Basin Energy’s follow-up drilling at Geikie has been eagerly awaited since the exciting results of its maiden program in 2023. Pic via Getty Images
Mining
Special Report: Basin Energy’s exploration and drilling teams have arrived on site at the Geikie project in Canada’s Athabasca Basin to begin Phase 2 drilling of up to 2,500m for a minimum of eight drill holes.
Basin Energy (ASX:BSN) has embarked on its second round of drilling at Geikie, following up on the maiden round of work in August last year which discovered uranium mineralisation up to 0.27%.
These hits were made in proximity to two regionally significant structures at Aero Lake and Preston Creek, accompanied by extensive hydrothermal alteration characteristics of large uranium mineralising systems in the world-class Athabasca Basin.
Modelling and integration of a recently completed airborne gravity survey has since provided a series of high priority targets that BSN says warrants a new phase of drill testing.
The first two holes of 2024 will follow up these drilling assays where key ingredients of a potential basement-hosted, high-grade uranium deposit were identified.
“These observations combined with the subsequently acquired airborne gravity results leave us with some tantalising targets,” BSN Managing Director Pete Moorhouse says.
“Following this we will be heading to Hunter North to hit the first of our regional targets of 2024.
“Meanwhile, elsewhere in the Athabasca Basin the ground crews have been making fantastic progress on our North Millennium and Marshall geophysical surveys. We eagerly await these results and will update the market as soon as possible.
“We have no shortage of high-quality uranium targets in the world’s premier uranium district, which leaves us in an enviable position as interest in the uranium sector continues to build.”
The 2,500m program will take up to six 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 at the Hunter North and Johnson Lake prospects.
The latter were derived from the integration of high-resolution airborne radiometric, magnetic, electromagnetic and gravity data with geochemical sampling, structural mapping and critical observations from Phase 1 works.
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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