Basin Energy

Priority Targets Identified At Marshall Uranium Project

Basin Energy Limited (ASX:BSN) (‘Basin’ or the ‘Company’) is pleased to provide an update on its Marshall Project (the ‘Project’) located in the southeastern part of the world-class Athabasca Basin (Figure 1).


Key Highlights

  • 3D inversion of historical geophysical datasets completed1
    • Multiple priority anomalies identified above and below the Athabasca unconformity in both sandstone and basement stratigraphy at Marshall
  • Positive uranium market sentiment continues to build, with U3O8 SPOT price exceeding US$70/Lb
  • Work continues at Geikie Project following maiden drilling program, with airborne gravity survey results expected in October
  • Basin remains funded for next round of exploration drilling
As part of our ongoing assessment of the Project, the Company engaged geophysical experts Computational Geosciences Inc. and Convolutions Geoscience to conduct modern 3D inversion and processing works of historic geophysical data. This work has identified multiple geophysical anomalies above and below the Athabasca unconformity within the sandstone and basement stratigraphy at the Marshall Project. The identification of these anomalies is highly encouraging given that little exploration has ever been conducted on these tenements. Basin will utilise these interpretations as a basis for future exploration works, in conjunction with the ongoing works at Geikie.

Basin’s Managing Director, Pete Moorhouse, commented “Basin has continued advancing the Marshall Project through the reprocessing of historic geophysical data – this is a continuation of the recently updated work at North Millennium which identified a significant unconformity target.

The identified sandstone conductivity anomalies, with corresponding basement anomalies provide immediate targets for Athabasca unconformity and basement hosted uranium mineralisation exploration and we are very excited with the results from the review of the historical data.

Combined with Basin’s recent work at North Millennium, the studies support our prospectivity analysis for this area, located within the heartland of the traditional uranium discoveries of the eastern Athabasca.

With U3O8 spot prices continuing to surge, we are positioning Basin in the enviable position of having multiple top-quality exploration targets in the world’s best uranium jurisdiction.”

Figure 1: North Millennium and Marshall tenements with neighbouring tenements and uranium deposits.


Current Interpretation of the Marshall Project

The 100% owned Marshall project is located in the southeastern portion of the Athabasca Basin and situated 11 km west of the Millennium deposit, around 50 km southwest of the McArthur River mine.

Minimal historical mineral exploration at the Project occurred between 1979 to 2012, and there are no known historical exploration drill holes. Historical geophysical exploration work was limited to regional- scale airborne surveys, and small-scale airborne and ground-based electromagnetic surveys.

The depth of the unconformity is estimated to be between 700 and 900 metres. Z‐Tipper Axis Electromagnetics (“ZTEM”) was the only geophysical method used to date that appears to accurately detect the location of graphitic basement conductors.

The Marshall Project is centred on an arc-shape magnetic low feature outlined by airborne and ground geophysics. Interpretation of ZTEM and Transient Electromagnetic survey data shows conductive anomalies along the edge of the magnetic low and suggests a deep-rooted fold bearing conductive layers.

Figure 2: Marshall Project Exploration Plans (left) and Cameco’s Millennium Deposit type section (right)3.

3D Inversion of ZTEM data

Computational Geosciences Inc. was contracted to invert a ZTEM dataset collected over Kodiak Exploration’s historical McTavish project partially covering the Marshall mineral claims (Figure 3 and 4). ZTEM is an airborne electromagnetic geophysical technique which detects anomalies in the earth’s natural magnetic field. ZTEM surveys are designed to map resistivity contrasts to great depths, exceeding 1-2 km, making the technique well-suited to unconformity related uranium mineralisation exploration in the Marshall Project area.

3D models of electric conductivity have been produced, accounting for survey geometry and topography, and constrained by a basin-wide unconformity surface. The ZTEM inversion model 200 m below the modelled unconformity surface shows strong conductive anomalies along the edge of the magnetic low (Figure 3) Basin is currently interpreting this arc-shape feature as a deep-rooted fold reminiscent of Mudjatik deformation events. In addition to this, the data highlights a set of north northwest conductive anomalies which are interpreted as possible cross-cutting conductive structures. ZTEM 3D inversion 200 m above the unconformity (Figure 4) shows a number of relative conductivity anomalies in the sandstone, including a NE-SW structure set also highlighted by magnetic data. Basin interprets this to represent the potential presence of alteration within the sandstone, which could have been caused by mineralizing fluids breaching the unconformity contact.


Click here for the full ASX Release

This article includes content from Basin Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Developing High-Grade Uranium Projects in the Athabasca Basin

Acquires Extensive Uranium and Rare Earth Portfolio

Acquires Extensive Uranium and Rare Earth Portfolio

Basin Energy (BSN:AU) has announced Acquires Extensive Uranium and Rare Earth Portfolio

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Basin Energy Ltd  Investor Webinar and Presentation

Basin Energy Ltd Investor Webinar and Presentation

Perth, Australia (ABN Newswire) - Basin Energy Limited (ASX:BSN) (OTCMKTS:BSNEF) is pleased to invite shareholders and investors to an investor webinar where Managing Director, Pete Moorhouse will provide a Company update following the recently acquired extensive uranium and rare earth portfolio in Queensland and outline upcoming exploration plans.

DETAILS

Date: Thursday, 28 August 2025
Time: 11:30AM AEST / 9:30AM AWST

Registration:
https://www.abnnewswire.net/lnk/66GZ5R65

Participants will be able to submit questions via the panel throughout the presentation, however we highly encourage attendees to submit questions beforehand via chloe@janemorganmanagement.com.au

To view the Presentation, please visit:
https://www.abnnewswire.net/lnk/3Z6Y66N7



About Basin Energy Ltd:

Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.



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Basin Energy Ltd

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Basin Energy Ltd  Acquires Extensive Uranium and Rare Earth Portfolio

Basin Energy Ltd Acquires Extensive Uranium and Rare Earth Portfolio

Perth, Australia (ABN Newswire) - Basin Energy Limited (ASX:BSN) (OTCMKTS:BSNEF) is pleased to announce that it has entered into a binding agreement to acquire 100% of the issued capital of NeoDys Limited ("NeoDys"), a privately held critical minerals explorer with a dominant landholding in the Mount Isa region of northwest Queensland.

Key Highlights

- Binding agreement to acquire the largest prospective uranium and rare earth packages in Queensland, adjacent to Paladin Energy Limited's (ASX:PDN) Valhalla uranium deposit and Red Metal Limited's (ASX:RDM) Sybella rare earth discovery [1*]

- Early stage exploration supports three distinct, drill-ready exploration models, each amenable to low-cost shallow drilling:

o AEM geophysical survey previously reported identified extensive paleochannel network adjacent to the Sybella uranium "hot" granite.

o Significant hard rock granite rare earth element potential, analogous to Red Metal's Sybella discovery. Recent auger drill sampling returned numerous significant results including 5 m @ 1,951 ppm TREO with 578 ppm Nd+Pr oxide, incl. 3 m @ 705 ppm Nd+Pr oxide.

o District-scale sediment-hosted ionic clay rare earth potential with $150,000 Queensland Government funding in place to fastrack drilling. Soil sampling completed with numerous samped returning >600 ppm TREO with a maximum of 653 ppm TREO.

- Additional Valhalla-style uranium targets with multiple untested radiometric anomalies, in proximity to Valhalla, Skal and Odin deposits which host a combined 116 Mlbs U3O8 [2*]

- The Company has received firm commitments from institutional and sophisticated investors to raise $1.25 million at $0.025 per share, representing a 9% premium to 20 day VWAP.

- With the oversubscribed placement along with the Queensland grant, Basin Energy is fully funded to test these drill-ready high priority targets, enabling the Company to fast-track multiple uranium and rare earth drill programs.

- Detailed targeting and drill planning is underway with exploration planned to commence in Q4 2025 to test shallow, high priority targets via aircore and reverse circulation drilling.

Managing Director, Pete Moorhouse commented:

"This acquisition propels Basin into Australia's uranium and rare earth exploration landscape. These projects deliver exceptional geology, strategic scale and compelling upside across two of the most critical mineral sectors of the energy transition. With drill-ready targets and a low-cost structure, this portfolio is primed to deliver value for shareholders. Over the next 6 months, Basin Energy will be drilling the first holes on three district-scale opportunities for uranium and rare earth deposits in Northwest Queensland.

The Company is delighted with the strong interest in the capital raising. On behalf of the Board, I welcome our new shareholders, and thank existing shareholders for their continued support at an exciting time of development for the Company. We will be holding a webinar to walk through the projects on 28th August and encourage people to log in and learn more about this opportunity."

Overview

This acquisition provides Basin with a commanding position over one of Australia's emerging and underexplored provinces for uranium and rare earth elements ("REE"), leveraging the recent Sybella rare earth discovery by Red Metal Limited (ASX:RDM) and the prospectivity of the adjacent Barkly Tableland.

Basin now holds 5,958 km2 of exploration tenure in the Mount Isa district of northwest Queensland. The projects provide compelling walk-up drill targets that can be rapidly and cost-effectively tested using air core and reverse circulation (RC) drilling. NeoDys have an existing Queensland Government Collaborative Exploration Initiative funding agreement for $150,000, available for Basin to support upcoming drilling programs.

The drill-ready, district scale targets include:

- Paleochannel roll front uranium (1*)

- Sediment and ionic clay hosted rare earth elements (2*)

- Hard rock, granite hosted rare earth elements (3*)

In addition to these three district-scale targets, the project area contains multiple shear-hosted Valhallastyle uranium targets defined for immediate assessment.

The primary model is based on mineralisation sourced from the various granites of the Sybella Batholith ("the Sybella"), a large north-south trending igneous body containing zones enriched in rare earth elements. This includes the Red Metal (ASX:RDM) Sybella Discovery with a recent JORC inferred resource estimate of 4.795 Bt at 302 ppm NdPr, 28 ppm DyTb (200 ppm NdPr cut-off) or 209 Mt at 377 ppm NdPr, 34 ppm DyTb (360 ppm NdPr cut-off) [1*]. The Sybella granites are also uranium rich, potentially being the source of Paladin Energy's (ASX:PDN) Valhalla deposits[2*] .

Terms of the Share Placement

The Company has received firm commitments to raise $1.25 million, by way of a two-tranche share placement ("Placement") of 50 million shares at an issue price of $0.025 per share. The Placement price represents the Company's last market close price, and a 9.1% premium to the 20-day VWAP.

Tranche two will be subject to a general meeting, to be called shortly and expected in early October.

The offer was significantly oversubscribed, with proceeds to be allocated as follows:

- Air core drilling on the Barkly Tablelands uranium and REE targets

- RC drilling at the Newmans Bore granite-hosted REE target

- Mapping and sampling of the West Valhalla Radiometric targets

- General working capital.

The Placement was managed internally and was not subject to broker fees.

To view the full announcement, please visit:
https://abnnewswire.net/lnk/3833C16P



About Basin Energy Ltd:

Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.



Source:
Basin Energy Ltd

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Basin Energy

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