Proactive - Interviews for investors

Baselode Energy CEO James Sykes Highlights Encouraging Uranium Assay Results from ACKIO Prospect

Baselode Energy CEO James Sykes joined Steve Darling from Proactive to discuss the uranium assay results from 3 of the 43 drill holes from the company's 2024 drill program at the ACKIO prospect, located in the Athabasca Basin of northern Saskatchewan. The shallow depth of mineralization at the ACKIO prospect sets it apart from its peers, where deeper deposits are more common in the Basin.

Sykes emphasized the promising results from drill holes AK24-118 and AK24-119, both of which rank among the top 20 drill holes at ACKIO. Drill hole AK24-119 targeted the northern extension of Pod 6, 25 meters downdip from AK22-039, and returned impressive results, including 0.28% U3O8 over 21.0 meters at a depth of 141.0 meters, with a high-grade uranium interval of 1.55% U3O8 over 1.5 meters.

Similarly, AK24-118, drilled to test downdip 25 meters from hole AK22-035, showed improved results, yielding 0.59% U3O8 over 8.5 meters at a depth of 153.0 meters, with a high-grade uranium segment of 1.25% U3O8 over 1.5 meters.

With assay results from an additional 40 drill holes pending quality review and approval, Sykes anticipates more exciting updates to come from the ACKIO and Hook drill programs.

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Broadcast on:: 07 Oct 2024
Audio Format:: other

All right, welcome back inside our proactive newsroom. Joining me now is the CEO of base load energy, James Sykes. And James, it's good to see you again. How are you? Hey, Steve, doing good. How are you? Awesome. I'm doing very well. Thanks very much. And here we report some results from three of your 43 drill holes at the Accio prospect. And maybe just remind everyone a bit about Accio. And more importantly, what this drill program is the kind of area you're looking at. Yeah, Accio is high grade. It's near surface high grade uranium mineralization in the Athabasca Basin area of northern Saskatchewan. We're host to some of the shallowest mineralization in this area that we've seen in decades within 25 and 30 meters from surface. And that's quite encouraging. And the results that we just posted are the first three drill holes that we drilled into Accio this year, as we try to learn more about the mineralization and the structural controls of the whole system. Yeah. And we've had you on quite a bit, James. And you talk about seeing really positive numbers. And this is no different. These first three holes showing some impressive numbers. Absolutely. You don't find grades or widths like this anywhere else across the world, mostly in the Athabasca Basin. But 8 and 1/2 meters at 0.6%, 21 meters at 0.28%. Those are very encouraging. And again, to reiterate that near surface mineralization style is amenable to open pit type of strategies, that's what we're looking for. And that's very encouraging in this uranium bull market. Yeah. Now, obviously, you've got lots more holes to come. Did you start in the middle and push out? Or are you at edges? Where-- what sort of direction are you heading with these 40 holes that are still to come? We did some exploration with some of the holes, just trying to find-- trying to test some of the different structures that host Accio. And we'll-- and then we followed up within Accio mineralization itself, especially pod 7, which is quite possibly one of our largest mineralization pods. And we continue to grow that in width and in grade as well, while at least with radioactivity that we've released. We're looking at some very encouraging results. I'm encouraged with the results that we released, but from what we can expect based on the radioactivity, those pod 7 drill holes should be quite nice. And we've got a lot to look forward to coming down the road. Yeah, there's going to be a lot of news that sounds over the next couple of months, for sure. James, thanks so much. We look forward to our next batch of results when they're out. And congratulations again on these ones. Thanks a lot, Steve. Take care. All right, James Sykes, the CEO of Base Load Energy.