Baselode Energy (TSXV:FIND) has released assay results from all 28 drill holes completed during its 2024 exploration program at the ACKIO uranium prospect, revealing significant uranium mineralization across multiple zones and enhancing the company’s understanding of the deposit’s structural controls.
Pod 1: Shallow uranium confirmed north and south
Six drill holes (AK24-134 to AK24-137, AK24-143, and AK24-144) intersected uranium mineralization within 50 metres of surface. Notably, drill hole AK24-137 returned 0.38 per cent U₃O₈ over 9.15 metres at a depth of 37.35 metres (3.5 grade-thickness, or GT), confirming the southern extent of Pod 1’s mineralization near the overburden-bedrock contact. To the north, AK24-143 and AK24-144 intersected 0.12 per cent U₃O₈ over 11.8 metres (1.4 GT) and 0.12 per cent U₃O₈ over 9.0 metres (1.1 GT), respectively.
Pod 6: High-grade intersections among ackio’s best
Drill holes AK24-118 and AK24-119 delivered standout results in Pod 6, with 0.59 per cent U₃O₈ over 8.5 metres (5.0 GT) and 0.28 per cent U₃O₈ over 21.0 metres (5.8 GT), respectively. These intersections rank among the top 20 at ACKIO and provide valuable insights into the mineralization controls in this area.
Pod 7: Broad intervals and high confidence
Pod 7 saw strong results from AK24-135B and AK24-138, which intersected 0.18 per cent U₃O₈ over 28.0 metres (5.0 GT) and 0.19 per cent U₃O₈ over 23.0 metres (4.3 GT), respectively. Additional holes, including AK24-137 and AK24-139, also ranked in the top 10 for Pod 7 with 2.5 GT each. The data suggests a higher-grade core surrounded by a lower-grade halo, increasing confidence in the geological model.
Pods 8 and 9: Structural complexity emerges
In Pod 8, AK24-133 returned 0.09 per cent U₃O₈ over 11.5 metres (1.0 GT), the second-best result for the zone. However, results from Pods 8 and 9 have prompted a re-evaluation of the structural architecture, as uranium mineralization patterns were less predictable than in other pods.
Exploration holes: Geochemical anomalies despite no new zones
Exploration-focused drill holes (AK24-120 to AK24-127 and AK24-129 to AK24-130) did not intersect new uranium zones but revealed geochemical anomalies, including elevated lead isotope ratios, boron, and uranium, along with Mg-chlorite-rich clay—indicators of potential nearby mineralization.
Leadership insights
“These shallow mineralization results continue to demonstrate ACKIO’s unique advantage in the Basin area with easily accessible, near-surface uranium. Last year’s summer drill program successfully defined more shallow uranium mineralization to the north and south of our shallowest uranium zone, Pod 1. Uranium at the overburden-bedrock contact still remains open to the south and north,” Baselode’s president and CEO, James Sykes, commented in a media statement on these results. “Drilling at Pods 6 and 7 intersected higher average uranium grades over greater widths than previously intersected, suggesting there’s a zoned lower-grade to higher-grade uranium concentrations within those Pods. In addition, Pod 7 still requires a detailed investigation of uranium potential at the overburden-bedrock contact, which has not been tested to the same degree as Pod 1. We believe some of the higher-grade zones within Pod 7 extend up to the overburden-bedrock contact and have yet to be drill tested.”
Outlook
Baselode’s 2024 drill program has significantly advanced the geological understanding of the ACKIO prospect, particularly in Pods 1, 6, and 7. The company plans to integrate these results into future exploration strategies, with a focus on refining structural models and targeting high-grade zones.
Baselode Energy controls 2,640 square km for exploration in the Athabasca Basin area of northern Saskatchewan. The land is free of option agreements and underlying royalties.
Baselode Energy stock (TSXV:FIND) last traded at $0.13. Though it is up 53 per cent since the year began, it has lost 59 per cent since this time last year.
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