Hunt On For Near-Surface High-Grade Uranium
Baselode Energy Corp. (TSXV:FIND) has acquired the Shadow uranium property in the Athabasca Basin area of Northern Saskatchewan, Canada.
Shadow covers 41,885 hectares and is located south of the Athabasca Basin along the Virgin River Shear Zone (VRSZ). Shadow is 100% owned by Baselode and is free of any option agreement or underlying royalties.
James Sykes, CEO and President of Baselode, said the Shadow property was selected based on its favourable characteristics for potential basement-hosted uranium mineralisation. The VRSZ is one of the largest structural trends observed in Northern Saskatchewan and hosts other uranium deposits, most notably
“The Shadow property is an exciting acquisition for the company,” Mr Sykes said.
“Athabasca uranium exploration has evolved over the past few decades to focus on the role of deep-seated basement-hosted structures rather than limiting exploration to the unconformity. In doing so, new discoveries outside and within the Basin have been made, such as NexGen’s Arrow, Fission’s Triple R, and Denison’s Gryphon deposits, to name a few.
“Baselode’s thesis is exploring for near-surface, basement-hosted, high-grade uranium deposits outside of the Basin along regional deep-seated structural trends,” said James Sykes, CEO and President of Baselode.
“Our Baselode team has done an excellent job recognizing the VRSZ area as an overlooked, major structural system with similarities to the structures hosting both NexGen’s Arrow and Cameco’s McArthur River uranium deposits.
“In addition, the host rocks in the area are naturally fertile with elevated concentrations of uranium (>3x) compared to other Athabasca rock types, which is encouraging for the formation of bulk tonnage, high-grade uranium deposits.
“The Shadow property also boasts airborne radiometric highs at surface immediately adjacent to the VRSZ, which could represent favourable off-shoot structures,” Mr. Sykes continued.
The company is completing historical exploration research of the area and regional geological modelling with plans to visit the property to assess the airborne radiometric anomalies this summer.
An airborne magnetic, electromagnetic and radiometric geophysical survey is currently being planned and will provide the backbone for further detailed exploration.
Mr Sykes said Baselode anticipates having drill targets identified in the coming months to support a diamond drill programme by the end of 2020. The Shadow property was acquired at the original staking cost of C$25,100 from Charles Beaudry, a director of the company.