Baselode Energy defines massive clay alteration system at Hook project
Published: 09:03 23 Sep 2024 EDT
Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) has announced promising results from the exploration and discovery portion of its drill program at the Hook project in Saskatchewan’s Athabasca Basin.
The company said that five drill holes have outlined a massive hydrothermal clay alteration system measuring at least 200 meters by 100 meters, which resembles alteration found in Athabasca high-grade uranium deposits.
Radioactivity within the clay alteration system increases with depth and remains open. One drill hole intersected 13.4 meters of continuous radioactivity.
Assays are pending, with the company well-funded to proceed with follow-up drilling for these high-priority exploration targets.
The newly defined target areas are located within 6 kilometers of the near-surface ACKIO uranium prospect.
James Sykes, Baselode Energy’s CEO, said that these results represented an important discovery on the Hook project.
He highlighted that while the company has already made a discovery at the project with ACKIO, this is just a small part of the broader Hook land package.
“The potential on the property is substantial as Hook is an extensive project, and our discovery at ACKIO, combined with our neighbour Atha Energy's discovery in their Gemini Mineralized Zone, highlights that the region has all the geological features needed to host significant uranium deposits,” Sykes said.
“More importantly, we can clearly demonstrate that this area is fertile with uranium mineralization. Large-scale alteration systems are key indicators when it comes to uranium, which tends to occur in smaller deposits relative to other minerals.”
The CEO concluded: “We're pleased to have uncovered such a large system, exhibiting all the hallmark features needed for a new high-grade Athabasca uranium discovery.”
