- Baselode Energy (TSXV:FIND), a top-performing uranium stock in Canada, has shared impressive uranium assays from the ACKIO prospect on its Hook project in Saskatchewan
- Results are highlighted by a high-grade intersection of 1.11 per cent U3O8 over 7.4 metres
- Baselode Energy controls 264,172 hectares for exploration in the Athabasca Basin area of northern Saskatchewan
- Baselode Energy stock (TSXV:FIND) has fallen by more than 45 per cent year-over-year, but has gained approximately 288 per cent since 2018, more than five times the return of the iShares S&P/TSX Capped Energy Index ETF over the period
Baselode Energy (TSXV:FIND), a top-performing uranium stock in Canada, has shared impressive uranium assays from the ACKIO prospect on its Hook project in Saskatchewan.
Results are highlighted by a high-grade intersection of 1.11 per cent U3O8 over 7.4 metres within 0.41 per cent U3O8 over 34.85 m at 43.5 m true vertical depth in drill hole AK23-95.
Three of the five drill hole assays reported Wednesday encountered greater than 30 m of mineralization starting within 50 m of surface.
Assays are pending for 15 drill holes from the 36-hole, 7,512 m diamond drilling program, representing shallow mineralization expanding Pod 7, exploration drill holes outside the known ACKIO footprint, and the drill holes with the highest radioactivity results during the program.
The ACKIO near-surface uranium prospect measures more than 375 m along strike and greater than 150 m wide across nine separate uranium pods. The pods contain mineralization as shallow as 28 m and down to 300 m. ACKIO remains open at depth, and to the north, south and east.
The prospect is 30 kilometres southeast of high-quality infrastructure, including an all-season road and powerline between Cameco (TSX:CCO) and Orano’s McArthur River mine and Key Lake uranium mill joint ventures. ACKIO is 70 km northeast of the Key Lake mill.
“ACKIO continues to impress us with near-surface, high-grade uranium mineralization in Pod 1, and with growth potential in Pod 7 starting to be realized. Drill holes AK23-095, AK23-096, and AK23-098 intersected mineralization starting within 50 m of surface, and had greater than 30 m of composite mineralization. This demonstrates the potential of ACKIO as it hosts shallow, high-grade uranium and is endowed with multiple thick sequences of mineralization,” James Sykes, Baselode Energy’s president and CEO, said in a statement.
“In addition, Pod 7 has grown in thickness, depth and strike length with four drill holes, remaining open at depth and along strike. We anticipate more encouraging results from Pod 7 as the highest levels of radioactivity encountered in the program were drilled 50 metres along strike of holes AK23-98 and AK23-99,” he added.
Baselode Energy controls 264,172 hectares 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) is up by 2.94 per cent trading at C$0.35 per share as of 10:01 am ET. The stock has fallen by more than 45 per cent year-over-year, but has gained approximately 288 per cent since 2018, more than five times the return of the iShares S&P/TSX Capped Energy Index ETF over the period.
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