Canadian uranium hunter Baselode Energy (TSX-V:FIND) is mobilising a second drill to its Hook Project in Canada’s Athabasca Basin after the first three drill holes at the ACKIO prospect showed promise.
The $31 million market capitalised explorer reports over 30m of continuous radioactivity including up to 9,173 counts per second (cps) over 0.4m from within a broader 34m @ 907cps.
This result was returned from drill hole AK24-119, which CEO James Sykes says ranks as one of the top 10 best drill hole radioactivity intersections at ACKIO.
“Previous drill hole AK22-035 intersected 0.54% U3O8 over 7.3m in Pod 6, and we are seeing similar levels of radioactivity within AK24-118 and AK24-119 but over broader widths within the same Pod, suggesting mineralisation remains open in this area,” he says.
“ACKIO has continued to deliver encouraging results since the discovery in 2021, and we expect more promising results to follow.”
All three drill holes indicated over 20m of cumulative thickness of radioactivity, with drilling aiming to define the extent of mineralisation in Pod 6.
Up to 12,000m of drilling is planned at ACKIO, with the focus now shifting to the depth potential of the mineralised structures.
A second rig has been mobilised to the Hook Project and will begin regional exploration shortly.
Baselode will complete up to 4,000m across 15 to 20 drill holes targeting five to seven different areas identified from geophysical data.
Once the regional drilling program is complete, the rig will move to the ACKIO prospect to complete drilling there.
The ACKIO prospect extends for 375m along strike, is over 150m wide and comprises at least nine separate uranium pods.
Baselode says mineralisation starts as close as 28m and 32m beneath the surface in pods 1 and 7, respectively, and runs down to about 300m depth. The bulk of mineralisation occurs in the upper 120m.
The ACKIO prospect remains open at depth, and to the north, south and east.
Write to Angela East at Mining.com.au
Images: Baselode Energy
