TORONTO,
March 22, 2022 /CNW/ -
Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF)
("Baselode" or the "Company") is pleased to announce
the receipt of an exploration permit (the "Permit") from
Saskatchewan's Ministry of
Environment for an additional 50,000 metres of diamond drilling on
the ACKIO high-grade uranium discovery ("ACKIO"), Hook
project, Athabasca Basin area,
northern Saskatchewan.
The Company has approximately $20
million in cash and is fully-funded to carry out the
expanded drill program.
"In light of the results we've seen on ACKIO we've increased the
planned 10,000 metres to a minimum 20,000 metres along strike of
ACKIO. This will see us drill right through until summer, and we
now have the flexibility to expand further to a total of 60,000
metres on ACKIO until 2023," said James
Sykes, CEO, President and Director of Baselode.
The drill program is helicopter-supported to lessen any
ground-induced environmental impacts within the project area, and
will allow the Company to continue the drill program through Spring
thaw and into the Summer months. The Permit is effective
immediately and expires on December
31, 2023. Baselode remains engaged in positive
discussions with the respective Indigenous communities and northern
stakeholders for the Hook project. Baselode is committed to
mutually beneficial working relationships with Indigenous and
northern communities while mitigating any exploration impacts on
traditional Indigenous lands and Rights.
ACKIO is 30 km southeast of well-established infrastructure,
including an all-season road and powerline between Cameco Corp.'s
(TSX: CCO) and Orano's McArthur
River mine and Key Lake Uranium mill joint ventures. ACKIO
is 70 km northeast of the Key Lake mill.
About Baselode Energy Corp.
Baselode 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.
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.