Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) has revealed a new uranium prospect on its Hook project in the Athabasca Basin area of northern Saskatchewan.
One drill hole (HK24-010) intersected over 30 meters of continuous radioactivity at approximately 173 meters depth within a massive alteration corridor similar to that observed at the ACKIO zone, located six kilometres to the southwest.
“We believe the alteration corridor has mobilized uranium from the host rocks and deposited it within a redox front, similar to what we interpret for HK24-010,” Baselode CEO James Sykes said in a statement.
Baselode plans to follow-up drilling in the area after completing exploration drilling “in a logistically efficient order,” according to Sykes, on other targets with stronger geophysical anomalies. “Hook's regional exploration aim was to discover new zones of uranium mineralization and we're well on our way with this new prospect,” the CEO added.
Two drill holes targeted a coincident gravity low, magnetic low, and conductive response within an interpreted north-south oriented Tabbernor fault.
One intersected 130 meters of hydrothermal alteration with radioactivity averaging 20 counts per second (cps), and a peak of 177 cps over 4.3 meters. Another, HK24-010, intersected over 230 meters of similar alteration, with radioactivity averaging 23 cps down to 200.8 meters, followed by 275 cps over 33.7 meters, including 473 cps over 6.8 meters.
Hydrothermal hematite and redox alteration were found within the basal 2.5 meters, with fresh rocks averaging 60 cps, according to Baselode.