Baselode Energy: Promising Uranium Exploration in the Athabasca Basin

• Baselode Energy completed a 7,500-meter diamond drilling on its Hook project, particularly targeting the Accio near-surface uranium zone, and reported optimistic results.
• CEO James Sykes decided to skip the WNA Symposium in London due to previous successful uranium conferences attended earlier in the year.
• Interest in Baselode has noticeably surged in recent weeks, following the Accio discovery, leading to increased communication and meetings.
• Initial findings indicate more near-surface uranium mineralization. The company uses CPS (counts per second) as an indicator of uranium activity and sees promise in these initial results.
• Baselode plans to further analyze and identify more mineralization in the area and believes there is potential for higher grade pods within the entire Accio system. They await final assay results to confirm their findings.

About Baselode Energy

Baselode Energy is a Canadian uranium exploration company focused on discovering economic concentrations of uranium in the Athabasca Basin in Saskatchewan, Canada. The land package is 100% owned by the company with no underlying royalties. The company was founded in 2013 and is headquartered in Saskatoon. Baselode Energy's flagship project is the Hook project, where the company has made a near-surface, high-grade uranium discovery called ACKIO. The Hook project covers over 16,000 hectares and is located on the south-eastern edge of the Athabasca Basin.

ACKIO contains multiple stacked uranium zones starting at just 28 meters depth and extending down over 300 meters. The deposit remains open for expansion along strike and up to the Athabasca sandstone unconformity. Baselode’s exploration strategy focuses on discovering near-surface uranium deposits hosted in basement rocks outside the Athabasca Basin using innovative geophysical surveys to identify shallow drill targets. This Athabasca 2.0 approach led to the ACKIO discovery and has strong potential for additional success.

Interview with James Sykes, President & CEO of Baselode Energy Corp

High-Grade Uranium Discovery at ACKIO

In the interview, Baselode Energy CEO James Sykes provides an update on the company’s latest drilling results from the ACKIO discovery on the Hook project. ACKIO was first discovered in 2020 and the company completed a 7,500 meter diamond drill program there in 2022, focused on infill and step-out drilling.

The 2022 drilling encountered the highest radioactivity results seen at ACKIO to date, providing further evidence for the presence of high-grade uranium mineralization. ACKIO appears to consist of multiple stacked mineralized zones or "pods" starting from just 30-40 meters below surface. Step-out drilling was successful in expanding the footprint of the mineralized pods, especially Pod 7 which was extended over 100 meters along strike.

The near-surface, high-grade nature of ACKIO gives it open pit mining potential. The company is now awaiting full uranium assay results, but the radioactivity counts suggest grades could range from 0.1% to over 1% U3O8. This is comparable to the average grades of many past and present uranium mines.

Favorable Geology

ACKIO is interpreted to be structurally controlled, with uranium mineralization focused along cross-cutting fault structures. This complex geology means tighter drill spacing will be required to fully define the deposit. However, the competent nature of the host rocks means they would be suitable for underground mining if needed.

In addition to the basement-hosted mineralization, Baselode Energy is also focused on exploring the potential of the overlying Athabasca sandstone. Sandstone-hosted deposits often contain exceptionally high uranium grades and represent primary exploration targets.

Next Steps

With the 2022 drilling now complete, Baselode Energy is looking ahead to future exploration efforts. Over the next 6 months, the focus will be on analyzing the full assay results, refining the structural model of the deposit, and identifying the highest priority drill targets for 2023. The company expects to resume drilling at ACKIO next summer.

Baselode Energy is also advancing exploration at another Athabasca Basin project called Mirror. Early drilling at Mirror intersected uranium mineralization and alteration, confirming the potential for additional discoveries in the region.

The company is well funded, with approximately $7 million in cash to support ongoing exploration activities.

Conclusion

In summary, Baselode Energy provides investors with exposure to an exciting new uranium discovery in a premier mining jurisdiction. The ACKIO system has demonstrated significant size potential and evidence of high-grade uranium mineralization starting right from surface. As the uranium market continues to strengthen, ACKIO could provide Baselode Energy with substantial upside and positive news flow. With a tight capital structure and experienced management team, Baselode Energy represents an attractive speculative investment in the uranium exploration sector.