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Baselode Identifies Elevated Radioactivity and Structural Alteration System at Catharsis Project, Signs Exploration Agreement with English River First Nation
Five of eight drill holes intersected elevated radioactivity at important lithological contacts ...
About this update from Geiger Energy Corporation
[{"type":"text","content":"Baselode Identifies Elevated Radioactivity and Structural Alteration System at Catharsis Project, Signs Exploration Agreement with English River First NationFive of eight drill holes intersected elevated radioactivity at important lithological contactsCT23-005 intersected a 105 metre long hematite-quartz vein system with late clay alteration, CT23-008 intersected 17 metres of clay alteration, both alteration styles are similar to Athabasca uranium deposit fluid systems Toronto, Ontario--(Newsfile Corp. - February 27, 2023) - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (\"Baselode\" or the \"Company\") is pleased to announce the completion of eight drill holes for 1,630 metres on the Company's first drill program (the \"Program\") on the Catharsis project (\"Catharsis\" or the \"Project\").The first drill program on the Catharsis project has identified 1) a structurally-controlled quartz-hematite-clay alteration system over 105 m core length in hole CT23-005 that shares numerous similarities with fluid conduits observed near other Athabasca basement-hosted uranium deposits, 2) 17 metres of pervasive and intense clay, chlorite, and desillicification alteration styles, and 3) elevated radioactivity* near the lithological contact that separates the metasediments from orthogneiss in five of eight drill holes. Structures and fluids often propagate along this lithological contact in the formation of Athabasca uranium deposits. In CT23-005 and CT23-008 we see evidence of multiple structurally-controlled fluid events utilizing this contact. \"Although no elevated radioactivity was detected within the observed alteration systems, the presence of multiple generations of variable fluid compositions utilizing the same structural corridors is encouraging for continued exploration at this target and within the Catharsis project as a whole. Drill testing this target area has provided us good understanding of the geology and what our geophysical anomalies represent which has helped us identify and prioritize additional high-priority drill targets on the Catharsis project. As we wait for geochemical assay and study results from the Program, we'll now turn our attention to our other exciting project, ACKIO, which hosts near-surface, high-grade uranium mineralization,\" said James Sykes, CEO, President and Director of Baselode.For more detail...