Basin Energy (ASX:BSN) has lodged an additional application to encompass the ground between the Björkberget and Rävaberget projects in Sweden, after undertaking field observations in Q4 2024.
During the quarter, Basin conducted initial field assessment work at Virka, Björkberget and Rävaberget, where limited historical exploration work has been documented.
The field mapping located a series of north-northeast orientated structural features, which are interpreted to be a suitable structural conduit for potential mineralisation.
A geochemical sampling program, comprising 45 grab samples, were completed. The samples have been submitted to ALS laboratories in Ireland for multi-element analysis.
Basin Energy notes the field observations uncovered prospective lithologies and structures that can be traced disappearing under a thin veneer of glacial cover.
As a result of this work, Basin Energy aims to secure the interpreted extensions of hidden structures via the additional application, which is expected to be granted in Q1 2025.
Managing Director Pete Moorhouse says the initial work at the Swedish projects has been positive and the company eagerly awaits the geochemical rock chip sampling results.
“The field identification of structural controls which disappear under a thin glacial cover is an immediate opportunity for Basin to pursue,” Moorhouse says.
“The results of these observations have compelled us to apply for an additional exploration land between the Björkberget and Rävaberget projects. If granted, this newly acquired area will double our holdings in the Arvidsjaur-Arjeplog uranium region.”
Meanwhile, during November 2024, Basin attended the Svemin Autumn summit which State Secretary Daniel Westlén, to Minister for Climate and the Environment Romina Pourmokhtari, discussed the government’s move to support the exploration sector and the critical role Sweden can play in the global push toward a carbon neutral future.
The minister stated that the ban on uranium mining will be removed.
Subsequent to this, the Swedish government announced the results of the ongoing inquiry into uranium mining. The inquiry has resumed the lifting of the uranium mining ban.
“Sweden’s government presented in mid-December the inquiry to lift the ban on uranium mining and proposed a framework for the new legislation,” Moorhouse says.
“This marks a strategic move to secure domestic access to critical resources for green energy technologies.”
Further, Basin Energy has satisfied all material conditions to the acquisition of a portfolio of projects within Scandinavia. The remaining conditions are administrative only and are expected to be satisfied imminently.
On 31 October 2024, Basin Energy executed a deal to acquire a project portfolio considered prospective for uranium, copper, gold, silver, niobium, and rare earths. The company will issue 18.47 million shares and 4.6 million options exercisable at $0.10 within three years.
Basin Energy is a green energy metals explorer and developer focused on its projects in Canada, Sweden, and Scandinavia.
Write to Aaliyah Rogan at Mining.com.au
Images: Basin Energy
