Impact: Positive
Baselode Energy announced preliminary drill results from the ACKIO high-grade uranium zone of its of its 100%-owned Hook project in Saskatchewan, where a 10,000m summer drill program is ongoing. Of the 15 holes (3,214m) completed so far, five holes intersected >20m of elevated radioactivity, indicating broad mineralization occurring in multiple lenses. The highlight result was from Hole AK23-095, which intersected shallow mineralization of 1,019 cps over 35.75m. Management suggests that this hole is the project’s fourth best hole by total radioactivity, likely driven by the very wide intersection. We view these results from ACKIO positively as they continue to validate Baselode’s Athabasca 2.0 strategy of exploring for near-surface easily accessible uranium mineralization outside the Athabasca basin. We noted in our initiation that this helps it differentiate itself (read note). We look forward to the assays of these holes and results from further drilling here.
