The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Basin Prepares for Phase 2 Drilling at Geikie Uranium Project

by December 15, 2023
December 15, 2023
Basin Prepares for Phase 2 Drilling at Geikie Uranium Project

Basin Energy Ltd (ASX:BSN) (‘Basin’, or the ‘Company’) is pleased to provide an update on preparations for its Phase two drilling program at the Geikie Uranium Project (‘Geikie’ or the ‘Project’) scheduled to start in Q1 2024.

Key Highlights

2,000 metres planned for a minimum of 8 drill holes.High priority shallow structural targets with gravity anomalies identified.Phase one drilling successfully identified active uranium system, including GKI-002 which intersected 0.27% U3O8.Multiple tenders received for key contractor roles, allowing mobilisation to commence in early February.Positive uranium market sentiment continues to build, with U3O8 SPOT price exceeding US$85/Lb.

The Project is located on the eastern margin of the world-class Athabasca Basin in Canada. Maiden drilling completed in August 2023 successfully identified uranium mineralisation with assays up to 0.27% U3O81. Uranium mineralisation is located proximal to two regionally significant structures at Aero Lake and Preston Creek, with associated extensive hydrothermal alteration characteristic of large uranium mineralising systems2. Modelling and integration of the recently completed Airborne Gravity Gradiometer (‘AGG’) data has provided a series of high priority targets that warrant next phase drill testing. The AGG survey was designed to target areas of enhanced basement alteration associated with drill defined uranium fertile structural corridors3.

Basin’s Managing Director, Pete Moorhouse, commented:

“Basin is preparing for a busy winter exploration season at its Athabasca uranium projects. We are excited to be following up on the success of our phase one drilling at Geikie, which intersected significant uranium mineralisation, with a robust phase two drill program.

Our first phase of drilling identified uranium mineralisation and the key ingredients for an Athabasca basement-hosted high-grade uranium deposit, including significant alteration associated with regional structures. Our AGG survey then defined a series of compelling gravity lows indicating the potential for intense alteration. This combined data leaves us with very exciting drill targets that we are eager to move forward on in phase two of drilling.

Also, the recent news of consolidation in the Eastern Athabasca further supports our interpretation of the prospectivity of this previously overlooked part of the prolific Athabasca Basin.

We are continuing to see a very positive sentiment in the uranium space with the uranium spot price now at 15 year highs. Basin is extremely well positioned to capitalise on this through the exploration of its projects in the world-class Athabasca Basin.”

Drilling Scope

The 2,000-metre drill program is scheduled to mobilise in early February, allowing drilling to commence by mid-February and expected to take 6 weeks to complete. Drilling will be split between direct follow up of targets associated with gravity lows adjacent to the anomalism identified in the maiden drilling campaign, along with regional exploration targets derived from the integration of high resolution airborne radiometric, magnetic, electromagnetic and gravity data with geochemical sampling, structural mapping and critical observations from phase one drilling.

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Never Never Hits 952,900oz @ 5.74g/t Dalgaranga Moves to 1.7Moz @ 2.49g/t
next post
Vanadium Market Forecast: Top Trends That Will Affect Vanadium in 2024

You may also like

Trading of Shares from Convertible Notes

Provaris Energy: Enabling Clean Energy Supply Chains via...

West High YieldResources Ltd. Outlines Next Steps for...

Alpha Lithium Files Notice of Change to Directors’...

Sona Nanotech to Showcase Its THT Cancer Therapy...

First Phase Drilling Successfully Completed at Abbotts North...

CHARBONE Hydrogen Addresses Temporary Service Disruption at Legacy...

Canco Petroleum Begins Carrying Cizzle Brands’ CWENCH Hydration...

Production and Revenue Growth at Alta Mesa Uranium...

Prismo Metals Announces Closing of Debt Settlement

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • ‘A fear campaign.’ Students around the world are shocked, scared and saddened...

    • North Korea deploys mystery balloon-like objects to stricken warship, satellite photos show

    • NVIDIA Rallies After Strong Q1, AI Demand Outshines China Export Hit

    • US senators meet with Zelensky in Kyiv as doubt cast over upcoming Ukraine-Russia peace talks

    • Israel’s plan to ‘conquer’ Gaza is leaving Palestinians with little place to go: 5 maps show how

    Categories

    • Business (1,673)
    • Investing (4,999)
    • Politics (7,837)
    • World (6,349)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top