Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) has obtained high-grade uranium and rare earth element (REE) mineralisation in surface sampling from recently completed prospecting work completed over the Catharsis and Hook projects, Athabasca Basin area, northern Saskatchewan.
Highlights include:
- A channel sample at Hook returned high-grade Uranium and Rare Earth Elements (REE) with 1.33 wt% U3O8 and 1.84 wt% Total Rare Earth Oxides (TREO) over 0.4 m
- Four grab samples from Catharsis returned encouraging REE results with up to 2.14 wt% TREO
- All of the samples reported have consistently high concentration of critical REE, including heavy REE enrichment at Hook.
“The REE-enrichment on the Catharsis and Hook was unexpected but well-received. We’re encouraged by these findings as they suggest our projects are exposed to a broader and larger minerals systems, including high-grade uranium and REE exploration potential,” CEO, President and Director, James Sykes, said.
“REE are considered ‘critical minerals’, or those that are under high demand with scarce source of supply, by Canada, United States of America, Australia and European Union. REE products are highly sought for their unique qualities that have enabled rapid evolution of high-tech equipment and products, including modern solar panels, wind farms, electric vehicles, and cell phones.”
Catharsis Results
The northern summer field exploration crew covered a large swathe of land and visited more than 100 outcrops on Catharsis. A total of 26 samples were removed from twenty-one individual outcrops for either radiometric determination or background lithological chemistry. Four samples from three outcrops returned encouraging REE results ranging from 0.54 wt% TREO to 2.14 wt% TREO (see Table 1). All four samples had a critical REE concentration (CREO) comprising between 23 to 26% of the TREO, with the CREO portion being dominated by praseodymium (Pr6O11) and neodymium (Nd2O3). CREO are the most sought-after and valuable of the REE in the current market because of their importance fabricating high-strength magnets. The remaining 22 samples did not have any anomalous uranium or REE values to report.
Samples four and eight occur along the same regional lithological trend but are separated by approximately 10 km. Sample four was removed from a radioactive biotite schist (>80% biotite) within a small island outcrop. The biotite schist rock is very similar to other known high-grade REE occurrences in Saskatchewan. Sample eight was removed from an outcrop hosting metasedimentary gneiss inundated with pegmatite veins, the latter being the sampled radioactive material.
Both samples 30 and 31 were removed from different locations along a newly discovered radiometric anomaly measuring 250 m long, approximately 1.0 to 5.0 m wide at the lithological contact between metasedimentary gneiss and a granitic unit to the west. The radioactive trend was not followed further as the outcrop becomes lost beneath overburden and vegetative cover along strike directions. The discovery is significant because it’s on trend with a number of historic high-grade uranium surface showings.
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