Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) announced progress updates for its Bear and Catharsis uranium projects in the Athabasca Basin area, northern Saskatchewan.
The company has embarked on an inaugural drill program on Bear, which is approximately 30 kilometers south of the Key Lake uranium mill and 10 kilometers east of a haul road.
Baselode CEO James Sykes highlighted the attractive geology of the region, noting the identification of uranium mineralization with historic drilling and geophysical anomalies.
“The geology looks compelling, with an apparent regional structure hosting uranium mineralization already being identified with historic drilling and overlapping geophysical gravity low anomalies associated with bends in EM conductors,” Sykes said in a statement.
Baselode’s drill program at Bear will include 1,500 meters with up to eight drill holes. The program, supported by logistical groundwork already underway, is scheduled to have the drill crew on-site within two weeks.
The company aims to expedite drill targeting while minimizing environmental impact.
Additionally, Baselode completed a low altitude, high-resolution airborne radiometric and magnetic survey on Bear in March, with final results anticipated prior to the commencement of the drill program.
Regarding the Catharsis project, the second drill program, encompassing 11 drill holes totaling 2,837 meters across six target areas, is now complete, CEO Sykes said.
“We're encouraged by the results from three target areas, which require additional follow-up exploration,” the CEO added.
Similar to Bear, a low altitude, high-resolution airborne radiometric and magnetic survey was conducted on Catharsis in April.