chico237
2 years ago
Baselode Reports High-Grade Uranium Within 15.5 Metre Mineralized Zone at ACKIO Discovery
https://baselode.com/news/baselode-reports-high-grade-uranium-within-15.5-metre-mineralized-zone-at-ackio-discovery/
December 6, 2021
Toronto, Ontario – December 06, 2021 – Baselode Energy Corp. (TSXV: FIND, OTCQB: BSENF) ("Baselode" or the "Company") is pleased to report Uranium assay results from the first diamond drill hole, AK21-01, of the recent ACKIO Uranium discovery (“ACKIO”) on the Hook project (“Hook”), Athabasca Basin area, northern Saskatchewan.
Highlights include:
High-grade* Uranium confirmed; 1.29 wt% U3O8 over 0.5 m at 138.8 m and 0.66 wt% U3O8 over 0.5 m at 142.3 m
Primary mineralized zone measuring 15.5 m of 0.13 wt% U3O8 starting at 134.3 m
Multiple uranium intersections occurring over 200 m of drill hole length.
“We are very excited with the confirmation of high-grade Uranium at ACKIO. The ACKIO discovery is beginning to take shape; with high-grade Uranium intersected near-surface, multiple and widespread zones of mineralization, and an alteration halo that exceeds over 230 m which is suggestive of a massive structurally-controlled fluid system. We are still in the early days of exploring and learning more about ACKIO but these assay results from AK21-01 have provided us with invaluable information to help us plan our next steps accordingly,” said James Sykes, CEO, President and Director of Baselode.
The Company will follow this news release with a video presentation for the public in the coming days that will provide encouraging comparisons with other notable Athabasca basement-hosted, high-grade Uranium deposits, such as 1) NexGen Energy’s (TSX:NXE) Arrow deposit, and 2) Denison Mines (TSX:DML) Gryphon deposit. The video presentation will also highlight the significance of elevated Cobalt, Copper, and Nickel intersected within the drill hole, as well as the extent and meaning of anomalous Boron, Lithium and Vanadium within the massive alteration halo.
Assay results from the remaining drill holes (AK21-02A to AK21-04) completed on ACKIO in the summer program will be released after they’ve all been received, quality checked, and approved by the Company’s technical team.
Planned Winter Drill Program on ACKIO
Baselode is planning for a 10,000 metre diamond drill program on the ACKIO discovery to begin in mid- to late-January. Drill holes will be planned to intersect mineralization along strike and dip, which remains open in all directions, and to test for unconformity-style of mineralization. The drill program will be operated with helicopter support to lessen any ground-induced environmental impacts within the project area.
ACKIO is located 30 km southeast of well-established infrastructure including an all-season road and powerline that runs between Cameco Corp.’s (TSX: CCO) and Orano’s McArthur River mine and Key Lake Uranium mill joint ventures. ACKIO is located 70 km northeast of the Key Lake mill.
BASELOAD is fully funded! IMHO load up at this price! Looks like Sykes & team have found some U!
Chico
chico237
2 years ago
NEWS-Baselode Energy Announces $8.0 Million Bought Deal Private Placement
https://baselode.com/news/baselode-energy-announces-8.0-million-bought-deal-private-placement/
Toronto, Ontario, November 10, 2021 – Baselode Energy Corp. (TSXV: FIND) (“Baselode” or the “Company”) is pleased to announce that the Company has entered into an agreement with a syndicate of underwriters led by PI Financial Corp. (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” private placement basis, an aggregate of 6,957,000 units (the “Units”) of the Company at a price of C$1.15 per Unit (the “Offering Price”) for gross proceeds of C$8.0 million (the “Offering”).
Each Unit shall consist of one common share (“Share”) and one-half of one transferrable common share purchase warrant (each whole such common share purchase warrant, a “Warrant”). Each Warrant shall be exercisable into one additional common share of the Company for 30 months from the Closing Date at an exercise price of C$1.60.
In addition, the Company has granted the Underwriters an option, exercisable in whole or in part at any time prior to closing of the Offering, to offer an additional number of Units representing 15% of the Offering, on the same terms as the Units.
The net proceeds of the Offering will be used to fund exploration and development expenses for the Catharsis, Hook and Shadow projects and for general working capital purposes. The closing of the Offering is anticipated to occur on or around November 30, 2021 (the “Closing Date”) and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. All securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the Closing Date.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Baselode Energy Corp.
Baselode currently controls 100% of approximately 226,900 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.
Baselode's Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.
Nice move accessing the market now for $8M Cash. Enough for the new Year & then some....(DRILL baby...DRILL) -IMHO
Chico
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parrishilton
3 years ago
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