Basin Energy (ASX:BSN) reports 2 additional claims have been added to the Geikie Uranium Project consisting of 11.87km-square of land, bringing the total Geikie project area to 350.87km-square.
The newly staked claims are adjacent to the Preston Creek and Hourglass Lake prospects, where Basin’s maiden exploration drilling is underway. The claims were acquired through staking via the Saskatchewan Government mineral claim process.
Basin has also commissioned Geotech to provide helicopter-borne Versatile Time Domain Electromagnetic (VTEM) data over the new claim areas. Survey equipment is already within the area so no mobilisation fees will be incurred.
This data will provide consistent coverage to the existing data set acquired in Q1 2023. The VTEM system is proven in this style of exploration for uranium within the Athabasca Basin and is excellent for locating discreet conductive anomalies as well as mapping lateral and vertical variations in resistivity.
Addressing the results, Basin Energy Managing Director Pete Moorhouse says: “With Maiden drilling currently underway at Geikie, we have secured the interpreted extensions to the current drill targets via the staking of these additional claims. We eagerly await the additional VTEM data, the results of which will be compiled with any available historic exploration data and the findings from our maiden drill program to formulate the next steps for Basin.”
“With Maiden drilling currently underway at Geikie, we have secured the interpreted extensions to the current drill targets via the staking of these additional claims”
The additional claims have been added to the existing earn-in agreement between Basin Energy and CanAlaska. The company entered into an earn-in agreement with CanAlaska on 22 April 2022 pursuant to which CanAlaska granted the company the exclusive right and option to acquire an 80% interest in mineral claims across the Geikie Project) over a 3-staged earn-in.
Basin currently holds a 40% interest in the Geikie Project.
Basin Energy is a uranium exploration and development company with an interest in 3 highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada.
Write to Adam Orlando at Mining.com.au
Images: Basin Energy Ltd
