{"id":3390,"date":"2023-12-18T04:50:07","date_gmt":"2023-12-18T04:50:07","guid":{"rendered":"https:\/\/economicherald.net\/?p=3390"},"modified":"2023-12-18T04:50:07","modified_gmt":"2023-12-18T04:50:07","slug":"basin-energy-gears-up-for-phase-2-drilling-at-geikie-uranium-project","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3390","title":{"rendered":"Basin Energy gears up for Phase 2 drilling at Geikie uranium project"},"content":{"rendered":"

Special Report: Basin Energy is preparing to start Phase 2 drilling at its Geikie uranium project in Canada\u2019s world-class Athabasca Basin early next year.<\/p>\n

The region has long been host to the world\u2019s highest grades of uranium \u2013 and in recent weeks has become a hotbed of M&A activity.<\/p>\n

The company\u2019s neighbour 92 Energy (ASX:92E)<\/strong><\/a> announced last week a three-way merger between themselves, Atha Energy (CSE:SASK) and Latitude Uranium (CSE:LUR) which includes 92E\u2019s Gemini discovery 8km to the west of the Geikie project.<\/p>\n

The merger comes barely a month since the uranium spot price broke through US$80\/lb for the first time in more than 12 years, suggesting sentiment has well and truly returned to the sector.<\/p>\n

Basin Energy (ASX:BSN)<\/strong><\/a> considers the acquisition to further validate the prospectivity of the Eastern Athabasca Basin and demonstrates the heightened interest in this historically overlooked part of the region.<\/p>\n

\u201cThe recent news of consolidation in the Eastern Athabasca further supports our interpretation of the prospectivity of this previously overlooked part of the prolific Athabasca Basin,\u201d BSN MD Pete Moorhouse said.<\/p>\n

\u201cWe are continuing to see a very positive sentiment in the uranium space with the uranium spot price now at 15-year highs.<\/p>\n

\u201cBSN is extremely well positioned to capitalise on this through the exploration of its projects in the world-class Athabasca Basin.\u201d<\/p>\n

\u00a0<\/strong><\/p>\n

Plenty of targets for Phase 2 drilling<\/strong><\/h2>\n

Maiden drilling completed in back in August successfully identified uranium mineralisation, with assays up to 0.27% U3O8.<\/p>\n

The 2,000m Phase 2 drilling program is now scheduled to mobilise in early February, allowing drilling to commence by mid-February and is expected to take six weeks to complete.<\/p>\n

Modelling and integration of a recently completed Airborne Gravity Gradiometer (AGG) data \u2013 designed to target areas of enhanced basement alteration associated with drill defined uranium fertile structural corridors \u2013 has provided a series of high priority targets to test.<\/p>\n

The company proposes to follow-up on the encouraging results intersected at the Preston Creek (3 drill holes) and Aero Lake prospects (2 drill holes).<\/p>\n

BSN will also conduct initial drilling on two new regional drill targets, Johnson Lake (2 drill holes) and Hunter North (1 drill hole).<\/p>\n

\u00a0<\/p>\n

Pic: Phase 2 drill target areas (white borders) over vertical gravity gradient. Source: BSN.<\/p>\n

\u00a0<\/p>\n

Busy winter exploration season ahead<\/strong><\/h2>\n

\u201cBSN is preparing for a busy winter exploration season at its Athabasca uranium projects,\u201d Moorhouse said.<\/p>\n

\u201cWe are excited to be following up on the success of our Phase 1 drilling at Geikie, which intersected significant uranium mineralisation, with a robust Phase 2 drill program.<\/p>\n

\u201cOur first phase of drilling identified uranium mineralisation and the key ingredients for an Athabasca basement-hosted, high-grade uranium deposit, including significant alteration associated with regional structures.<\/p>\n

\u201cOur AGG survey then defined a series of compelling gravity lows indicating the potential for intense alteration.<\/p>\n

\u201cThis combined data leaves us with very exciting drill targets that we are eager to move forward on in phase two of drilling.\u201d<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Basin Energy, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n

\u00a0<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Basin Energy gears up for Phase 2 drilling at Geikie uranium project<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Special Report: Basin Energy is preparing to start Phase 2 drilling at its Geikie uranium project in Canada\u2019s world-class Athabasca Basin early next year. 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