Uranium explorer Baselode Energy Corp. (TSX-V: FIND) (OTCQB: BSENF) signed an exploration agreement with an organization representing Indigenous communities in the Athabasca Basin on Wednesday.
Those communities have a series of exploration targets within the company’s land package in the jurisdiction, which spans over 264,000 hectares. Through the new agreement, Baselode will provide Ya’thi Néné Lands and Resources (YNLR) with monetary compensation for its work in their territory, contracting opportunities and contributions to their community trust.
“We are honoured to sign this exploration agreement as we appreciate a working partnership to continue protecting the values and rights of the First Nations and communities supported by YNLR,” James Sykes, CEO and President of the company, said.
Founded in 2016, YNLR is a non-profit comprised of seven Indigenous groups in the Athabasca Basin. The organization monitors mining operations in the region. It also acts as an initial point of contact for development in their territory requiring any sort of license, environmental assessment or permit.
“Signing this agreement with Baselode is another key step towards the protection of our land and culture, and reaching our economic development goals in the communities,” Mary Denechezhe, YNLR Elder and Board Chair, said.
Who are we?
Baselode is a well-funded #Uranium exploration company advancing its high-grade, near-surface Uranium discovery in the Athabasca Basin. Check out our video below! 👇
TSX.V: $FIND OTCQB: $BSENF pic.twitter.com/Uzh1r43ssj
— Baselode Energy – $FIND #Uranium (@BaselodeE) November 1, 2023
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Ya’thi Néné also entered an engagement agreement with Saskatchewan’s primary utility provider SaskPower in early December. SaskPower will cooperate with the organization when conducting power line rebuilds, vegetation management and other work in the jurisdiction.
The Athabasca Basin has contributed positively to Canada’s economy since 1975 because of its vast uranium resources. The region is larger than the entire province of New Brunswick, spanning approximately 100,000 square kilometres.
Canada holds 694,000 tonnes of yellowcake uranium, primarily in that jurisdiction, the World Nuclear Association says. Several uranium deposits were discovered in the Athabasca Basin during the late 1960s.
In recent days, the rising value of uranium has prompted a resurgence of interest in the region and its uranium resources. Explorers like Baselode, Stallion Uranium Corp. (TSX-V: STUD), Purepoint Uranium Group Inc. (TSX-V: PTU), Skyharbour Resources Ltd. (TSX-V: SYH), ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) and several others have been working diligently to capitalize on the current state of the world’s uranium cycle.
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