Uranium exploration and development company Basin Energy has started the critical next step in exploring its Geikie Project in Canada’s Athabasca Basin. 

Basin Energy (ASX:BSN) has announced that airborne electromagnetic specialist Geotech Ltd has commenced surveying the Geikie Project.

The survey is designed to advance the recently identified high-priority uranium exploration targets.

Additionally, initial ground reconnaissance has been completed which confirms the presence of primary uranium rich source granites with grab samples returning up to 2,300 ppm U3O8, adjacent to favourable host lithologies for basement style mineralisation.

Results are seen as highly encouraging and continues to support the fast tracking of BSN’s maiden drilling program to commence Q1 2023.

BSN is well funded for the 2023 exploration campaign.

Critical next step

BSN’s managing director, Pete Moorhouse described the AEM survey as the “critical next step in exploring the outstanding opportunity being presented at Geikie”.

“This will be the second significant airborne geophysical dataset to be acquired by Basin since IPO in October 2022,” he said.

“We are also pleased with the results of our initial reconnaissance program, which confirmed the suitable uranium mineralisation geological characteristics of the GK1 and GK2 targets.

He said the initial reconnaissance 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,” he said.

“Coupled with the extremely shallow target depths of less than 200 metres, the credentials of Geikie as an outstanding exploration opportunity continue to grow.

Unexplored potential for uranium

BSN’s Geikie Project is located a few kilometres outside the Eastern edge of the Athabasca Basin within the Wollaston Domain in Canada.

The Project area has been subject to minimal exploration for uranium, with most work targeting base metals within a 3km zone of the Geikie River between 1967 and 1980.

During this regional work, a series of mineralised showings were discovered in the Mud Lake and Marina areas.

The primary target is for basement hosted uranium mineralisation where uranium bearing structures intersect favourable intercalated pelitic to psammitic gneisses and calc-silicate host rocks.

Recent discoveries of uranium mineralisation nearby including at the Gemini Mineralised Zone, ACKIO and Beckett, along with known mineralisation at Agip-S and West Way prospects all underscore the prospectivity of this portion of the Wollaston Belt.

Next Steps at Geikie

BSN said it’s developing a systematic exploration strategy for Geikie, with the expected pathway and timeline as follows:

  • On ground follow-up reconnaissance mapping and sampling of the high priority targets – completed
  • Complete high resolution airborne electromagnetics, critical to the refinement of drill targets – commenced
  • Search, review, and capture of any additional relevant historical data that has been completed in the Geikie region – ongoing
  • Prospect scale gravity survey: Dependent upon results of AEM, proposed Q1 2023
  • Diamond drilling – proposed to start in Q1 2023

 

 

 

This article was developed in collaboration with Basin Energy, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

 

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