the ACKIO uranium prospect.
The company said its exploration unearthed new anomalous uranium in previously untested areas east of ACKIO, expanding the company's geological understanding of the broader Hook project, which shows "excellent potential" for additional deposits.
"The results from these preliminary exploration drill holes encourage us to further test the project-scale fertile structure that hosts ACKIO," Baselode president and CEO James Sykes commented in a statement.
"In addition to the Mirror and Sandstone targets, we will be drilling additional regional targets in 2024."
The two-year exploration effort since ACKIO's discovery has provided valuable insights into the geology of the region, Baselode Vice-President, Exploration & Development Cameron MacKay said.
"Like other basement-hosted deposits ACKIO is structurally controlled, but in our case, our controlling structures are not conductive and are related to normal faulting focused along lithology contacts," MacKay added.
"It is encouraging to see anomalous uranium values at lithology contacts east of ACKIO. Additionally, we have other targets on the Hook Project which have similar geophysical signatures to ACKIO."
The drilling program comprised 36 holes covering 7,512 meters, with ACKIO accounting for 30 holes, Mirror consisting of five holes, and one hole exploring a regional target. The Mirror target area produced encouraging results, with three drill holes intersecting elevated uranium that remains open in all direction.
Drill hole AK23-110, targeting the Sandstone area, displayed one of the most anomalous sandstone columns for uranium and other pathfinder elements. The Sandstone target holds significant potential for uranium mineralization, as evidenced by encouraging assay results.
Baselode's geochemical U3O8 assay results were provided by Saskatchewan Research Council's Geoanalytical Laboratory.
The ACKIO prospect, located 30 km southeast of established infrastructure, benefits from all-season road and powerline access. The exploration program prioritized minimizing environmental impacts through helicopter support.
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.