Baselode Reports Eighteen Drill Holes with Near-Surface Radioactivity on its ACKIO Uranium Prospect

Baselode Reports Eighteen Drill Holes with Near-Surface Radioactivity on its ACKIO Uranium Prospect

  • Eighteen drill holes encountered anomalous radioactivity starting at depths of less than 100 metres from surface, with nine of these starting within 50 metres
  • Highlight drill hole AK24-137 intersected four separate zones of radioactivity with greater than 5,000 counts per second ("cps")
  • Seven drill holes intersected radioactivity with greater than 5,000 cps
  • Thirteen drill holes reported composite intervals of anomalous radioactivity between 11 and 42 metres in thickness, spanning five distinct areas

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide radioactivity drilling results from the ACKIO uranium prospect ("ACKIO") in the Athabasca Basin area of northern Saskatchewan (Figure 1, Table 1).

"ACKIO continues to demonstrate significant growth, with broad intersections of anomalous radioactivity, including zones of high radioactivity across multiple Pods. Overall, this has been a successful drill program, expanding the footprint of known near-surface mineralization around Pods 1 and 7, intersecting new zones of higher radioactivity in Pods 6 and 7, and improving our confidence in the continuity of mineralization at ACKIO as a whole," commented James Sykes, CEO, President, and Director of Baselode.

ACKIO Drill Hole Details (Figure 2)
Pod 1 (Figure 3)
Drill holes AK24-134 to AK24-137 were collared along the western margin of Pod 1 with the specific focus of intersecting mineralization in Pod 7. Drill holes AK24-134 and AK24-137 intersected near-surface anomalous radioactivity (i.e., greater than 300 cps) outside of the modeled extents of Pod 1, expanding the near-surface radioactive footprint of Pod 1 in the southwest. Radioactivity in these drill holes started at shallow depths, between 32 and 42 metres beneath the surface.

Drill holes AK24-143 and AK24-144 were collared to pierce the northern extents of Pod 1 while continuing to depth and investigating the northwest strike extension of Pod 7. These drill holes both intersected greater than 10 metres of continuous anomalous radioactivity, confirming the thickness of Pod 1 mineralization to the north., Both drill holes intersected anomalous radioactivity starting as shallow as 36 and 38 metres from surface, respectively.

Pod 6 (Figure 3)
Drill holes AK24-117 to AK24-119, previously released on July 2, 2024, intersected thick, continuous, and exceptional radioactivity results within the centre and near the modelled edges of Pod 6 mineralization. These results have increased the size of Pod 6 and will help improve our understanding of Pod 6, which until now had four drill holes from previous years defining its extents. Drill holes AK24-118 and AK24-119 have intersected the best radioactivity results from all Pod 6 drill holes. The main zones of mineralization were intersected between 124 and 141 metres beneath the surface.

Pod 7 (Figure 3)
Previous drilling in 2023 had doubled the width of the Pod 7 mineralization envelope. Drill holes AK24-134 to AK24-139 were designed to improve our understanding of the mineralization potential that exists at Pod 7. These drill holes intersected between 12 and 39 metres thick composite anomalous radioactivity, and all drill holes (excluding AK24-139) returned intervals with elevated radioactivity (i.e., greater than 5,000 cps), spanning a strike length of approximately 85 metres. In particular, AK24-137 intersected three separate zones of continuous anomalous radioactivity ranging from 1.5 to 13.3 metres thick, each of which intersected radioactivity levels ranging from 5,000 to 10,000 cps. The radioactivity results for AK24-135B, AK24-137 and AK24-138 rank them as the best for Pod 7. The start of radioactivity in these holes were intersected between 44 and 90 metres below the surface.

Pod 8
The mineralization extents of Pod 8 were defined with only three drill holes from previous years. Drill holes AK24-131 to AK24-133 were designed to improve our understanding of this Pod. AK24-133 successfully intersected 11 metres of anomalous radioactivity, confirming continuity of mineralization within the centre of Pod 8. Mineralization starts as shallow as 97 metres beneath the surface.

Pod 9
Similar to Pod 8, Pod 9 was defined with only three drill holes from previous years. Pod 9 is the deepest modeled Pod of mineralization at ACKIO. Drill holes AK24-140 to AK24-142 were not successful identifying mineralization in Pod 9, however, each drill hole identified previously unknown radioactivity at shallow depths, ranging from 66 to 89 metres beneath the surface, respectfully. The Company believes the shallow radioactivity from these drill holes is an extension of Pod 1 mineralization.

ACKIO Exploration Drill Hole Details
Exploration drilling within the immediate ACKIO area (i.e., within 200 m of ACKIO mineralization) was designed to test for additional mineralization; 1) at depth, 2) along strike to the northwest and southest, and 3) at the unconformity.

Depth Exploration
Drill holes AK24-120 to AK24-122 were designed to test the deeper structural controls of mineralization at ACKIO, targeting areas with a combination of uranium and alteration projected from previous years drill holes. Although each drill hole did not intersect anomalous radioactivity, it is noted that drill hole AK24-121 did intersect above-background levels of radioactivity and significantly thick hematite-clay hydrothermal alteration zones underneath ACKIO, suggesting the uranium-fertile hydrothermal fluid system remains open at depth.

Along Strike Exploration
Drill holes AK24-128, AK24-143 and AK24-144 were designed to test for mineralization continuity at depth in the northwest strike direction of Pod 7. Although the drill holes did not intersect their intended targets, they did define new occurrences of radioactivity starting at shallow depths ranging from 36 to 41 metres beneath the surface.

Drill holes AK24-123 and AK24-130 were designed to test for mineralization continuity in the southeast strike direction of ACKIO, following up results from previous years of drilling that suggested the mineralization and alteration system could be open in that direction. These drill holes did not intersect alteration systems of interest.

Unconformity Exploration
Drill holes AK24-124 to AK24-127 were designed to test for the potential of unconformity mineralization along structures penetrating the sandstone to the east of ACKIO. These drill holes are the eastern-most exploration drill holes in the ACKIO system to date. Although they did not intersect mineralization at the unconformity, AK24-127 did intersect anomalous radioactivity within the sandstone, 3.1 and 5.6 metres above the unconformity (i.e., between 52 and 55 metres beneath the surface). Further investigation is required to assess follow-up drilling potential of this drill target.

Drill hole AK24-129 was designed to test for unconformity mineralization potential with the immediate ACKIO area where previous drilling intersected mineralization 10 metres beneath the unconformity. Although the drill hole did not intersect mineralization within the sandstone or at the unconformity, it did intersect anomalous radioactivity in hydrothermal hematite and clay alteration 25 metres beneath the unconformity.

NOTES:

  1. cps* = "counts-per-second", as measured with a handheld RS-125 Gamma-Ray Spectrometer/Scintillometer ("RS-125"). The reader is cautioned that Baselode uses scintillometer readings as a preliminary indication for the presence of radioactive materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly to quantify or qualify uranium concentrations of the rock samples measured.
  2. The Company defines RS-125 radioactivity results as i) background radioactivity (50 to 200 cps), ii) above-background radioactivity (200 to 300 cps), iii) anomalous radioactivity (300 to 1,000 cps), and iv) elevated radioactivity (>1,000 cps).
  3. "Radioactivity (>300 cps)" in Table 1 is defined as drill core length with no greater than 2.0 m of consecutive drill hole length measuring less than 300 cps.
  4. All reported lengths are drill hole lengths and do not represent true thicknesses which have yet to be determined. All reported "beneath surface" measurements are true vertical depths from surface.

About Baselode Energy Corp.
Baselode controls 100% of approximately 238,930 hectares for exploration in the Athabasca Basin area of northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

The Company discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.

Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside 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.

QP Statement
The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

For further information, please contact:

James Sykes, CEO, President and Director
Baselode Energy Corp.
jsykes@oregroup.ca
www.baselode.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedarplus.ca.

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, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

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Figure 1 - Baselode projects location map. ACKIO uranium prospect identified with yellow circle

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Figure 2 – Diamond drill hole collar locations and drill traces

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Figure 3 - Cross-section slice of 3D ACKIO uranium mineralization model 

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TABLE 1 - ACKIO diamond drill hole radioactivity results

DDHTarget AreaIntended TargetEastNorthElevationAz.DipEOHRadioactivity (>300 cps)Assay Results (>0.05 wt% U3O8)
AK24-117*ACKIOPod 6526142637290246590-75227368 cps over 0.45 m at 74.4 mAssay results pending
Pod 6301 cps over 1.8 m at 108.3 mAssay results pending
Pod 6409 cps over 6.25 m at 117.25 mAssay results pending
Pod 6426 cps over 12.55 m at 128.1 mAssay results pending
Pod 6327 cps over 6.4 m at 145.2 mAssay results pending
Pod 6399 cps over 0.65 m at 160.95 mAssay results pending
AK24-118*ACKIOPod 65261426372902465118-71257456 cps over 0.8 m at 89.3 mAssay results pending
Pod 6350 cps over 0.5 m at 92.7 mAssay results pending
Pod 6392 cps over 2.6 m at 119.1 mAssay results pending
Pod 6315 cps over 3.1 m at 131.8 mAssay results pending
Pod 61,115 cps over 13.3 m at 149.3 mAssay results pending
AK24-119*ACKIOPod 6526133637290746365-75230300 cps over 8.5 m at 109.5 mAssay results pending
Pod 6907 cps over 34.05 m at 131.1 mAssay results pending
Pod 6Includes9,173 cps over 0.4 m at 144.6 mAssay results pending
AK24-120ACKIOExploration - Depth5262106373081464270-70512No significant results
AK24-121ACKIOExploration - Depth5263176372980465270-70452No significant results
AK24-122ACKIOExploration - Depth5264206372880467270-70446No significant results
AK24-123ACKIOExploration - SE Strike5264506372680467270-65369No significant results
AK24-124ACKIOExploration - UC526335637273046690-90200No significant results
AK24-125ACKIOExploration - UC526335637273046690-60331.65495 cps over 0.3 m at 132.75 mAssay results pending
AK24-126ACKIOExploration - UC526342637283046690-70269No significant results
AK24-127ACKIOExploration - UC526362637292846790-80215330 cps over 0.15 m at 53.4 mAssay results pending
Exploration - UC330 cps over 0.1 m at 55.9 mAssay results pending
Exploration - UC320 cps over 0.25 m at 115.75 mAssay results pending
AK24-128ACKIOExploration - NW Strike5260626373080466270-60200302 cps over 1.85 m at 47.7 mAssay results pending
Exploration - NW Strike370 cps over 0.1 m at 50.0 mAssay results pending
Exploration - NW Strike300 cps over 0.6 m at 50.65 mAssay results pending
Exploration - NW Strike310 cps over 0.15 m at 58.6 mAssay results pending
Exploration - NW Strike460 cps over 0.1 m at 59.1 mAssay results pending
Exploration - NW Strike300 cps over 0.2 m at 62.9 mAssay results pending
Exploration - NW Strike418 cps over 0.9 m at 109.05 mAssay results pending
AK24-129ACKIOExploration - UC5262316372800467270-90188324 cps over 0.65 m at 80.65 mAssay results pending
AK24-130ACKIOExploration - SE Strike5264536372383468250-60281No significant results
AK24-131ACKIOPod 8526135637283646476-65242No significant results
AK24-132ACKIOPod 8526135637283646476-59218No significant results
AK24-133ACKIOPod 8526124637287946590-60224397 cps over 1.10 m at 112.4 mAssay results pending
Pod 8341 cps over 0.55 m at 116.7 mAssay results pending
Pod 8350 cps over 0.8 m at 120.3 mAssay results pending
Pod 8396 cps over 11.65 m at 128.95 mAssay results pending
Pod 8444 cps over 1.2 m at 155.5 mAssay results pending
AK24-134ACKIOPod 15260916372932463267-50191386 cps over 6.05 m at 53.2 mAssay results pending
Between Pods 1 & 7400 cps over 0.5 m at 74.0 mAssay results pending
Pod 71,035 cps over 11.0 m at 101.3 mAssay results pending
Pod 7includes6,621 cps over 0.7 m at 103.9 mAssay results pending
Pod 7400 cps over 0.05 m at 128.2 mNot sampled
Pod 7500 cps over 4.75 m at 131.9 mAssay results pending
Pod 76,344 cps over 0.3 m at 138.9 mAssay results pending
AK24-135BACKIOPod 15260916372932463267-50185410 cps over 0.6 m at 41.6 mAssay results pending
Pod 1478 cps over 0.4 m at 44.0 mAssay results pending
Pod 1417 cps over 1.55 m at 47.0 mAssay results pending
Pod 1442 cps over 0.6 m at 53.3 mAssay results pending
Pod 1465 cps over 0.2 m at 55.9 mAssay results pending
Pod 7438 cps over 1.25 m at 89.45 mAssay results pending
Pod 7983 cps over 28.65 m at 98.2 mAssay results pending
Pod 7includes5,920 cps over 0.15 m at 123.1 mAssay results pending
Pod 7623 cps over 0.6 m at 156.3 mAssay results pending
AK24-136ACKIOPod 15260916372932463245-55208.45380 cps over 0.2 m at 52.4 mAssay results pending
Pod 1414 cps over 0.75 m at 56.7 mAssay results pending
Between Pods 1 & 7366 cps over 4.6 m at 74.0 m1Assay results pending
Pod 7328 cps over 6.3 m at 103.8 mAssay results pending
Pod 7800 cps over 5.15 m at 113.5 mAssay results pending
Pod 7includes10,455 cps over 0.2 m at 118.45 mAssay results pending
Pod 7320 cps over 0.05 m at 125.9 mAssay results pending
Pod 7471 cps over 0.45 m at 129.4 mAssay results pending
AK24-137ACKIOPod 15260916372932463241-691911,236 cps over 8.95 m at 37.35 m2Assay results pending
Pod 1includes5,827 cps over 0.2 m at 39.35 mAssay results pending
Pod 1325 cps over 3.4 m at 50.5 mAssay results pending
Pod 1330 cps over 0.15 m at 58.85 mAssay results pending
Pod 7302 cps over 4.4 m at 96.55 mAssay results pending
Pod 7365 cps over 3.4 m at 105.25 mAssay results pending
Pod 7380 cps over 0.1 m at 120.35 mAssay results pending
Pod 7684 cps over 0.3 m at 124.7 mAssay results pending
Pod 71,272 cps over 13.3 m at 127.5 mAssay results pending
Pod 7includes5,000 cps over 0.2 m at 130.1 mAssay results pending
Pod 7and includes7,000 cps over 0.05 m at 132.1 mAssay results pending
Pod 7and includes5,600 cps over 0.85 m at 132.7 mAssay results pending
Pod 7and includes10,600 cps over 0.1 m at 134.55 mAssay results pending
Pod 71,122 cps over 4.85 m at 142.9 mAssay results pending
Pod 7includes5,600 cps over 0.25 m at 143.15 mAssay results pending
Pod 7and includes6,500 cps over 0.1 m at 146.15 mAssay results pending
Pod 71,063 cps over 1.45 m at 150.65 mAssay results pending
Pod 7includes10,000 cps over 0.1 m at 150.65 mAssay results pending
AK24-138ACKIOPod 75260606372968462251-60152388 cps over 11.2 m at 64.85 m3Assay results pending
Pod 7905 cps over 26.5 m at 79.55 mAssay results pending
Pod 7includes7,000 cps over 0.1 m at 89.05 mAssay results pending
Pod 7and includes6,300 cps over 0.1 m at 96.4 mAssay results pending
Pod 7and includes5,500 cps over 0.1 m at 97.55 mAssay results pending
Pod 7and includes5,290 cps over 0.6 m at 101.5 mAssay results pending
Pod 7454 cps over 0.75 m at 108.35 mAssay results pending
Pod 7738 cps over 0.8 m at 111.95 mAssay results pending
AK24-139ACKIOPod 75260606372968462281-45179369 cps over 0.85 m at 62.15 mAssay results pending
Pod 7300 cps over 0.4 m at 65.0 mAssay results pending
Pod 7664 cps over 24.7 m at 68.45 mAssay results pending
Pod 7305 cps over 0.05 m at 96.35 mAssay results pending
Pod 7495 cps over 0.1 m at 98.25 mAssay results pending
Pod 7388 cps over 0.2 m at 101.45 mAssay results pending
Pod 7360 cps over 0.1 m at 134.45 mAssay results pending
Pod 7380 cps over 0.15 m at 137.9 mAssay results pending
AK24-140ACKIOPod 9525979637307946180-65275360 cps over 0.4 m at 82.3 mAssay results pending
Pod 9320 cps over 1.6 m at 88.9 mAssay results pending
Pod 9350 cps over 0.25 m at 92.75 mAssay results pending
Pod 9300 cps over 0.6 m at 99.9 mAssay results pending
AK24-141ACKIOPod 9525979637307946193-76365988 cps over 1.65 m at 91.8 mAssay results pending
Pod 9340 cps over 0.1 m at 180.7 mAssay results pending
Pod 9300 cps over 0.2 m at 271.4 mAssay results pending
Pod 9360 cps over 0.2 m at 272.95 mAssay results pending
Pod 9310 cps over 0.15 m at 274.3 mAssay results pending
AK24-142ACKIOPod 9525979637309146285-78343.3300 cps over 0.15 m at 68.0 mAssay results pending
Pod 9458 cps over 1.35 m at 77.25 mAssay results pending
Pod 9550 cps over 0.1 m at 102.1 mAssay results pending
Pod 9440 cps over 0.1 m at 112.25 mAssay results pending
Pod 9757 cps over 0.2 m at 114.1 mAssay results pending
Pod 9500 cps over 0.15 m at 116.45 mAssay results pending
Pod 9374 cps over 0.45 m at 184.0 mAssay results pending
Pod 9380 cps over 0.2 m at 184.8 mAssay results pending
Pod 9400 cps over 0.1 m at 185.4 mAssay results pending
Pod 9347 cps over 0.45 m at 276.2 mAssay results pending
AK24-143ACKIOPod 15261016373029463265-55221330 cps over 0.45 m at 46.9 mAssay results pending
Pod 1397 cps over 21.25 m at 59.5 m4Assay results pending
Exploration - NW Strike300 cps over 0.1 m at 90.3 mAssay results pending
Exploration - NW Strike360 cps over 0.3 m at 97.7 mAssay results pending
Exploration - NW Strike300 cps over 0.15 m at 101.0 mAssay results pending
Exploration - NW Strike453 cps over 0.3 m at 123.6 mAssay results pending
Exploration - NW Strike330 cps over 2.1 m at 125.7 mAssay results pending
Exploration - NW Strike450 cps over 0.5 m at 130.75 mAssay results pending
Exploration - NW Strike344 cps over 4.35 m at 136.1 mAssay results pending
Exploration - NW Strike300 cps over 0.2 m at 152.6 mAssay results pending
Exploration - NW Strike380 cps over 0.25 m at 153.65 mAssay results pending
Exploration - NW Strike388 cps over 3.35 m at 155.65 mAssay results pending
AK24-144ACKIOPod 15260806373029463265-55200500 cps over 0.25 m at 44.5 mAssay results pending
Pod 1375 cps over 10.45 m at 50.0 mAssay results pending
Pod 1300 cps over 0.1 m at 64.4 mAssay results pending
Pod 1300 cps over 0.1 m at 65.3 mAssay results pending
Exploration - NW Strike800 cps over 0.3 m at 98.75 mAssay results pending
Exploration - NW Strike350 cps over 0.55 m at 142.3 mAssay results pending
28 DDH7,372.419 DDH0 DDH

 

NOTES: East and North units are metres using NAD83 datum, UTM Zone 13N
Elevation is recorded as "metres above sea level"
Az. = Azimuth, EOH = End of hole (measured in metres)
Composite radioactivity results use 300 cps cut-off and do not contain greater than 2.0 m consecutive dilution
Composite radioactivity results for "Includes/And Includes" use 5,000 cps cut-off and do not contain greater than 2.0 m consecutive dilution
* - previously released results (July 2, 2024)
1 - includes 1.05 m lost core over interval length
2 - includes 0.9 m lost core over interval length
3 - includes 2.75 m lost core over interval length
4 - includes 4.2 m lost core over interval length

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Baselode Reports High-Grade Uranium Assays on its ACKIO Prospect

Baselode Reports High-Grade Uranium Assays on its ACKIO Prospect

  • Two drill holes intersect high-grade uranium: Both returned over 1% U₃O₈ across 1.5 metres
  • Hole AK24-118 intersected 8.5 metres of 0.59% U₃O₈, while AK24-119 returned 21.0 metres of 0.28% U₃O₈, enhancing our understanding of uranium mineralization in Pod 6
  • Baselode's ACKIO has a unique advantage that distinguishes it from its peers in the Athabasca Basin, given its shallow mineralization

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide uranium ("U3O8") assay results from 3 of 43 drill holes of the 2024 drill program on the ACKIO prospect ("ACKIO") in the Athabasca Basin ("Basin") area of northern Saskatchewan.

"Baselode's ACKIO prospect stands out among its peers due to the shallow depth of its mineralization, especially compared to the much deeper deposits elsewhere in the Basin. We are highly encouraged by the results from holes AK24-118 and AK24-119, as they are the best intersections in Pod 6 and rank among the top 20 drill holes at ACKIO. These results strengthen our confidence in ACKIO. It's remarkable that, just over three years after discovering ACKIO, we're still achieving better-than-expected grades and widths," commented James Sykes, CEO, President, and Director of Baselode."

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Baselode Defines the Significance of Massive Clay Alteration System Identified on Hook Uranium Project

Baselode Defines the Significance of Massive Clay Alteration System Identified on Hook Uranium Project

  • Five drill holes outlined an open massive hydrothermal clay alteration system measuring at least 200 m x 100 m, resembling alteration found in Athabasca high-grade uranium deposits
  • Radioactivity within the clay alteration system increases with depth and remains open
  • Drill hole HK24-010 intersected 13.4 metres of continuous radioactivity within a 200 m wide alteration system
  • New defined target areas are within 6 km of near-surface ACKIO uranium prospect

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide results and findings from the exploration and discovery portion of the drill program on Hook project ("Hook") in the Athabasca Basin area of northern Saskatchewan.

"These results represent an important discovery on our Hook project. While we've already made a discovery at Hook with ACKIO, this is only a small part of the broader Hook land package. The potential on the property is substantial as Hook is an extensive project, and our discovery at ACKIO, combined with our neighbour Atha Energy's discovery in their Gemini Mineralized Zone, highlights that the region has all the geological features needed to host significant uranium deposits. More importantly, we can clearly demonstrate that this area is fertile with uranium mineralization. Large-scale alteration systems are key indicators when it comes to uranium, which tends to occur in smaller deposits relative to other minerals. We're pleased to have uncovered such a large system, exhibiting all the hallmark features needed for a new high-grade Athabasca uranium discovery," commented James Sykes, CEO, President, and Director of Baselode.

Watch this video for a detailed analysis of the two follow-up target areas and a comparison of Hook alteration systems to seven Athabasca high-grade uranium deposits that have combined over 700 million pounds of uranium.

The first alteration system the Company highlights is in the HK24-016 area, measuring more than 250 metres wide by 400 metres deep, with a core of massive clay and bleached alteration styles that measure 100 metres wide by at least 200 metres deep. These core alteration styles are important as they are the same style associated with at least three basement-hosted Athabasca high-grade uranium deposits.

The second alteration system identified in the HK24-010 area is significant due to its similarly large scale, intersecting 13 meters of continuous anomalous radioactivity within pegmatite along the margin of the fluid pathway. While assays are pending, the Company is well-funded and eager to proceed with follow-up drill plans for these high-priority exploration targets.

Hook Exploration Drill Hole Highlights

HK24-016 area

Drill holes HK24-016, HK24-017, and HK24-021 to HK24-023 were collared 5.5 kilometres southwest of ACKIO (Figure 2, Figure 3). HK24-016 intersected 140 metres of massive hydrothermal clay and bleaching alteration (the "clay alteration") within a broader 370 m thick alteration corridor (Figure 4). The drill hole intersected anomalous radioactivity associated with fracture-controlled remobilized hematite alteration within the clay alteration (Figure 5).

Both HK24-017 and HK24-021 targeted the clay alteration up-dip and down-dip, with each intersecting 30 and 145 metres of clay alteration, respectively. HK24-022 was collared 100 metres southeast of HK24-016 and intersected 60 metres of clay alteration, and HK24-023 was collared 50 metres northeast and intersected 110 metres of clay alteration. Initial observations suggests follow-up drilling is required beneath HK24-021 and to the north of HK24-023.

The clay alteration encountered within these Hook drill holes (Figure 6) share numerous similarities to massive hydrothermal clay alteration systems observed in Athabasca basement-hosted, high-grade uranium systems, such as Cameco's Millennium and Eagle Point deposits, Uranium Energy Corp's Roughrider deposits, and Denison Mines' Gryphon deposit.

The upper outer halo of the clay alteration is further identified with unique limonite liesegang banding and fracture-controlled alteration, including a distinct quartz stockwork. These are also similar outer halo alteration styles that have been observed within large-scale Athabasca uranium deposits.

HK24-010 area

Drill holes HK24-009 and HK24-010 were collared 6 kilometres northeast of ACKIO (see Figure 2, Figure 7). Details of these drill holes were initially released on July 17, 2024. HK24-010 has returned the best radioactive intersection outside of Baselode's near-surface ACKIO uranium prospect with 13.2 metres of continuous anomalous radioactivity starting at 186 metres beneath the surface hosted within a pegmatite along the western margin of a 200 m-wide, structurally-controlled, hematite and bleached alteration system. The area remains open in all directions.

Drill hole samples have been sent to Saskatchewan Research Council for uranium and multi-element analysis. Results will be released after being received and reviewed by the Company.

NOTES:

  1. cps* = "counts-per-second", as measured with a handheld RS-125 Gamma-Ray Spectrometer/Scintillometer ("RS-125"). The reader is cautioned that Baselode uses scintillometer readings as a preliminary indication for the presence of radioactive materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly to quantify or qualify uranium concentrations of the rock samples measured.
  2. The Company defines groupings of RS-125 as i) background radioactivity (50 to 200 cps), ii) above-background radioactivity (200 to 300 cps), and iii) anomalous radioactivity (300 to 1,000 cps).
  3. "Radioactivity (>300 cps)" in Table 1 is defined as drill core length with no greater than 2.0 m of consecutive drill hole length measuring less than 300 cps.
  4. All reported drill hole depths and lengths do not represent true thicknesses.

About Baselode Energy Corp.

Baselode controls 100% of approximately 238,930 hectares for exploration in the Athabasca Basin area of northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

The Company discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.

Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside 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.

QP Statement

The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

For further information, please contact:

James Sykes, CEO, President and Director
Baselode Energy Corp.
jsykes@oregroup.ca
306-221-8717
www.baselode.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedarplus.ca.

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, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

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FIGURE 1 - Baselode projects location map. ACKIO uranium prospect identified with yellow circle.

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https://images.newsfilecorp.com/files/6412/224182_480ec88df46cda96_001full.jpg

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FIGURE 2 - Drill holes (HK24-009 to HK24-023) location map

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https://images.newsfilecorp.com/files/6412/224182_480ec88df46cda96_002full.jpg

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FIGURE 3 - HK24-016 target area drill holes (HK24-016, HK24-017, and HK24-021 to HK24-023) location map

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FIGURE 4 - Cross-section interpretation of large hydrothermal fluid system with core massive clay and bleaching alteration (blue)

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FIGURE 5 - Fracture-controlled, hydrothermal remobilized anomalous radioactivity, HK24-016

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FIGURE 6 - Massive clay and bleaching alteration system, HK24-021. NOTE: clay has been gouged with carbon scribe to demonstrate drill core softness

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FIGURE 7 - HK24-010 target area drill holes (HK24-009 and HK24-010) location map

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MOVIE 1 - Clay alteration and bleaching identified within drill hole HK24-021

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NASDAQ:EU
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www.encoreuranium.com

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