As of Wednesday, Baselode Energy Corp. (OTCQB:BSENF) was trading in a range of $0.80 to $1.23 and closed Wednesday at $1.02, up 30.77 percent. The price of BSENF stock surged over 83.62% in the last month; the average volume for the month was over 222.42K shares. A quick look at BSENF stock performance over the past three months shows a gain of 147.33%, with a 128.71K average daily volume.

This is a good year for BSENF stock with over 175.72% gain in price, reaching a high of $1.2300 with a market cap of $54.12M. The BSENF stock gained traction after announcing elevated radioactivity within two of its drill holes.

Where did BSENF drill those holes?

Based in northern Saskatchewan, Baselode currently controls 100% of nearly 226,900 hectares intended for exploration within the Athabasca Basin. There is no option agreement on this property or associated royalties. With its Athabasca 2.0 thesis, BSENF will focus on searching for high-grade uranium orebodies near the surface in basements outside of the Athabasca Basin. Furthermore, BSENF’s preferred geophysical methods for mapping deep structural controls when identifying shallow diamond drilling targets complement the exploration thesis.

Baselode Energy yesterday reported that it had encountered many areas of elevated radioactivity in two new diamond drill holes. BSENF’s Hook Uranium project (“Hook”) is in northern Saskatchewan, in the Athabasca Basin area. Drilling was done at the ACKIO target. The Hook is 100% owned by BSENF and does not have any royalties attached.

Results from Hook’s ACKIO:

  • During the Hook drill campaign, a total of 10 holes totaling 3,680 meters were drilled.
  • The ACKIO zone has eight drill holes totaling 1,911 meters.
  • Casing was abandoned after drilling holes HK21-06 and AK21-02 and the holes were re-started.
  • Three additional intervals of elevated radioactivity were reported at depth from this drill hole, demonstrating the possibility of multiple zones of uranium mineralization within the ACKIO system along with the discovery results from drill hole AK21-01 formerly known as HK21-07.
  • It did intersect the largest alteration envelope and two discrete hematite breccia systems, perhaps indicative of multiple fault zones, in drill hole AK21-02A, although it did not intersect elevated levels of radioactivity.
  • This is the closest area of elevated radioactivity to the surface discovered by drill hole AK21-03.
  • As part of the targets for drilling hole AK21-04, its objective was to target a fault interpreted to penetrate Athabasca sandstones at the unconformity.
  • The basement geological features were intersected by holes AK21-01, AK21-03, and AK21-04.
  • Significant chloritization, quartz-rich hematite breccias, silicification, and cloudy intervals above radioactive zones are among the features found in the sample.

BSENF’s further exploration plans:

The current drill program that Baselode Energy (BSENF) is running has ended due to waning logistical efficiency and lessening daylight hours. During the winter months of 2022 (January/February), BSENF anticipates conducting a two-hole, 10,000 m drill program, in support of Hook’s winter drill program. BSENF believes that these two discoveries are part of the same uranium mineralization system which remains open for exploration in every direction.

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