Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) has reported encouraging assay results from three of 43 drill holes from its 2024 program at the ACKIO uranium prospect in Saskatchewan’s Athabasca Basin.
Two drill holes, AK24-118 and AK24-119, intersected notable uranium mineralization.
AK24-119 returned 0.28% U₃O₈ (uranium) over 21 meters, including a high-grade segment of 1.55% U₃O₈ over 1.5 meters, while AK24-118 delivered 0.59% U₃O₈ over 8.5 meters.
These results improve the mineralization profile of Pod 6 and highlight the shallow depth of ACKIO’s uranium deposits, distinguishing it from deeper deposits elsewhere in the region.
"Baselode's ACKIO prospect stands out among its peers due to the shallow depth of its mineralization, especially compared to the much deeper deposits elsewhere in the basin,” Baselode Energy CEO James Sykes commented.
“We are highly encouraged by the results from holes AK24-118 and AK24-119, as they are the best intersections in Pod 6 and rank among the top 20 drill holes at ACKIO.
“These results strengthen our confidence in ACKIO. It's remarkable that, just over three years after discovering ACKIO, we're still achieving better-than-expected grades and widths.”
Assay results from an additional 40 drill holes from the ACKIO and Hook drill programs are pending.
Investors welcomed the update, sending shares of Baselode Energy 8.3% higher to C$0.13 in early trade on Thursday.