Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) CEO Rebecca Hunter talked with Proactive about the company’s latest drilling results at the Aberdeen Project in Nunavut, specifically the Loki target.
Hunter explained that drilling at Loki has revealed the first uranium mineralization at the unconformity within the Thelon Basin.
The company drilled five holes at Loki this season, with four showing strong alteration and one intersecting weak uranium mineralization at the unconformity.
Hunter noted that this is significant as previous discoveries in the Thelon Basin were basement-hosted, unlike the unconformity-style deposits that are well known in the Athabasca Basin.
Proactive: All right, welcome back inside our Proactive newsroom. And joining me now is Rebecca Hunter. She is the CEO of Baselode Energy Corp. And Rebecca, it’s good to see you. How are you?
Rebecca Hunter: Very good. And it’s great to see you.
So, exciting news from the company yesterday in regards to your Aberdeen project in Nunavut and, more specifically, at one particular area of that project. I’ll let you take it from there, because this is really unique stuff that we’re talking about.
Yeah. So it’s exciting to get some news out on our project here. We’ve been drilling now for about a month and a half. And the press release is really highlighting our Loki target. This year we’ve done a lot of blue sky targeting, and Loki is one of our main ones.
It’s a really large gravity anomaly. That’s one of the ways we hone in on these deposits geophysically. It’s about a four kilometre by one kilometre long trend that we’re exploring. We’ve got a couple of holes into it historically, and last year showed some exciting results. We wanted to go back. It showed bleaching and clay, the things we look for in unconformity deposits.
So we went back this year. What’s really encouraging, what’s really exciting, is that we had five holes so far, four of which have really good alteration, and one of which has weak mineralization at the unconformity. This is a first for the Northeast Thelon project. It’s the first time uranium mineralization has been intersected at the unconformity in the sandstone. That’s pretty key.
Yeah. And in the news release you talk about the relation to the Athabasca Basin, which we see a lot of. This is the first time you’ve seen it in this area. I imagine that’s exciting for the project in general, when you’re seeing similarities to such a famous area.
Exactly. In the Athabasca Basin, which is prolific, you have unconformity deposits. In the Thelon to date, all the mineralization has been basement-hosted. That’s why this is a bit of a game changer. As Baselode, we want to find these types of deposits at the unconformity. At Loki, we now have evidence that it exists.
So how do you move forward now? This is a big one. Do you stick to where that hole was or what’s the plan for the drill program?
Our drill program is testing numerous trends. But yes, we’re going back to Loki and following up that mineralization to see if there’s a much larger system. The holes also show alteration that’s never been seen before. The whole sandstone column is bleached white. It’s full of faults. It’s the most exciting thing we’ve ever seen in this part of the world, for sure.
And lastly, Rebecca, with the Athabasca Basin there’s a lot of talk about North American uranium. Where you are now, it really opens up a bigger market overseas as well. Are you getting those types of questions from people off news like this?
Yeah. I’m certainly getting questions. But our big driver is for Baselode, and for the new company that will become Geiger, to find another uranium district. We think it’s going to be the Thelon Basin.
Quotes have been lightly edited for clarity and style