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.


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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

Mineralisation structures Identified at North Sweden project

Mineralisation structures Identified at North Sweden project

Basin Energy (BSN:AU) has announced Mineralisation structures Identified at North Sweden project

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Basin Energy Ltd  Mineralisation Structures Identified at North Sweden Project

Basin Energy Ltd Mineralisation Structures Identified at North Sweden Project

Perth, Australia (ABN Newswire) - Basin Energy Limited (ASX:BSN) (OTCMKTS:BSNEF) is pleased to provide an update on work at the Bjorkberget ('Bjork'), Ravaberget ('Rava') and Virka green energy metals projects (collectively the "North Sweden Projects"), refer to figure 5*.

Basin Identifies Structures Associated with Mineralisation at North Sweden Projects

Key Highlights

- Structural relogging of 48 historical drillholes across the Virka and Bjorkberget projects completed

o Detailed structural records now available for 28 priority historical drillholes from Bjorkberget, with 137 samples currently at laboratory for multielement analysis. Additional 71 samples from Bjorkberget core are awaiting shipment to laboratory for analysis

o All Virka historical drill core has been relogged. Samples are awaiting shipment to the laboratory for sample preparation

o Mineralising structure trends clearly identified in core; associated alteration and mineral assemblage (pending analysis results) will be used as vector for future drillhole targeting

- Pulp re-analysis of 2 samples above detection limit (>2.95 U3O8) by fusion XRF from Bjorkberget 2024 field mapping return highly positive results:

o BJK004: Exceeded detection limits again returning greater than 5.9% U3O8 from granite boulder sample with visible yellow oxide staining located at the base of an outcrop

o BJK008: Returned 5.4% U3O8 from rhyolitic and fine-grained granite boulder sample with visible mineralisation and yellow oxide staining located at the base of an outcrop

Basin's Managing Director, Pete Moorhouse commented: "The structural relogging and multielement analysis results are adding a crucial modern interpretation of the variety of mineral systems at play in our North Sweden Projects portfolio. Most of the historical drillholes were shallow, and the mineralisation observed in drill core appears to not have been closed off at depth and along strike, where the potential continuations are masked by a thin veneer of glacial cover. Moreover, the final rock chip results add confirmation that an exciting mineral assemblage exists in our project area that is still largely underexplored.

Generating good quality data through the relogging and sampling of the available historical core is a cost-effective approach to unlock the full potential of the North Sweden Project portfolio."

Results have now been received from re-analysis of the two Bjork samples that returned above detection limit uranium mineralisation (>2.95% U3O8) previously reported in Basin's ASX release1 dated 13 February 2025. The options for analysis are limited in Europe, with one sample again reaching the maximum detection limit (>5.9% U3O8) and the second sample returning 5.4% U3O8 (Figure 4, Appendix 3*). No further analysis was completed on the other elements reported.

The Company continues advancing structural relogging (Figures 1 and 2) and sampling of historical drillholes at the Bjork, Rava and Virka projects with 48 drillholes relogged out of 101 total drillholes. A total of 137 samples are currently at the laboratory pending analysis. Recently, Basin has acquired multiple projects where limited government run historic exploration identified uranium mineralisation; but rarely assessed polymetallic prospectivity including rare earth, gold and base metal opportunities.

Structural logging and sampling of historical core

Relogging and sampling continues on historical drill cores for the North Sweden Projects, with 101 drillholes from the combined project areas having been located to date.

The primary focus of the relogging program is to examine the different mineralisation systems identified through historic exploration and through recent field mapping, to study the structure framework to establish potential for blind mineralisation, and to examine alteration known to be associated with mineralisation and sample relevant core intervals that may be used as a vector for future exploration.

Drill core examination comprises detailed geological and structural logging and detailed photography. These observations along with a radiometric core scan using a handheld gamma-ray spectrometer (Exploranium GR-130 Minispec) are used to define sample intervals to send to the laboratory for analysis.

Basin has completed the logging of all holes identified from Virka, along with 28 priority drillholes out of 39 at Bjork. There are currently 137 samples from Bjork at ALS Laboratory from key intervals undergoing analysis. Core samples are being analysed with multielement analysis to continue evaluating the potential for green energy metals at the Company's North Sweden Projects.

The historical core examined from the Bjork project mostly comprise a homogenous leucocratic granite composed of up to 7% mafic constituents including magnetite. Lithologies are more varied in the Virka core, comprised mostly of granite, amphibolite and porphyritic granite. Uranium mineralisation occurs together as fracture/vein infillings and disseminations on core from both projects (Figure 1, Appendix 2). Localised intervals were recorded with visible sphalerite (Figure 2) and nodular sulphides (Figure 1, Appendix 2*). Structural deformation observed in the Bjork core is almost always brittle, with a clear network of microfractures and veinlets consistently bearing magnetite/hematite with visible uraninite (Figure 1, Appendix 2*); small scale breccias and cataclasites are also noted locally.

Re-analyses of samples BJK004 & BJK008 by fusion XRF

Of the twelve samples collected at Bjork during the initial field reconnaissance visit in Q4 2024, two samples, BJK008 and BJK004, returned values above the detection for uranium (>2.95% U3O8) for the chosen ALS analysis method ME-MS89L. Both samples were from boulders with visible yellow oxide staining located at the base of an outcrop.

The pulps of these samples were re-analysed by the laboratory using fusion XRF (ME-XRF15b), which is the only other reliable high-grade uranium analysis method option available locally through ALS.

Analysis results reported (Figure 4 and appendix 3 for details*):

- BJK008 returned 5.38% U3O8

o Initial assay methods (ME-MS89L): U3O8 > 2.95% (above detection limits), Pb 1.39%, Fe 23.4%, 0.13% TREO (74% HREO)

o The sample was collected from a boulder with visible yellow oxide staining located at the base of an outcrop

- BJK004 returned above detection limit for the second analysis technique U3O8 >5.9 % from a boulder with visible yellow oxide staining located at the base of an outcrop:

o Initial assay methods (ME-MS89L): U3O8 > 2.95% (above detection limits), Pb 1.85%, 0.12% TREO (49% HREO), 522 ppm Mo
*While new analysis returned results above detection limit for sample BJK004, the Company is not planning additional analyses due to the high-grade nature of the sample.

Update on Sweden's proposed changes to uranium exploration and mining

The Swedish government announced an inquiry into overturning the uranium mining moratorium in December 2024. The inquiry recommends uranium be regulated as a concession mineral within the Swedish Mineral Act, allowing for its exploitation like other natural resources. The inquiry's findings were submitted for consultation with authorities, municipalities and other stakeholders, including a public consultation period which ended on 20 March 2025. Following the consultation, a legislative proposal will be presented to the Swedish Parliament. If approved by Parliament, the proposed legislative amendments are set to take effect by 1 January 2026. The proposal is driven by Sweden's growing need for critical metals and minerals to support the green transition, as well as by security concerns stemming from the current geopolitical landscape.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/K77A0529



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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Virka Project Sampling Returns High-Grade Mineralisation

Virka Project Sampling Returns High-Grade Mineralisation

Basin Energy (BSN:AU) has announced Virka Project Sampling Returns High-Grade Mineralisation

Download the PDF here.

Basin Energy

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