Basin looks to have no shortage of exploration targets at its Geikie uranium project in Canada if results from the nearly complete airborne electromagnetic survey are any indication.

Preliminary results – using the 65% of unprocessed data received to date – have already identified several new targets and enhanced existing targets.

Notably, a significant EM conductor in the property’s southeast and multiple conductive anomalies associated with previously delineated regional north-south faults, which are interpreted as suitable conduits for mineralised fluid.

Adding further interest for Basin Energy (ASX:BSN), its ongoing comprehensive regional data assessment has uncovered a proven lithological package suitable for hosting uranium mineralisation at Geikie, with strong similarities to the conditions seen at neighbouring uranium discoveries.

While the project itself has only seen minimal exploration for uranium, its proximity to recent discoveries such as the Gemini Mineralised Zone and ACKIO, along with known mineralisation at Agip-S and West Way prospects, make it an area of significant interest for exploration.

Encouraging results

“We are extremely encouraged by the results of the preliminary EM data to date. Being able to identify conductors associated with the presence of significant structural graphitic units, as now confirmed from historic drilling results, provides the right framework for uranium deposits within the area,” Managing Director Pete Moorhouse said.

“Coupled with our existing model and targets, we are left with a series of tantalising and credible drill targets that show characteristics of other shallow, high-grade Athabasca-style uranium deposits.

“Whilst delays to the finalisation of the AEM survey have occurred which can be partially attributed to this winter seasons weather conditions, we are now pleased to have its completion in sight.”

He added that the company had used the extra time to fully appreciate the depth and extent of historical data from within and in close proximity to the project area, which provides control points that can be integrated with the new airborne EM date.

The company has also continued its engagement with traditional-rights bearing groups and stakeholders to ensure that its exploration activities are sustainable and beneficial for all affected parties.

Preliminary EM results and next steps

The strong coherent northeast trending conductor identified by the preliminary data strikes through the southern half of the project.

What is of particular importance is that a historical drill hole has identified structural graphite in proximity to this main conductor.

This provides confidence that structurally related graphite is present in the region, which is a well-known key pathfinder for uranium-rich fluid circulation and mineralisation precipitation in the Athabasca Basin.

Additionally, the EM data has highlighted multiple conductive anomalies that run directly concurrent and adjacent to two of the four previously identified regional north-south faults which are hypothesised to be suitable structural conduits for uranium-bearing fluids.

These anomalies provide a series of discrete and immediate drill targets, with Basin considering further ground or aerial gravity surveys to map broader alteration and further refine priority targets.

The company expects final data from the airborne EM survey to be available in the coming week – weather and equipment permitting.

Once this is available, Basin will move to finalise the maiden Geikie drilling program.

 

 

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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