Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) said it is prepping for a new drill program at its Catharsis uranium project in Saskatchewan’s Athabasca Uranium (TSX-V:UAX) district.
The company plans to drill eight to 10 holes covering a distance of 2,000 meters within four to five different untested target areas.
All necessary support staff and equipment, including diamond drills and helicopters, are already on site, and the program has received the required permits for commencement, according to a release from Baselode.
CEO James Sykes told investors that the company has completed extensive work to define Tier 1 target areas that share characteristics with other world-class basement-hosted Athabasca uranium deposits, such as NexGen Energy’s Arrow and Denison Mines’ Gryphon deposits.
“The Catharsis drill program is ready to start, and our focus is to fast-track discovery by drilling multiple target areas with helicopter support,” Sykes said in a statement.
In addition to the drill program, Baselode is undertaking logistics support for a high-resolution airborne magnetic and radiometric survey covering over 10,000 line-km. The survey, with flight lines spaced 50 meters apart, aims to enhance the company's understanding of the geological features and potential mineralization zones within the project area.