Baselode Energy (TSXV:FIND) has announced the discovery of a new zone of radioactivity located six kilometers northeast of the ACKIO site. This finding comes from recent drilling efforts in the area, where two drill holes, HK24-009 and HK24-010, were strategically placed based on geophysical surveys indicating a gravity low, magnetic low, and conductive response within an interpreted north-south oriented Tabbernor fault zone.

James Sykes, CEO, President, and Director of Baselode, commented in a press release: “We’re very excited about this new discovery on Hook, on the second hole of our regional exploration program. HK24-010 intersected over 30 metres of continuous radioactivity at approximately 173 metres vertical depth. This new discovery is hosted within a massive alteration corridor similar in scale to what we have observed at our ACKIO zone 6 km to the southwest. We believe the alteration corridor has mobilized uranium from the host rocks and deposited it within a redox front, similar to what we interpret for HK24-010. We intend to follow-up drilling in this area in the coming weeks after completing exploration drilling in a logistically efficient order on other targets with stronger geophysical anomalisms. Hook’s regional exploration aim was to discover new zones of uranium mineralization and we’re well on our way with this new prospect.”

Drill hole HK24-009 intersected 130 meters of massive hydrothermal alteration, characterized by alternating hematite and white clay within orthogneiss. Radioactivity measurements, taken with a gamma probe, averaged 20 counts-per-second (cps) in the altered rocks. In fresh rock types, readings of 34 cps and 69 cps were recorded, with a notable zone of anomalous radioactivity measuring 177 cps over 4.3 meters.

Drill hole HK24-010 showed even more extensive alteration, intersecting over 230 meters of structurally controlled hydrothermal alteration similar to HK24-009. Gamma probe radioactivity averaged 23 cps within the altered rocks down to a depth of 200.8 meters. Beyond this, the readings spiked to an average of 275 cps over 33.7 meters, including a peak of 473 cps over 6.8 meters. This higher radioactivity is associated with structurally controlled hydrothermal hematite and minor redox alteration within the basal 2.5 meters of metasedimentary rocks and pegmatite. Fresh rock at the end of this drill hole averaged 60 cps.

The samples from these drill holes have been sent to the Saskatchewan Research Council for further uranium and multi-element analysis. Baselode Energy Corp. plans to release these results once they have been reviewed.

It is important to note that Baselode uses gamma probe readings as a preliminary indication of the presence of radioactive materials, including uranium, thorium, and potassium. These readings do not directly quantify or qualify the uranium concentrations in the rock samples. Any gamma probe readings above 100 cps are considered anomalous, with background radioactivity typically measuring between 20 and 70 cps.

Baselode Energy Corp. controls approximately 272,804 hectares in the Athabasca Basin area of northern Saskatchewan, Canada. This land package is entirely owned by Baselode and is not subject to any option agreements or underlying royalties. The Company first discovered the ACKIO near-surface uranium prospect in September 2021. This prospect includes nine separate uranium pods with mineralization starting as shallow as 28 meters below the surface and extending to depths of approximately 300 meters. The ACKIO site remains open at depth and to the north, south, and east.

The company’s exploration approach, known as Athabasca 2.0, focuses on discovering near-surface, basement-hosted, high-grade uranium deposits outside the Athabasca Basin. Baselode employs innovative and well-understood geophysical methods to map deep structural controls and identify shallow drilling targets.

Highlights from the results are as follows:

• Intersected over 30 metres of continuous radioactivity within a massive hydrothermal alteration system
• New zone discovered on the second drill hole of Hook’s regional exploration program, 6 km from ACKIO discovery
• Demonstrates the fertility of the uranium corridor along Baselode’s Hook Project

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.