Basin Energy Limited (ASX:BSN) has confirmed that mobilisation of an airborne electromagnetic survey (AEM) has now commenced at its Geikie Project, located on the eastern margin of the Athabasca Basin in Canada.
Additionally, Basin’s maiden field reconnaissance and sampling programme that was completed before the onset of the winter season successfully confirmed initial geological interpretations of the project area along with identifying the presence of uranium and critical pathfinder elements consistent with the company’s exploration model.
These initial field works, along with the two high resolution geophysical surveys will provide Basin with the tools required to target our maiden drill program planned to commence in Q1 2023.
“We are excited to be able to commence the AEM survey, which is the critical next step in exploring the outstanding opportunity being presented at Geikie,” Managing Director, Pete Moorhouse, said.
“This will be the second significant airborne geophysical dataset to be acquired by Basin since IPO in October 2022.
“We are also pleased with the results of our initial reconnaissance programme, which confirmed the suitable uranium mineralisation geological characteristics of the GK1 and GK2 targets. The initial reconnaissance, that was completed prior to the onset of winter has enhanced the geological understanding and provided confidence in the exploration rationale for the Geikie project.
“Geikie demonstrates multiple classic characteristics of high-grade uranium deposits of the Athabasca Basin including the right lithological and structural setting, and historical geochemistry with anomalous surface uranium and pathfinders.
“Coupled with the extremely shallow target depths of less than 200 metres, the credentials of Geikie as an outstanding exploration opportunity continue to grow.
“We look forward to being able to provide the market with results from this next pivotal survey in early 2023.”
Initial exploration conducted by Basin at Geikie consisted of the acquisition of high resolution airborne radiometric and magnetic survey data. This data, in conjunction with limited historic prospecting information identified four additional high priority target areas to the original six targets detailed in the Basin IPO prospectus, that are deemed highly prospective for uranium mineralisation.
The data also identified two previously unrecognised structural corridors, further enhancing the prospectivity of the Project area. The recommendations following this initial phase of work was to conduct a high resolution airborne electromagnetic survey (AEM) along with initial reconnaissance groundwork to identify lithological setting before drill testing in 2023.
This AEM survey has now commenced at Geikie, designed to identify basement conductors, lithological variations and refine structural understanding of the area. The data is seen as a critical next step prior to finalising targets for the Q1 2023 drilling programme.
A helicopter-borne Versatile Time-Domain Electromagnetic (VTEM) survey method was selected as most appropriate to achieve the survey objectives. The VTEM system is proven in this style of exploration for uranium within the Athabasca Basin and is excellent for locating discreet conductive anomalies as well as mapping lateral and vertical variations in resistivity.
Industry leaders Geotech Ltd have been engaged to conduct the survey, with the survey expected to take around two weeks. Final data will likely be available in early Q1 2023. The survey will cover the entire project area, at a combination of 400 m line spacing in the northern part of the property and 200 m line spacing in the south.
For further information please visit: https://basinenergy.com.au/
