Baselode Energy CEO discusses Catharsis exploration and Athabasca 2.0 strategy - PDAC 2024
Toronto, Canada
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March 14, 2024 09:35 AM Eastern Daylight Time
Baselode Energy Corp CEO James Sykes tells Proactive's Angela Harmantas the company, is actively engaged in uranium exploration in the Athabasca Basin, described as the 'Saudi Arabia of uranium.'
Speaking to Proactive at PDAC 2024, Sykes said the company's main focus for 2024 is the Catharsis project, which aims to find near-surface, high-grade uranium within trucking distance of an existing mill. This project is notable for its exploration of an area previously undrilled, showcasing significant potential for uranium discovery despite being 100 kilometres south of the basin.
The initial drilling programme has been expanded due to promising signs of alteration and structure indicative of uranium presence, although uranium itself has not yet been found. This expansion includes doubling the drill metreage and adding more target areas to accelerate the discovery process.
Sykes highlighted the company's efficiency in exploration, citing the ACKIO uranium deposit discovery on their Hook project during their first drill programme as an example of their effective use of shareholder funds.
In addition to project updates, Sykes discussed the Athabasca 2.0 strategy, a conceptual approach to exploring for uranium by considering the basin's historical erosion and the potential for near-surface deposits. This strategy challenges traditional exploration methods, focusing on structural analysis rather than solely on graphite conductors.
Baselode Energy is fully funded for over 20,000 metres of drilling planned for the remainder of the year, with a $12 million exploration budget to be spent by year-end.
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