Baselode Energy - Uncovering District-Scale Uranium Potential in Canada’s Prolific Athabasca Basin

• Baselode Energy exploring for high-grade near-surface uranium deposits in Northern Saskatchewan
• Using geophysical surveys and drilling to test "Athabasca 2.0" concept of finding deposits mineable by open pit
• Have made a discovery at Hook project supporting concept; looking for more on other properties
• Plan large 2024 exploration program funded by $11.5 million in bank
• CEO James Sykes believes uranium market will be sustainable, unlike previous cycles, driven by demand and lack of new supply

About Baselode Energy

Uranium prices are heating up, sparking speculation about a coming boom in the niche commodity. With demand rising and supplies dwindling, the fundamentals appear ripe for a sustained bull market. One company hoping to ride this wave to new discoveries of uranium resources is Baselode Energy.

Baselode Energy CEO James Sykes explains his company’s “Athabasca 2.0” concept for finding high-value deposits in Northern Saskatchewan’s prolific Athabasca Basin region. He believes Baselode’s approach gives it an advantage in capitalizing on the rising uranium tide.

The company controls over 250,000 hectares of mineral claims in this prolific region, searching for high-grade uranium deposits using innovative exploration techniques.

Unlike many competitors targeting deep deposits buried under the Basin, Baselode's "Athabasca 2.0" strategy finding near-surface deposits in basement rocks outside the edges of the Basin. This approach could lead to the discovery of shallow, open-pit mineable uranium orebodies.

Baselode believes the Athabasca region still holds immense untapped resource potential, even after decades of exploration. By leveraging new understandings of structural geology and employing the latest geophysical survey technology, the company aims to make the next major uranium discovery in the Basin area.

The company's exploration model appears validated after uncovering its ACKIO prospect in 2021 using these methods. ACKIO revealed high-grade uranium mineralization starting at just 28 meters below surface and extending over a 375 meters strike length and 150 meters width. This near-surface uranium zone remains open in multiple directions.

With a massive district-scale land position, innovative exploration thesis, and early success proving its methods, Baselode Energy is well positioned to capitalize on a strengthening uranium market. The company has the ingredients and capability to unlock the Basin's next major uranium district.

Interview with Chief Executive Officer, James Sykes

Targeting Accessible, Near-Surface Deposits

“Athabasca 2.0 is a concept that you can discover near surface open pittable mineralization that is amendable to an open pit style of mining close to infrastructure,” Sykes said.

Unlike many uranium explorers focused on incredibly high-grade but deeply buried deposits, Baselode is deliberately going after shallower targets that would be feasible to mine with open pit operations.

Sykes argues that these types of deposits are most attractive economically. As he states, “If you had an open pit, you basically went into production. This is proven time and time again these are the type of deposits that go from discovery into production within 6 to 12 years - not these 40 year waits for deposits underneath the sand.”

Open pit uranium mining has precedent in Northern Saskatchewan’s geological terrain, further derisking Baselode’s strategy. Sykes points out, “There are more open pits in Northern Saskatchewan that have mined uranium than underground mines.”

Following the Data Signals

When hunting for buried uranium deposits with no surface expression, Sykes emphasizes that geophysics surveys are crucial for detecting subsurface alteration and geological structures favorable for hosting mineralization.

“We are very big on geophysics to bring us into drill targeting and then we drill and hope that we hit. Typically what we're actually trying to find is not uranium itself, it's alteration because the alteration halos on all of these Athabasca style of deposits are are bigger than mineralization itself and they have characteristics that will light up in geophysical surveys," he states.

Already this exploration methodology has borne fruit for Baselode. Sykes reveals, “We know that the concept is real with our AKCIO Discovery in 2021 - it's near surface, high grade uranium, close to a mill, amendable to an open pit style of mining, so we know that this concept does exist and we believe there are hidden deposits elsewhere outside of the Athabasca.”

Now armed with $11.5 million raised in late 2023, Baselode is set to launch its largest drill campaign on multiple properties in February 2024. Sykes is excited by the targets’ potential to deliver further Athabasca 2.0 discoveries.

Bullish on Nuclear Power’s Future

In addition to its exploration upside, Sykes argues that Baselode offers leverage to the promising long-term nuclear power growth story. With many governments including nuclear in their net-zero emissions plans over the coming decades, demand seems assured. Sykes even suggests nuclear power could still expand faster than anticipated.

“I think this is a great environment and people would not want to miss the boat. If there's any any fomo out there, there's there's no reason to be afraid of that you have not missed anything, we're still very early on in this game and the right companies can still make great rewards for for any investor out there," he states.

And unlike past uranium bull cycles, Sykes does not anticipate the good times ending abruptly this go around even in the worst-case scenario. As Sykes puts it, “I don't think the global governments are in a in a position to really get to remove nuclear from their portfolios.”

So for investors looking to tap into the burgeoning uranium rush, Baselode offers an attractive optionality play on hitting exploration jackpots in a prime jurisdiction coupled with positive sector economics underpinning commodity prices into the future. The risk-reward dynamics line up nicely for outsized upside.

The Investment Thesis for Baselode Energy

• Baselode exploring for shallow, high-grade uranium deposits amendable to low-cost open pit mining
• Unique Athabasca 2.0 concept targets basin outskirts unlike most competitors
• Successfully tested concept with new discovery, proving methodology
• Cashed up from recent raise to fund aggressive 2024 drilling campaign
• Leverage to forecast rising uranium prices over long-term from reactor demand growth
• CEO sees sustainable bull run unlike past temporary spikes, supportive even in worst-case events
• Potential for big share price gains on exploration success in strengthening uranium market

With its Athabasca 2.0 exploration concept yielding early encouraging results, Baselode Energy offers investors upside exposure to making further uranium discoveries in Saskatchewan’s resource-rich basin region. The company’s focus on shallow, open-pit amenable targets differentiates its approach from the pack. Paired with a strengthened uranium outlook thanks to growing nuclear energy demand amid efforts to displace fossil fuel electricity generation, the macroeconomic backdrop looks supportive. Savvy investors may want to take a closer look at this speculative micro-cap explorer making waves in a sector potentially on the cusp of a structural transformation.