Baselode Energy Receives Approval For Up To 50,000 Metres Of Additional Drilling

Baselode Energy (TSXV: FIND) is expanding its current drill program rather significantly. The uranium-focused firm this morning announced that the Saskatchewan Ministry of Environment has provided drill permits for a further 50,000 metres of exploration.

Exploration is currently taking place at the Hook Project, found in the Athabasca Basin region in the north of the province. Here, the company is currently focused on drilling out the ACKIO uranium discovery, with the drill program initially beginning as a 10,000 metre program, which was then expanded.

The program has been expanded to at minimum 20,000 metres of drilling in aggregate, which will see the company drill throughout the summer. Dependent upon the success seen by the company under the program, they can now increase the program up to a total of 60,000 metres. However, the company was not firm on whether they would use the full 60,000 metres that they are now permitted to drill.

Found 30 kilometres south of established infrastructure, the current drill program is helicopter-supported, enabling the company to drill the property through the spring thaw as well as the summer months. The expanded drill program is said to be fully funded, supported by the firms current cash position of roughly $20 million.

Baselode Energy last traded at $0.84 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Lobo Tiggre: Evaluating Resource Companies – The Daily Dive

Today on the Daily Dive, we see our host Cassandra Leah sit down with Lobo...

Thursday, February 4, 2021, 01:30:00 PM

Uranium: Cantor Increases Spot Price Target To As High As $150 For U3O8

Following guidance reductions from uranium mining major Kazatomprom, at least one analyst is calling for...

Saturday, February 3, 2024, 09:27:00 AM

Utah Seeks to Build Second US Uranium Enrichment Facility

Utah officials announced Thursday a proposal to build a uranium processing facility at Camp Williams...

Monday, June 16, 2025, 07:50:19 AM

Key Greenland Election Could Affect Investor Perceptions of Mine Operators

On April 6, Greenland will hold a national election which will have significant consequences for...

Sunday, April 4, 2021, 09:00:00 AM

Supply Chain Risk Looms Over French-Mongolian Uranium Venture

As Orano SA prepares to launch its $1.6 billion uranium project in Mongolia, observers point...

Tuesday, December 31, 2024, 03:05:00 PM