Participating in Red Cloud Securities Uranium
Mini-Conference on May 13
TORONTO, May 11, 2021 /CNW/ -Baselode Energy Corp. (TSXV:
FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is
pleased to announce that the fixed-wing airborne gravity survey
(the "Survey") has been completed over the Catharsis
high-grade uranium exploration project (the "Project"),
Athabasca Basin area
("Athabasca") in northern
Saskatchewan.
"The Survey identified numerous gravity low features, any one of
which could be indicative of clay alteration of basement rocks
associated with uranium mineralization. Our preliminary
interpretations have identified a large proportion of gravity low
features that correlate with magnetic features of interest. This
increases our confidence in our geological model and helps vector
us towards potential basement-hosted uranium mineralization.
We plan to follow-up the Survey with an electromagnetic survey to
prioritize and define areas for planned ground work and diamond
drilling," said James Sykes, CEO and
President of Baselode.
About this Gravity Survey
The Falcon® Plus airborne
gravity gradiometer, gravity and magnetics Survey covered the
entire Project with 400 m flight
line-spacing and was completed in 15 days. The Survey outlined
numerous gravity low features commonly associated with hydrothermal
alteration systems and uranium deposition. In addition, linear
gravity low trends have been identified that correlate well with
magnetic linear features interpreted as structural corridors (see
Figure 1 for results and interpretations).
Next Steps
Immediate follow-up exploration plans for
Catharsis include; i) an airborne VTEM survey required to further
refine structural targets, anticipated to start in the next 2 to 3
weeks, ii) ground-truthing and reconnaissance, geologic mapping,
and sampling to help prioritize planned diamond drill programs,
anticipated to start in late Q2/early Q3, and iii) 2,500 metres of
diamond drilling within priority target areas, anticipated to begin
in late Q3. Baselode applied for ground exploration permits
in April, and permits are expected to be received in June.
The Company is actively engaged in the consultation process with
Indigenous communities in the Project area.
A similar Survey has been completed over Baselode's Hook project
(see News Release dated April 26,
2021), however, the results have yet to be interpreted.
Baselode will provide an update of the results as they become
available.
Red Cloud Securities' Uranium Mini-Conference featuring
Baselode's James Sykes
The
Company also wishes to announce James
Sykes will be presenting at the Red Cloud Securities'
Uranium Mini-Conference, "Uranium: Fueling the Path Towards
Electrification" on Thursday, May 13,
2021 at 10:40 AM ET.
Please register through the following link to participate and hear
James' updates and Summer exploration plans for the Company.
Register here at the link below:
https://www.redcloudfs.com/uraniumconference2021/
About Baselode Energy Corp.
Baselode currently
controls 100% of approximately 171,000 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.
SOURCE Baselode Energy Corp.