Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) shared its upcoming uranium drilling and exploration plans which will involve drilling over 30,000 meters in 10 months next year.
On Thursday, the Toronto-based firm announced its five drilling and exploration plans in the uranium-rich Athabasca Basin in northern Saskatchewan.
Baselode controls 227,000 hectares in the Athabasca Basin area which has a concentrated source of high-grade uranium and provides for 20 per cent of all uranium worldwide.
The company’s plans include exploring ACKIO which is 70 kilometers northeast of the Key Lake mill.
The first plan will begin in May-July next year with ACKIO’s definition and expansion involving 20,000 meters of diamond drilling with 87 drill holes while a second project involves its exploration of 5,000 meters of drilling with 16 holes from May to July.
The third plan Catharsis will go from January-March and involves 2,500 meters of diamond drilling with 12 drill holes in four target areas identified during ground exploration last year. The last two include Hook Exploration which will drill 5,000 meters with 16 holes in four target areas and Shadow involves a 2,000-kilometer geophysical survey from June to August.
The planned drill programs for both ACKIO and Hook are permitted by the Saskatchewan Ministry of Environment until Dec. 31 next year. A permit application for the Catharsis drill program has been submitted to the Ministry.
Read more: Traction Uranium inks service agreement with Saskatchewan Research Council
Read more: Canada investing in new ‘non-emitting’ nuclear power technologies: Minister of Natural Resources
“Expanding ACKIO’s high-grade mineralized zones is our top priority, where we’ll focus on delineating additional near-surface mineralization. Our understanding of the structural system hosting ACKIO suggests the area within a 1 km radius is prospective for other zones of mineralization,” Baselode CEO James Sykes said.
Sykes added that exploration for new near-surface mineralization also remains a high priority and the company is planning other drill programs for Catharsis and Hook Accordingly, we are planning additional 2,500 m and 5,000 m reconnaissance drill programs for both Catharsis and Hook.
Vice-President, of Exploration and Development Cameron MacKay said the company discovered uranium mineralization at ACKIO where north-south structures have developed within a region where the dominant fabric is northeast trending.
“The north-south fabric at ACKIO coincides with a prominent gravity-low anomaly. We have multiple targets that mirror these coincident geophysical observations on both the ACKIO-GMZ Trend and the Tabbernor Trend,” MacKay said.
The Catharsis targets are along the southern extension of the highly uranium-fertile Key Lake Trend and the company has interpreted structural flexures along this trend that could be conducive to produce dilation which in turn could draw in uranium-bearing fluids during structural re-activation.
“These target areas have overlapping gravity, magnetic and EM anomalies making them highly attractive exploration targets,” MacKay added.
The company’s Athabasca 2.0 exploration plans focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside the Athabasca Basin.
Company stock went up by 0.76 per cent on Friday to $0.66 on the Canadian Ventures Exchange.