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Baselode Reports High-Grade Uranium Within 15.5 Metre Mineralized Zone at ACKIO Discovery

Baselode Reports High-Grade Uranium Within 15.5 Metre Mineralized Zone at ACKIO Discovery
Canada NewsWire
TORONTO, Dec. 6, 2021

TORONTO, Dec. 6, 2021 /CNW/ – Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (“Baselode” or the “Company”) is pleased…

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Baselode Reports High-Grade Uranium Within 15.5 Metre Mineralized Zone at ACKIO Discovery

Canada NewsWire

TORONTO, Dec. 6, 2021 /CNW/ – Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (“Baselode” or the “Company“) is pleased to report Uranium assay results from the first diamond drill hole, AK21-01, of the recent ACKIO Uranium discovery (“ACKIO“) on the Hook project (“Hook“), Athabasca Basin area, northern Saskatchewan.

Highlights include:

  • High-grade* Uranium confirmed; 1.29 wt% U3O8 over 0.5 m at 138.8 m and 0.66 wt% U3O8 over 0.5 m at 142.3 m
  • Primary mineralized zone measuring 15.5 m of 0.13 wt% U3O8 starting at 134.3 m
  • Multiple uranium intersections occurring over 200 m of drill hole length.

“We are very excited with the confirmation of high-grade Uranium at ACKIO. The ACKIO discovery is beginning to take shape; with high-grade Uranium intersected near-surface, multiple and widespread zones of mineralization, and an alteration halo that exceeds over 230 m which is suggestive of a massive structurally-controlled fluid system.  We are still in the early days of exploring and learning more about ACKIO but these assay results from AK21-01 have provided us with invaluable information to help us plan our next steps accordingly,” said James Sykes, CEO, President and Director of Baselode. 

The Company will follow this news release with a video presentation for the public in the coming days that will provide encouraging comparisons with other notable Athabasca basement-hosted, high-grade Uranium deposits, such as 1) NexGen Energy‘s (TSX:NXE) Arrow deposit, and 2) Denison Mines (TSX:DML) Gryphon deposit.  The video presentation will also highlight the significance of elevated Cobalt, Copper, and Nickel intersected within the drill hole, as well as the extent and meaning of anomalous Boron, Lithium and Vanadium within the massive alteration halo.

Assay results from the remaining drill holes (AK21-02A to AK21-04) completed on ACKIO in the summer program will be released after they’ve all been received, quality checked, and approved by the Company’s technical team.

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

1.    All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined.

 

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.

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., Projects Manager 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: HOOK PROJECT – SUMMER 2021 DRILL HOLE U3O8 ASSAY RESULTS

 

DDH*

Target
Area

Az*

Dip

EOH*
(m)

Easting

Northing

Elevation

 

AK21-01

ACKIO

270

-60

471.0

526,245

6,372,955

467

 
     

From
(m)

To (m)

Interval (m)

Vertical
Depth (m)

U3O8 (wt%)

 
     

126.80

128.80

2.00

108.50

0.05

 
     

130.30

130.80

0.50

111.50

0.06

 
     

134.30

149.80

15.50

115.00

0.13

 
   

includes

138.80

139.30

0.50

118.90

1.29

 
   

and

142.30

142.80

0.50

121.90

0.66

 
     

284.60

285.80

1.20

244.40

0.06

 
     

366.70

367.70

1.00

315.50

0.05

 
     

368.80

369.20

0.40

317.30

0.06

 

Cut-off grade = 0.045 wt% U3O8

Maximum consecutive internal dilution = 2.0 m down hole

True widths have yet to be determined

*”DDH” refers to “diamond drill hole”, “Az” refers to “drill hole azimuth” and “EOH” refers to “End of Hole”

“Easting”, “Northing” are both measured in metres, NAD83 Datum, UTM Zone 13N

“Elevation” is presented as “metres above sea level”

“Vertical Depth” is presented as “metres below surface”

 

SOURCE Baselode Energy Corp.

drilling drill program drill hole tsx-dml denison-mines-corp tsx-nxe nexgen-energy-ltd tsxv-find baselode-energy-corp baselode energy corp press-release

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Energy & Critical Metals

Machine Safety Fences Sales Market 2021 Key Players, SWOT Analysis, Key Indicators and Forecast to 2028

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Energy & Critical Metals

Rivian Stock Alert: RIVN Shares Just Lost Out on Market Cap to LCID Stock

Step aside, Rivian (NASDAQ:RIVN)! There’s a new electric vehicle (EV) startup leader based on market capitalization, and its name is Lucid (NASDAQ:LCID)….

Step aside, Rivian (NASDAQ:RIVN)! There’s a new electric vehicle (EV) startup leader based on market capitalization, and its name is Lucid (NASDAQ:LCID). Recently, Lucid’s market cap of $62 billion surpassed Rivian’s market cap of $58 billion. After Rivian ballooned to as high as $179 following its initial public offering (IPO), shares have slumped lower to the mid-$60 range. Furthermore, shares of RIVN stock are down more than 35% year-to-date (YTD). While LCID stock is down roughly 7% YTD, Lucid’s superior YTD performance has allowed Lucid to surpass Rivian in terms of market cap.

Rivian sign outside the company's HQ in Silicon ValleySource: Michael Vi / Shutterstock

Both Rivian and Lucid offer investors an opportunity to invest in an early stage EV startup. However, the valuation of these two names is what is holding some investors back. Furthermore, competition from legacy automakers like Ford (NYSE:F) and General Motors (NYSE:GM) is also heating up. On top of that, investors should be aware of the elephant in the room, namely Tesla (NASDAQ:TSLA).

Last quarter, Rivian reported revenue of $1 million on top of a $1.23 billion loss. On the other hand, Lucid reported revenue of $232,000 with a $524.4 million loss. While these two EV makers remain unprofitable, investors should be reminded that it took Tesla 18 years to become profitable. Tesla achieved this accomplishment in 2020 and delivered 500,000 vehicles that year.

What’s Next As Lucid Overtakes Rivian Stock

An investor should also factor potential growth into their investment thesis. Rivian currently has 71,000 reservations for the R1T and R1S models. Meanwhile, Lucid has 17,000 reservations for its Air sedan, representing a book value of $1.3 billion. Lucid has also confirmed its goal of producing 20,000 vehicles in 2022. Furthermore, CEO Peter Rawlinson is “confident in our ability” to achieve the goal.

Rivian has not yet released a 2022 production goal, although the EV maker stated that it expects its 2021 target of 1,200 vehicles produced to fall “a few hundred vehicles short.” Rivian is also working on a new $5 billion EV plant in Georgia. Construction for the plant will start this year, with a finalization date set for 2024. The new plant is expected to be able to produce 400,000 vehicles per year. However, building new plants isn’t cheap, and Rivian is expected to report $8 billion of capital expenditures through 2023.

Both companies are currently spending billions of dollars to power future growth. Investors will want to keep up to date with reservation reports and company updates as these two EV producers try to make a name for themselves.

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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Author: Eddie Pan

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Energy & Critical Metals

What Will Be China’s Impact On Uranium Markets? – The Daily Dive

Coming back to the Daily Dive is Joe Kelly, CEO of Uranium Markets. He joins us to talk about the
The post What Will Be China’s Impact On Uranium Markets?…

Coming back to the Daily Dive is Joe Kelly, CEO of Uranium Markets. He joins us to talk about the impact of Kazahkstan on the uranium market (0:54), Japan’s play for the nuclear power (4:41), and the prospect of US giving tax credit to nuclear firms (5:53). Joe also discusses China’s shift from coal to nuclear on the uranium space (7:29), the effect of Belgium shutting its nuclear plants (9:28), and his outlook for uranium in 2022 (10:48).

Uranium Markets has a full-service nuclear fuels brokerage desk assisting its customers to optimize their positions in the uranium market. The firm takes pride in combining its strong financial brokerage experience and a deep understanding of the uranium marketplace.


The author has no securities or affiliations related to any organization mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post What Will Be China’s Impact On Uranium Markets? – The Daily Dive appeared first on the deep dive.


Author: Jay Lutz

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