Baselode Energy (TSXV:FIND,OTCQB:BSENF) CEO James Sykes is determined to keep the drills rolling on the high-grade uranium ACKIO discovery at its Hook project in the Athabasca Basin area of Northern Saskatchewan.
The company already initiated a 10,000 meter diamond drilling program to have a better understanding of the ACKIO uranium mineralization system.
“We’ve hit high grade mineralization in the first program in the very first drill hole,” Sykes said. “We decided this looks like a very fertile system for uranium. So we want to give it a good shot. And this winter, we’ve initiated a 10,000 meter drill program. We put out a news release on February 9 that we had started drilling, and within the same week we had two drills rolling.”
According to Sykes, the ACKIO discovery is in a perfect location. The project is on the east side of the Athabasca Basin, which is where the vast majority of historical operations have taken place, and it has access to nearby infrastructure.
“Some of the last open pit mines within the Athabasca Basin are not 50 million pound deposits, but can be anywhere from 5 million to 20 million pounds,” added Sykes. “So you don’t need these monster of deposits to become something economic, which is what we’re hoping we will see it ACKIO.”
The ACKIO discovery is located 30 km southeast of well-established infrastructure, including an all-season road and power line between Cameco’s (TSX:CCO) and Orano’s McArthur River mine and Key Lake uranium mill joint ventures. ACKIO is 70 km northeast of the Key Lake mill.
“We are doing 10,000 meters right now,” Sykes said. “But we want to build in the summertime with another 10,000 to 30,000 meters. That gives us between 20,000 to 40,000 meters this year, which would provide us with enough information to start an NI 43-101 resource. I think once we get to that point, then that’s when we start considering if the majors want to have a look at this. Is this something that would entice them? Or is this something that we consider to move forward on our own?”
Watch the full interview of Baselode Energy James Sykes above.
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