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Baselode Reports Shallow Uranium Results from Summer 2024 Drill Program

Tuesday, May 20, 2025 5:27 AM PDT
NEWSFILE
  • Six drill holes expand shallow uranium mineralization footprint in Pod 1 (i.e., within 50 metres from surface), eleven drill holes confirmed uranium starting within 100 metres from surface in three Pods
  • Shallow uranium mineralization updip of Pod 7 remains largely untested and requires further follow-up drilling

Toronto, Ontario--(Newsfile Corp. - May 20, 2025) - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to release uranium ("U3O8") assay results from all 28 drill holes of the 2024 drill program on the ACKIO prospect area ("ACKIO") in the Athabasca Basin ("Basin") area of northern Saskatchewan (Figure 1).

"We're especially encouraged with 6 drill holes intersecting uranium within 50 m from surface and 11 drill holes within 100 m from surface. These shallow mineralization results continue to demonstrate ACKIO's unique advantage in the Basin area with easily accessible, near-surface uranium. Last year's summer drill program successfully defined more shallow uranium mineralization to the north and south of our shallowest uranium zone, Pod 1. Uranium at the overburden-bedrock contact still remains open to the south and north.

"Drilling at Pods 6 and 7 intersected higher average uranium grades over greater widths than previously intersected, suggesting there's a zoned lower-grade to higher-grade uranium concentrations within those Pods. In addition, Pod 7 still requires a detailed investigation of uranium potential at the overburden-bedrock contact, which has not been tested to the same degree as Pod 1. We believe some of the higher-grade zones within Pod 7 extend up to the overburden-bedrock contact and have yet to be drill tested," commented James Sykes, CEO, President, and Director of Baselode.

Pod 1 Summary (Figure 2, Table 1)

Six drill holes (AK24-134 to AK24-137, and AK24-143 & AK24-144) intersected uranium mineralization within 50 m from surface. AK24-137 intersected 0.38% U3O8 over 9.15 m at 37.35 m drill hole depth (3.5 grade*thickness, "GT"), confirming Pod 1's uranium footprint at the overburden-bedrock contact to the south. Drill holes AK24-143 and AK24-144 successfully confirmed shallow uranium at Pod 1 to the north with 0.12% U3O8 over 11.8 m at 65.2 m drill hole depth (1.4 GT) and 0.12% U3O8 over 9.0 m at 51.5 m drill hole depth (1.1 GT), respectively.

Pod 6 Summary

As previously reported (October 3, 2024), drill hole AK24-118 intersected 8.5 metres of 0.59% U3O8 (5.0 GT), and AK24-119 returned 21.0 metres of 0.28% U3O8 (5.8 GT), ranking as the two best intersections in Pod 6, ranking amongst the top 20 drill holes at ACKIO, and enhancing our understanding of uranium mineralization controls at ACKIO.

Pod 7 Summary

Drill holes AK24-135B and AK24-138 intersected the second and third best individual uranium intersections in Pod 7 with 0.18% U3O8 over 28.0 m at 98.0 m depth (5.0 GT), and 0.19% U3O8 over 23.0 m at 81.5 m depth (4.3 GT), respectively.

In addition, two other drill holes (AK24-137 and AK24-139) rank amongst the top 10 drill intersections in Pod 7 with 2.5 GT each, and drill holes AK24-135B, AK24-137 and AK24-138 rank amongst the top 20 drill holes at ACKIO due to their combined intersections of Pod 1 and Pod 7.

Drill holes AK24-134 to AK24-139 have increased our confidence and understanding of uranium mineralization controls at Pod 7, as the system seems to be comprised of a higher-grade core with a lower-grade uranium envelope.

Pod 8 & Pod 9 Summaries

Drill hole AK24-133 intersected the second best results in Pod 8 with 0.09% U3O8 over 11.5 m at 130.5 m depth (1.0 GT).

The results from Pod 8 and Pod 9 exploration drill holes have required the company to re-consider the overall structural architecture of these specific parts of ACKIO as the uranium mineralization system was not as predictable as it is in other Pods.

Exploration results

Drill holes AK24-120 to AK24-127 and AK24-129 to AK24-130 were designed to test for depth extension, strike extensions, and unconformity-style of uranium mineralization. Although none of the drill holes intersected any new zones of uranium mineralization, they all share geochemical anomalous lead (Pb) isotope ratios, boron (B), and uranium (U), including a predominant Mg-chlorite-rich clay type.

NOTES:

All reported lengths and depths, aside from "metres from surface" are drill hole measurements and do not represent true thicknesses, which have yet to be determined.

About Baselode Energy Corp.

Baselode controls 100% of approximately 241,409 hectares for exploration in the Athabasca Basin area of northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

The Company discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.

Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside 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."

For further information, please contact:

James Sykes, CEO, President and DirectorBaselode Energy Corp.[email protected]www.baselode.com

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.sedarplus.ca.

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.

Figure 1 - Baselode projects location map. ACKIO uranium prospect identified with red triangle

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6412/252714_4cd47696b427393e_005full.jpg

Figure 2 - ACKIO area diamond drill hole collar locations and drill traces

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6412/252714_4cd47696b427393e_006full.jpg

TABLE 1 - Uranium assay results for drill holes AK24-117 to AK24-144 at the ACKIO discovery

DDHTargetEastNorthElevationAz.DipEOHRadioactivity (>300 counts-per-second, cps)Assay Results (>0.05 wt% U3O8)
AK24-117*Pod 8526142637290246590-75227368 cps over 0.45 m at 74.4 m0.09% over 0.45 m at 74.4 m
Pod 8301 cps over 1.8 m at 108.3 mNo significant results
Pod 8409 cps over 6.25 m at 117.25 m0.07% over 0.5 m at 118.0 m 0.06% over 1.0 m at 121.5 m
Pod 6426 cps over 12.55 m at 128.1 m0.07% over 7.5 m at 128.5 m 0.05% over 1.5 m at 139.0 m
Pod 6327 cps over 6.4 m at 145.2 m0.11% over 1.0 m at 145.5 m
Pod 6399 cps over 0.65 m at 160.95 m0.08% over 0.5 m at 161.0 m
AK24-118*Pod 85261426372902465118-71257456 cps over 0.8 m at 89.3 m0.15% over 0.9 m at 89.2 m
Pod 8350 cps over 0.5 m at 92.7 m0.09% over 0.3 m at 92.7 m
Pod 8392 cps over 2.6 m at 119.1 m0.09% over 1.1 m at 119.4 m
Pod 8315 cps over 3.1 m at 131.8 mNo significant results
Pod 61,115 cps over 13.3 m at 149.3 m0.06% over 0.5 m at 149.5 m 0.59% over 8.5 m at 153.0 m
Pod 6includes0.72% over 6.0 m at 154.0 m
AK24-119*Pod 6526133637290746365-75230300 cps over 8.5 m at 109.5 m0.07% over 0.5 m at 104.5 m
Pod 6907 cps over 34.05 m at 131.1 m0.28% over 21.0 m at 141.0 m
Pod 6 includes 9,173 cps over 0.4 m at 144.6 m1.36% over 2.0 m at 143.0 m
Pod 6 and includes 0.51% over 0.5 m at 152.0 m
AK24-120Exploration - Depth5262106373081464270-70512No significant results
AK24-121Exploration - Depth5263176372980465270-70452No significant results
AK24-122Exploration - Depth5263606372880467270-70446No significant results
AK24-123Exploration - SE Strike5264506372680467270-65369No significant results
AK24-124Exploration - UC526335637273046690-90200No significant results
AK24-125Exploration - UC526335637273046690-60332495 cps over 0.3 m at 132.75 m0.05% over 0.55 m at 132.5 m
AK24-126Exploration - UC526342637283046790-70269No significant results
AK24-127Exploration - UC526362637292846790-80215330 cps over 0.15 m at 53.4 mNo significant results
Exploration - UC330 cps over 0.1 m at 55.9 mNo significant results
Exploration - UC320 cps over 0.25 m at 115.75 mNo significant results
AK24-128Pod 1 NW5260626373080466270-60200302 cps over 1.85 m at 47.7 mNo significant results
Pod 1 NW370 cps over 0.1 m at 50.0 mNo significant results
Pod 1 NW300 cps over 0.6 m at 50.65 mNo significant results
Pod 1 NW310 cps over 0.15 m at 58.6 mNo significant results
Pod 1 NW460 cps over 0.1 m at 59.1 m0.05% over 0.5 m at 59.0 m
Pod 1 NW300 cps over 0.2 m at 62.9 mNo significant results
Pod 7 NW418 cps over 0.9 m at 109.05 m0.07% over 0.5 m at 109.0 m
AK24-129Exploration - UC5262316372800467270-90188324 cps over 0.65 m at 80.65 mNo significant results
AK24-130Exploration - SE Strike5264536372383468250-60281No significant results
AK24-131Pod 8526135637283646576-65242No significant results
AK24-132Pod 8526135637283646476-59218No significant results0.05% over 0.1 m at 156.5 m
AK24-133Pod 8526124637287946590-60224397 cps over 1.10 m at 112.4 m0.08% over 1.0 m at 112.5 m
Pod 8341 cps over 0.55 m at 116.7 m0.06% over 2.0 m at 116.5 m
Pod 8350 cps over 0.8 m at 120.3 mNo significant results
Pod 8396 cps over 11.65 m at 128.95 m0.09% over 11.5 m at 130.5 m
Pod 6444 cps over 1.2 m at 155.5 m0.07% over 1.0 m at 155.5 m
AK24-134Pod 15260916372933463267-50191386 cps over 6.05 m at 53.2 m0.10% over 1.5 m at 53.5 m 0.16% over 1.0 m at 56.5 m
Between Pod 1 & Pod 7400 cps over 0.5 m at 74.0 m0.12% over 1.25 m at 74.0 m
Pod 71,035 cps over 11.0 m at 101.3 m0.17% over 9.0 m at 103.0 m
Pod 7includes6,621 cps over 0.7 m at 103.9 m1.07% over 0.5 m at 104.0 m
Pod 7400 cps over 0.05 m at 129.2 m0.06% over 0.05 m at 129.2 m
Pod 7500 cps over 4.75 m at 131.9 m0.10% over 3.0 m at 132.0 m
Pod 76,344 cps over 0.3 m at 138.9 m0.43% over 1.0 m at 138.5 m
Pod 7includes0.65% over 0.5 m at 139.0 m
AK24-135BPod 15260916372932463267-50185410 cps over 0.6 m at 41.6 m0.09% over 0.7 m at 41.5 m
Pod 1478 cps over 0.4 m at 44.0 m 417 cps over 1.55 m at 47.0 m0.05% over 6.5 m at 44.0 m1
Between Pod 1 & Pod 7442 cps over 0.6 m at 53.3 m0.06% over 1.0 m at 53.0 m
Between Pod 1 & Pod 7465 cps over 0.2 m at 55.9 m0.06% over 0.5 m at 56.0 m
Pod 7438 cps over 1.25 m at 89.45 m0.10% over 1.65 m at 89.35 m
Pod 7983 cps over 28.65 m at 98.2 m0.18% over 28.0 m at 98.0 m
Pod 7includes0.55% over 0.5 m at 99.5 m
and includes5,920 cps over 0.15 m at 123.1 m0.57% over 0.5 m at 123.0 m
Pod 7623 cps over 0.6 m at 156.3 mNo significant results
AK24-136Pod 15260916372932463245-55208.5380 cps over 0.2 m at 50.4 m0.05% over 0.4 m at 50.2 m
Pod 1414 cps over 0.75 m at 56.7 m0.10% over 1.0 m at 56.5 m
Between Pod 1 & Pod 7366 cps over 4.6 m at 74.0 m0.11% over 3.5 m at 74.0 m2
Pod 7328 cps over 6.3 m at 103.8 m0.06% over 0.5 m at 103.5 m 0.05% over 0.5 m at 105.5 m 0.06% over 0.5 m at 109.0 m
Pod 7800 cps over 5.15 m at 113.5 m0.12% over 4.5 m at 114.5 m
Pod 7includes10,455 cps over 0.2 m at 118.45 m0.59% over 0.55 m at 118.45 m
Pod 7320 cps over 0.05 m at 125.9 mNo significant results
Pod 7471 cps over 0.45 m at 129.4 m0.07% over 0.5 m at 129.5 m
Pod 7No significant results0.05% over 0.5 m at 135.0 m
AK24-137Pod 15260916372932463241-691911,236 cps over 8.95 m at 37.35 m0.38% over 9.15 m at 37.35 m3
Pod 1includes5,827 cps over 0.2 m at 39.35 m0.68% over 4.25 m at 39.0 m
Pod 1325 cps over 3.4 m at 50.5 m0.12% over 0.5 m at 50.5 m 0.07% over 0.5 m at 53.0 m
Pod 1330 cps over 0.15 m at 58.85 mNo significant results
Between Pod 1 & Pod 7302 cps over 4.4 m at 96.55 m0.05% over 0.5 m at 96.5 m
Between Pod 1 & Pod 7365 cps over 3.4 m at 105.25 m0.06% over 0.5 m at 107.5 m
Pod 7380 cps over 0.1 m at 120.35 mNo significant results
Pod 7684 cps over 0.3 m at 124.7 m0.06% over 0.5 m at 124.5 m
Pod 71,272 cps over 13.3 m at 127.5 m0.28% over 9.0 m at 129.0 m
Pod 7includes5,000 cps over 0.2 m at 130.1 m0.51% over 0.5 m at 130.0 m
Pod 7and includes7,000 cps over 0.05 m at 132.1 m0.55% over 2.0 m at 132.5 m
Pod 7and includes5,600 cps over 0.85 m at 132.7 m
Pod 7and includes10,600 cps over 0.1 m at 134.55 m
Pod 71,122 cps over 4.85 m at 142.9 m0.16% over 4.0 m at 142.5 m
Pod 7includes5,600 cps over 0.25 m at 143.15 m
Pod 7and includes6,500 cps over 0.1 m at 146.15 m
Pod 71,063 cps over 1.45 m at 150.65 mNo significant results
Pod 7includes10,000 cps over 0.1 m at 150.65 m0.40% over 0.5 m at 150.5 m
AK24-138Pod 75260606372968462251-60152388 cps over 11.2 m at 64.85 m0.09% over 10.5 m at 64.5 m4
Pod 7905 cps over 26.5 m at 79.55 m0.19% over 23.0 m at 81.5 m
Pod 7includes7,000 cps over 0.1 m at 89.05 m0.58% over 0.5 m at 89.0 m
Pod 7and includes6,300 cps over 0.1 m at 96.4 m
Pod 7and includes5,500 cps over 0.1 m at 97.55 m0.65% over 0.5 m at 97.5 m
Pod 7and includes5,290 cps over 0.6 m at 101.5 m1.00% over 1.0 m at 101.0 m
Pod 7454 cps over 0.75 m at 108.35 mNo significant results
Pod 7738 cps over 0.8 m at 111.95 m0.23% over 0.5 m at 112.0 m
AK24-139Pod 75260606372968462281-45179No significant results0.37% over 0.25 m at 41.25 m
369 cps over 0.85 m at 62.15 m0.11% over 0.5 m at 62.0 m
Pod 7300 cps over 0.4 m at 65.0 mNo significant results
Pod 7664 cps over 24.7 m at 68.45 m0.11% over 22.0 m at 70.5 m
Pod 7305 cps over 0.05 m at 96.35 mNo significant results
Pod 7495 cps over 0.1 m at 98.25 mNo significant results
Pod 7388 cps over 0.2 m at 101.45 mNo significant results
Pod 7360 cps over 0.1 m at 134.45 mNo significant results
Pod 7380 cps over 0.15 m at 137.9 mNo significant results
AK24-140Pod 7 NW525979637307946180-65275360 cps over 0.4 m at 82.3 mNo significant results
Pod 7 NW320 cps over 1.6 m at 88.9 mNo significant results
Pod 7 NW350 cps over 0.25 m at 92.75 mNo significant results
Pod 7 NW300 cps over 0.6 m at 99.9 mNo significant results
AK24-141Pod 7 NW525979637307946193-76365988 cps over 1.65 m at 91.8 m0.11% over 2.0 m at 91.5 m
Pod 1 NW340 cps over 0.1 m at 180.7 mNo significant results
Pod 9300 cps over 0.2 m at 271.4 mNo significant results
Pod 9360 cps over 0.2 m at 272.95 mNo significant results
Pod 9310 cps over 0.15 m at 274.3 mNo significant results
AK24-142Pod 7 NW525979637309146285-78344300 cps over 0.15 m at 68.0 mNo significant results
Pod 7 NW458 cps over 1.35 m at 77.25 m0.07% over 0.5 m at 77.0 m 0.06% over 0.5 m at 78.5 m
Pod 1 NW550 cps over 0.1 m at 102.1 mNo significant results
Pod 1 NW440 cps over 0.1 m at 112.25 mNo significant results
Pod 1 NW757 cps over 0.2 m at 114.1 mNo significant results
Pod 1 NW500 cps over 0.15 m at 116.45 mNo significant results
Pod 9300 cps over 0.2 m at 135.6 mNo significant results
Pod 9374 cps over 0.45 m at 184.0 mNo significant results
Pod 9380 cps over 0.2 m at 184.8 mNo significant results
Pod 9400 cps over 0.1 m at 185.4 mNo significant results
Pod 2 NW347 cps over 0.45 m at 276.2 mNo significant results
Pod 2 NW300 cps over 0.5 m at 312.75 mNo significant results
AK24-143Pod 15261016373029463265-55221330 cps over 0.45 m at 46.9 mNo significant results
Pod 1397 cps over 21.25 m at 59.5 m0.12% over 11.8 m at 65.2 m5
Pod 1300 cps over 0.1 m at 90.3 mNo significant results
Pod 1360 cps over 0.3 m at 97.7 m0.06% over 0.6 m at 97.5 m
Pod 1300 cps over 0.15 m at 101.0 mNo significant results
Pod 7453 cps over 0.3 m at 123.6 mNo significant results
Between Pod 1 & Pod 7330 cps over 2.1 m at 125.7 m0.10% over 1.0 m at 126.0 m
Between Pod 1 & Pod 7450 cps over 0.5 m at 130.75 m0.05% over 0.5 m at 130.5 m
Between Pod 1 & Pod 7344 cps over 4.35 m at 136.1 m0.08% over 2.0 m at 136.0 m
Pod 7 NW300 cps over 0.2 m at 152.6 mNo significant results
Pod 7 NW380 cps over 0.25 m at 153.65 m0.06% over 4.5 m at 153.5 m6
Pod 7 NW388 cps over 3.35 m at 155.65 m
AK24-144Pod 15260806373029463265-55200500 cps over 0.25 m at 44.5 mNo significant results
Pod 1375 cps over 10.45 m at 50.0 m0.12% over 9.0 m at 51.5 m7
includes0.69% over 0.5 m at 54.0 m
Pod 1300 cps over 0.1 m at 64.4 mNo significant results
Pod 1300 cps over 0.1 m at 65.3 mNo significant results
Between Pod 1 & Pod 7800 cps over 0.3 m at 98.75 m0.13% over 1.0 m at 98.5 m
Pod 7 NW350 cps over 0.55 m at 142.3 m0.10% over 1.0 m at 142.0 m
28 DDH7,373 m19 DDH17 DDH

 

NOTES: East and North units are metres using NAD83 datum, UTM Zone 13NElevation is recorded as "metres above sea level"Az. = Azimuth, EOH = End of hole (measured in metres)Composite radioactivity results use 300 cps cut-off and do not contain greater than 2.0 m consecutive dilutionComposite radioactivity results for "includes/and includes" use 5,000 cps cut-off and do not contain greater than 2.0 m consecutive dilutionComposite U3O8 results use 0.05% U3O8 cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is <0.05% U3O8)    Composite U3O8 results for "includes/and includes" use 0.50% U3O8 cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is <0.50% U3O8)* - previously released assay results (October 3, 2024)1 - includes 2.25 m lost core over interval length2 - includes 0.95 m lost core over interval length3 - includes 0.9 m lost core over interval length4 - includes 2.75 m lost core over interval length5 - includes 1.4 m lost core over interval length6 - includes 1.7 m lost core over interval length7 - includes 1.15 m lost core over interval length

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252714

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