Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) has started a new diamond drilling program at the ACKIO uranium prospect within the Hook project in the Athabasca Basin area of northern Saskatchewan.
CEO James Sykes told shareholders that the company is excited to be back at its flagship project, where it will be looking to expand upon its near-surface uranium discovery.
“Hook is such a fertile uranium corridor that we've shown hosts high-grade uranium fluids, and we will test numerous high-priority exploration targets that could support our understanding of Hook,” Sykes said in a statement.
Baselode plans up to 12,000 meters of drilling at ACKIO, targeting several key areas. The southeast zone, where geophysical survey results suggest an east/southeast-west/northwest structural trend; unconformity-style mineralization along the Athabasca sandstone structural contact to the southeast, and the depth of mineralized structures based on geochemical trends and alteration pathways.
The regional Hook exploration drill program will encompass up to 4,000 meters with 15 to 20 drill holes targeting different areas identified using recent results from ground gravity and ANT geophysical surveys.
The program is scheduled to begin at the end of June.
Following the completion of Hook exploration drilling, the rig will join the ACKIO program.
Sykes also highlighted promising results from the Catharsis project, where drill holes revealed significant uranium potential along a five kilometre corridor between target areas D and G. F
Five of the six drill holes intersected uranium concentrations above background levels within 5 to 25-meter-thick zones of structurally-controlled, hydrothermal redox-style alterations.
"These characteristics indicate uranium-bearing fluids were mobile along the D/G corridor," said Sykes. "These are some of the most encouraging exploration results I've encountered in my 18-year Athabasca uranium career."
At the Bear project, drilling focused on coincident EM and gravity anomalies, with promising hydrothermal alteration encountered in all drill holes tested in Target Area 1.
The company has plans for further ground-based geophysics and additional diamond drilling to follow up on early results.