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Baselode Reports High-Grade Uranium and Rare Earth Element Mineralization at Surface on the Catharsis and Hook Projects

Baselode Reports High-Grade Uranium and Rare Earth Element Mineralization at Surface on the Catharsis and Hook Projects
Canada NewsWire
TORONTO, Dec. 30, 2021

TORONTO, Dec. 30, 2021 /CNW/ – Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (“…

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Baselode Reports High-Grade Uranium and Rare Earth Element Mineralization at Surface on the Catharsis and Hook Projects

Canada NewsWire

TORONTO, Dec. 30, 2021 /CNW/ – Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (“Baselode” or the “Company“) is pleased to report the surface sample results from the summer prospecting work completed over the Catharsis (“Catharsis“) and Hook (“Hook“) projects, Athabasca Basin area, northern Saskatchewan.

Highlights include (see Table 1):

  • A channel sample at Hook returned high-grade* Uranium and Rare Earth Elements (“REE”) with 1.33 wt% U3O8 and 1.84 wt% Total Rare Earth Oxides (“TREO”) over 0.4 m
  • Four grab samples from Catharsis returned encouraging REE results with up to 2.14 wt% TREO
  • All of the samples reported have consistently high concentration of critical REE, including heavy REE enrichment at Hook.

“The REE-enrichment on the Catharsis and Hook was unexpected but well-received.  We’re encouraged by these findings as they suggest our projects are exposed to a broader and larger minerals systems, including high-grade uranium and REE exploration potential. REE are considered “critical minerals”, or those that are under high demand with scarce source of supply, by Canada, United States of America, Australia and European Union. REE products are highly sought for their unique qualities that have enabled rapid evolution of high-tech equipment and products, including modern solar panels, wind farms, electric vehicles, and cell phones.” said James Sykes, CEO, President and Director of Baselode. 

VIEW BASELODE’S WEBINAR: 
VIDEO 7 – REE & WHAT DOES THAT MEAN FOR BASELODE

Catharsis Results
The summer field exploration crew covered a large swathe of land and visited more than 100 outcrops on Catharsis (see Figure 1). A total of 26 samples were removed from twenty-one individual outcrops for either radiometric determination or background lithological chemistry. Four samples from three outcrops returned encouraging REE results ranging from 0.54 wt% TREO to 2.14 wt% TREO (see Table 1). All four samples had a critical REE concentration (“CREO“)1 comprising between 23 to 26% of the TREO, with the CREO portion being dominated by praseodymium (Pr6O11) and neodymium (Nd2O3). CREO are the most sought-after and valuable of the REE in the current market because of their importance fabricating high-strength magnets. The remaining 22 samples did not have any anomalous uranium or REE values to report.

Samples 4 and 8 occur along the same regional lithological trend but are separated by approximately 10 km. Sample 4 was removed from a radioactive biotite schist (>80% biotite) within a small island outcrop. The biotite schist rock is very similar to other known high-grade REE occurrences in Saskatchewan. Sample 8 was removed from an outcrop hosting metasedimentary gneiss inundated with pegmatite veins, the latter being the sampled radioactive material.

Both samples 30 & 31 were removed from different locations along a newly discovered radiometric anomaly measuring 250 m long, approximately 1 to 5 m wide at the lithological contact between metasedimentary gneiss and a granitic unit to the west. The radioactive trend was not followed further as the outcrop becomes lost beneath overburden and vegetative cover along strike directions. The discovery is significant because it’s on trend with a number of historic high-grade uranium surface showings. 

Hook Results
Outcrops at Hook were not as frequent as those at Catharsis, but the summer field crew was able to visit a number of priority targets defined by an airborne radiometric survey (the “Survey“). Most of the anomalies identied by the Survey were boulder patches and were not sampled. 

The strongest radiometric anomaly identified in the Survey was located in outcrop and sampled (see Figure 2). A 0.5 m long channel sample was cut and returned 1.33 wt% U3O8 and 1.84 wt% TREO over 0.4 m. The results are encouraging as they returned similar TREO values as those reported by Valor Resources Limited (ASX: VAL) on October 5, 2021. Baselode considers the overall Hook area potentially significant for a new high-grade uranium and REE minerals system in Saskatchewan.

The Hook channel sample has a CREO concentration comprising 19% of the TREO. Although lower than the samples from Catharsis and still enriched with praseodymium (Pr6O11) and neodymium (Nd2O3), of particular interest is that the CREO for these samples are more enriched in terbium (Tb4O7) and dysprosium (Dy2O3) than the Catharsis results. Terbium and dysprosium are the most valuable CREO by USD$/kg. 

Hook/ACKIO Diamond Drilling Results
Assay results from the remaining drill holes (AK21-02A to AK21-04) completed on ACKIO have been received, quality checked, and approved by the Company’s technical team. A news release will follow in the coming weeks once the technical team has fully evaluated and interpreted the results.

Planned Winter Drill Program on ACKIO
Baselode is planning for a 10,000 metre diamond drill program on the ACKIO discovery to begin in mid- to late-January. Drill holes will be planned to intersect mineralization along strike and dip, which remains open in all directions, and to test for unconformity-style of mineralization. The drill program will be operated with helicopter support to lessen any ground-induced environmental impacts within the project area. 

ACKIO is located 30 km southeast of well-established infrastructure including an all-season road and powerline that runs between Cameco Corp.’s (TSX: CCO) and Orano’s McArthur River mine and Key Lake Uranium mill joint ventures.  ACKIO is located 70 km northeast of the Key Lake mill. 

NOTES:

Baselode considers “high-grade” to be uranium mineralization with a concentration greater than 0.5 wt% U3O8 and REE mineralization with a concentration greater than 1.5 wt% TREO

1.

Critical REE concentration (CREO) is the sum of Pr6O11+Nd2O3+Tb4O7+Dy2O3.  

About Baselode Energy Corp.
Baselode currently controls 100% of approximately 227,000 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.  The high-grade uranium ACKIO discovery was announced on September 29, 2021.  Advancing and developing ACKIO is the Company’s primary focus.

Baselode’s Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of the Athabasca Basin. The exploration thesis is further complemented by the Company’s preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.

QP Statement
The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a  Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company’s filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedar.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

TABLE 1: CATHARSIS & HOOK – SUMMER 2021 PROSPECTING U3O8 AND REO RESULTS

Project

Sample Number

Line

From (m)

To (m)

Interval (m)

U3O8 wt%

La2O3 wt%

CeO2 wt%

Pr6O11 wt%

Nd2O3 wt%

Sm2O3 wt%

Eu2O3 wt%

Gd2O3 wt%

Tb4O7 wt%

Dy2O3 wt%

Ho2O3 wt%

Er2O3 wt%

Yb2O3 wt%

Y2O3 wt%

TREO wt%

CREO wt%

Catharsis

4

Outcrop (Grab)

N/A

0.00

0.502

1.034

0.111

0.373

0.048

0.000

0.022

0.003

0.010

0.001

0.002

0.001

0.034

2.142

0.496

Catharsis

8

Outcrop (Grab)

N/A

0.00

0.183

0.350

0.042

0.135

0.023

0.000

0.012

0.002

0.006

0.001

0.002

0.002

0.034

0.792

0.185

Catharsis

30

Outcrop (Grab)

N/A

0.00

0.112

0.236

0.029

0.108

0.016

0.001

0.012

0.002

0.006

0.001

0.001

0.001

0.021

0.544

0.144

Catharsis

31

Outcrop (Grab)

N/A

0.00

0.178

0.372

0.040

0.170

0.025

0.001

0.018

0.002

0.008

0.001

0.002

0.001

0.032

0.851

0.222

Hook

Channel Sample

0.10

0.50

0.40

1.33

0.148

0.415

0.051

0.179

0.039

0.001

0.047

0.010

0.109

0.018

0.083

0.073

0.667

1.840

0.350

CLICK HERE FOR FIGURE 1: CATHARSIS – SUMMER 2021 PROSPECTING SAMPLE LOCATIONS

CLICK HERE FOR FIGURE 2: HOOK – SUMMER 2021 PROSPECTING SAMPLE LOCATIONS

SOURCE Baselode Energy Corp.


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Energy & Critical Metals

Nio Has Big Plans for 2022, But the Nio Stock Recovery Might Take Longer

Investors in the Chinese electric vehicle (EV) group Nio (NYSE:NIO) stock have been scratching their heads amidst the year-long decline. On Feb. 10, 2021,…

Investors in the Chinese electric vehicle (EV) group Nio (NYSE:NIO) stock have been scratching their heads amidst the year-long decline. On Feb. 10, 2021, NIO stock hit a peak of $64.60 — a price that is now in the rearview mirror.

Source: Robert Way / Shutterstock.com

Then, Nio shares saw a 52-week low of $27.52 in late December and closed at $29.12 on Jan. 20, down 48% in the last 12 months and 4.5% year-to-date (YTD). By comparison, the S&P Kensho Electric Vehicles Index has dropped 21.6% in the past 52 weeks and 6.8% YTD.

Despite the decline in shares of many EV names, the industry is growing. For instance, new-energy vehicles (NEV) sales in China, the largest EV market in the world, is expected to exceed 5 million units in 2022. And EV sales should comprise over 30% of the nation’s auto market, reaching at least 7 million units, by 2025.

Meanwhile, Chinese authorities are reducing EV subsidies for 2022 and will withdraw them completely in 2023. Moreover, the government has recently removed a long-standing mandate and now allows for “full foreign ownership of passenger car manufacturing” in China.

Puzzled by the extended downtrend, investors of NIO stock wonder what could be in store for the company in 2022. Despite the positive industry outlook, fierce competition and stringent regulations could create further headwinds for NIO. Thus, investors might want to wait on the sidelines for the short-term.

Nio’s Q3 Performance

Founded in 2014, the China-based EV group Nio aims to differentiate itself through its battery swapping solutions, Battery as a Service (BaaS) and Autonomous Driving as a Service (ADaaS).

Management issued Q3 financial results in early November. Revenue soared 116.6% year-over-year (YoY) to 9,805.3 million RMB, or $1.5 billion. Total EV deliveries reached 24,439 vehicles, up 100.2% compared to year-ago quarter.

Net loss attributable to NIO’s ordinary shareholders came in at 2.86 billion RMB (or $443.7 million). It went up by over 140%, mainly due to the increase in operating expenses. Cash and equivalents were 47 billion RMB, or $7.3 billion at quarter end.

On these metrics, CEO William Bin Li said, “Despite the continued supply chain volatilities, our teams and partners are working closely together to secure the supply and production for the fourth quarter of 2021.”

Meanwhile, recent delivery figures point to a record delivery of 25,034 vehicles in Q4, up 44.3% YOY. Total deliveries ended 2021 with 91,429 vehicles, up 109.1% YOY. Nio is expected to report Q4 earnings in late February.

Adding NIO Stock to Portfolios

Among 26 analysts polled, NIO stock has a consensus buy rating. Also, the consensus of 25 analysts for a 12-month median price target stands around $58.43, implying an upside potential of 95% from current levels. The 12-month price estimates for the stock range between $37.74 and $87.64.

Its trailing price-to-book (P/B) and price-to-sales (P/S) ratios stand at 11.9 and 8.5, respectively. By comparison, these metrics for Tesla (NASDAQ:TSLA) are a P/B of 37.8 and a P/S of 24.7.

Put another way, despite the recent decline, NIO shares still look frothy by traditional valuation metrics. The same holds true for TSLA stock as well.

Yet the company gets significant attention due to its growth potential. Thus, despite the ongoing negative market sentiment, investors might want to keep the stock on their radars with a view to buy around $29, or even below.

Meanwhile, interested readers could also consider investing in an exchange-traded fund (ETF) that also holds NIO stock. Examples include the First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN), the Invesco PureBeta FTSE Emerging Markets ETF (BATS:PBEE), the KraneShares MSCI China Clean Technology ETF (NYSEARCA:KGRN) or the VanEck Vectors Low Carbon Energy ETF (NYSEARCA:SMOG).

Bottom Line on NIO Stock

Currently, NIO is one of the top-selling EV manufacturers in China. It sells a number of car models including a coupe sports car and three SUV models. Since last September, Nio has been selling its ES8 model in Norway as well. The company plans to expand into five more countries in Europe in 2022 and more than 25 countries worldwide by 2025.

Also, this year management is launching two new models. The luxury sedan ET7, will be available for orders as of Jan. 20. Deliveries are expected to start by late-March. The other new model, the ET5, is a midsize premium smart electric sedan. Deliveries are anticipated to commence in September 2022.

As part of these expansion plans, a second manufacturing plant is being built at NeoPark in Hefei. The facility, which will help meet the growing demand, is expected to become operational around September 2022.

In summary, Nio has a solid product line and offers tangible growth strategies. However, NIO shares could continue to come under pressure in 2022, in part due to tougher competition, higher operational costs and regulatory risks. Given the upcoming tightening moves by the Federal Reserve, investors are also taking money off the table. Therefore, NIO stock could easily continue to slip further below $30. Long-term investors might still need to be patient.

On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation.

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Energy & Critical Metals

DATS Stock Alert: The Latest Acquisition News Sending DatChat Soaring Today

It’s been a busy week for DatChat (NASDAQ:DATS), and it isn’t even over. Yesterday, the alternative social media platform announced it was venturing…

It’s been a busy week for DatChat (NASDAQ:DATS), and it isn’t even over. Yesterday, the alternative social media platform announced it was venturing into the non-fungible token (NFT) security space. Today, it took this mission a step further. DatChat has signed a letter of intent to acquire Avila Security Corporation. This move will mean significantly expanding its holdings in the blockchain and user data security spaces. DATS stock didn’t react well to the news yesterday, but the tides have shifted. Both companies have cause to celebrate today.

Source: Shutterstock

What’s Happening With DATS Stock

Yesterday began with the news of DatChat’s Web 3.0 platform initiative. While this sounded like good news, DATS stock did not initially react to it, slipping into the red. Today’s news has clued Wall Street into the fact that DatChat is making big plans to gain share of a rapidly expanding market. As of this writing, DATS stock is up 23% on the day. It shot up early and hasn’t slipped.

This morning’s gains have pushed DATS into the green by more than 40% for the week and 23% for the month. Investors saw the stock spend the final month of 2021 in decline, falling by as much as 22%. This type of growth should be reassuring.

While the deal is not yet finalized, it includes “$1 million in cash and the greater of 739,650 shares of restricted common stock.”

Why It Matters

These back-to-back announcements make one thing undeniably clear — DatChat is serious about blockchain security. The company made a name for itself by offering secure social media and messaging options. Now it has recognized that its technology can be applied to a new market, one that is ripe with potential. According to a statement released two days ago, the company is focused on building a “decentralized advertising network for Web 3.0 and Metaverse applications.”

The successful acquisition of Avila will expand DatChat’s intellectual property assets to include both blockchain-based digital rights management and object-sharing technology. The move also makes sense for the company’s communications aspect. Avila’s assets also include encrypted WebRTC real-time video and audio-streaming communications. In acquiring this little-known company, DatChat is strengthening both the old and new components of its business.

The markets for enhanced digital security in both communications and digital asset storage is booming. NFT sales are rising, but as they do, so do theft and fraud within the space. Additionally, Web 3.0 and metaverse applications are only going to help drive stock prices up as both markets heat up in 2022. InvestorPlace’s Luke Lango predicts that in 2022, metaverse stocks will see the type of growth that the electric vehicle (EV) sector did in 2021. If DatChat continues this type of progress, it could be among the metaverse stocks that are destined for growth in the year ahead.

What It Means

When a company announces two major deals in the same space within the same week, investors should pay attention. The second deal isn’t finalized, but DatChat has proven it means business when it comes to these digital expansions. It sees multiple red-hot markets, and it is strategically planning ways to secure shares of both.

NFT security, encrypted social media and metaverse technology are going to be three of the hottest sectors in 2022. If you’re bullish on any, or all three, DATS stock should be on your radar.

On the publication date, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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Energy & Critical Metals

Rivian Stock Price Predictions: Where Will RIVN Go After Hitting New Lows?

So far, 2022 continues to be a difficult year for Rivian (NASDAQ:RIVN). The electric vehicle (EV) producer recently hit an all-time low of $67.40, with…

So far, 2022 continues to be a difficult year for Rivian (NASDAQ:RIVN). The electric vehicle (EV) producer recently hit an all-time low of $67.40, with prices currently hovering slightly above that level. It seems like reasonable valuations are finally catching up to RIVN stock. As a result, investors are seeking out Rivian price predictions for 2022.

A Rivian (RIVN) sign out front of an Illinois manufacturing plant.Source: James Yarbrough / Shutterstock.com

After debuting on the Nasdaq exchange last year as the largest initial public offering (IPO) of 2021, shares of RIVN stock climbed to as high as $179. Ford (NYSE:F) was an early backer of Rivian, investing $500 million into the EV maker in 2019. In addition, Ford invested an additional $902 million during Q1 of last year. Now, these investments are paying off. The legacy automaker reported that it had earned a staggering $8.2 billion from its Rivian stake during Q4 alone.

Ford’s investment in Rivian is interesting because the two companies compete on the truck front. Ford’s flagship EV truck is the F-150 Lightning, while Rivian boasts the R1T. The competition was heightened after Ford announced last year that it would not be moving forward with plans to build an EV on Rivian’s Skateboard platform. This announcement came shortly after Ford revealed that it would be doubling its planned EV production to 600,000 vehicles per year by 2024.

Is Ford coming after Rivian’s market share after helping fund the EV startup? It certainly seems like it. With the heightened competition in mind, let’s take a look at Rivian price predictions.

RIVN Price Predictions: What’s Next for This EV Producer?

  • Bank of America has a price target of $170. Analyst John Murphy believes that Rivian is one of the most legitimate EV competitors with a business model that addresses all stages of the vehicle lifecycle. Murphy also noted that Rivian ranks “fairly well” in his AutoTech entrant analysis, meeting six of the 10 criteria.
  • Tigress Financial Partners has a price target of $147. Analyst Ivan Feinseth believes that Rivian is well-positioned to take advantage of the $9 trillion global automotive market. Furthermore, Feinseth noted that Rivian’s modular design platform provides an opportunity for the company to expand its product line and create reoccurring revenue streams.
  • Deutsche Bank has a price target of $130. Analyst Emmanuel Rosner is impressed with both Rivian’s hardware and software. On software, Rosner views “Rivian’s plan to generate lifetime recurring high-margin revenue from selling services to its installed base of vehicles as one of the most credible among automakers.” On hardware, Rosner believes that Rivian’s “flexible EV architecture supports a rapid cadence of vehicle launches” that will allow the EV maker to achieve economies of scale.
  • Finally, Rivian has an average price target of $134.36 among 14 firms with coverage of stock.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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