$BSN - Basin Energy Ltd is pleased to provide an update on preparations for its Phase two drilling program at the Geikie Uranium Project scheduled to start in Q1 2024. 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% U3O8. 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 systems. 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 corridors. 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.” Read more: https://lnkd.in/dj2R-gWF #BSN #Athabasca #Geikie #Uranium Blake Steele Pete Moorhouse Cory B.. Peter Bird Ben Donovan - AGIA ACIS Odile Maufrais
