(D Zone at the Mann Cobalt-Silver Property. Image via Baselode Energy Corp.)
Baselode Energy Corp. (TSX-V: FIND, Forum) kicked-off a non-brokered private placement of flow-through and non-flow-through units this week for gross proceeds of up to $1.2 million. The proceeds will be mainly used for exploration work at its Shadow and Hook Projects, of which are testing for basement uranium targets in the Athabasca Basin in Saskatchewan, Canada.
The Company’s President and Chief Executive Officer, James Sykes, noted that it recently received final results from the Mobile MT survey at its 100% owned Shadow Project that are highlight attractive.
“The survey outlined an extensive structural network which shares geophysical similarities with other high-grade uranium deposits, such as NexGen's Arrow and Cameco's Key Lake deposits. This financing will allow us to initiate a maiden diamond drill program to test these shallow targets.”
To find out more about this private placement, click
here.
This uranium exploration Company is focused on discovering basement-hosted, high-grade uranium orebodies and recently
expanded its land position at its Shadow uranium property to cover 460 km2 (46,000 ha.) and encompasses a larger area along the Virgin River Shear Zone. The Shadow property was expanded based on the preliminary results of the Company's heliborne mobile magnetotellurics survey.
FULL DISCLOSURE: Baselode Energy Corp. is a client of Stockhouse Publishing.