- Baselode Energy (FIND) detected elevated radiation on its Catharsis Project in Saskatchewan’s Athabasca Basin
- The Toronto-based mining and energy company completed eight drill holes for 1,630 metres on the first drill program on the project
- Drilling revealed alteration systems with similarities to existing uranium deposits in the Athabasca Basin
- Baselode Energy Corp is a uranium exploration company
- Baselode Energy (FIND) is down 6.38 percent, trading at $0.44 at 12:26 p.m. ET
Baselode Energy (FIND) detected elevated radiation on its Catharsis Project in Saskatchewan’s Athabasca Basin.
The Toronto-based mining and energy company completed eight drill holes for 1,630 metres on the first drill program on the project.
The drill program identified a structurally-controlled quartz-hematite-clay alteration system over 105 metres of core length in one hole. That alteration shares numerous similarities with fluid conduits observed near other Athabasca basement-hosted uranium deposits.
The company sees evidence of multiple structurally-controlled fluid events utilizing the contact.
Further results are still pending.
“The presence of multiple generations of variable fluid compositions utilizing the same structural corridors is encouraging for continued exploration at this target and within the Catharsis project as a whole. Drill testing this target area has provided us with a good understanding of the geology and what our geophysical anomalies represent, which has helped us identify and prioritize additional high-priority drill targets on the Catharsis project,” said Baselode Energy CEO and President James Sykes.
“As we wait for geochemical assay and study results from the Program, we’ll now turn our attention to our other exciting project, ACKIO, which hosts near-surface, high-grade uranium mineralization.”
Five of eight drill holes intersected elevated radioactivity at or near the lithological contact between the metasediments.
Elevated is defined as “greater than 2x to 5x the background radioactivity levels of all other rock types as measured with 2GHF Triple Gamma downhole probe.
Baselode Energy Corp is a uranium exploration company focused on discovering high-grade, basement-hosted, near-surface deposits in Canada’s Athabasca Basin.
Baselode Energy Corp. (FIND) is down 6.38 percent, trading at $0.44 at 12:26 p.m. ET.
