Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) said it plans an expansion of its drill program at the Catharsis uranium project after promising early results included intersections of anomalous radioactivity similar to other uranium deposits.
Drilling will be extended to 4,000 metres, the Toronto-based company said, following the discovery of anomalous radioactivity within a structural corridor indicating potential similarities with other high-grade uranium deposits.
Chief executive officer James Sykes expressed optimism about these findings, which include quartz-hematite oxidized fluid systems and clay alteration characteristics, leading to an increased exploration scope.
The drilling program aims to explore additional target areas for near-surface, high-grade uranium deposits.
Initial drilling, encompassing three holes over 721 metres, revealed significant radioactivity and alteration styles associated with uranium deposits.
A forthcoming high-resolution airborne magnetic and radiometric survey will further support the exploration efforts.
"We will continue drilling the target area down-dip of the radioactivity, and along strike from it. We are encouraged by the results and have decided to increase our program," said Sykes. "We will drill more target areas than previously announced to test for near-surface, high-grade uranium deposits."
The Catharsis project is 100% owned by Baselode Energy with no underlying royalties.
Catharsis is on geological strike with the world’s largest and most-productive high-grade uranium district, the Wollaston and Mudjatik domains.