Basin Energy Launches Exploration Program at Virka Uranium Project, Sweden

Project Name: Scandinavian Uranium and Green Energy Metals Portfolio
Project Location: Sweden and Finland

ProjectBank Summary:
Basin Energy Limited (ASX: BSN) has commenced exploration at the Virka Uranium Project in Sweden, part of its recently acquired Scandinavian portfolio. Initial work focuses on three high-priority areas identified from historical data, with ongoing mapping, reconnaissance sampling, and plans to re-log and potentially sample historic drill cores. Historic drilling from the 1980s at Virka showed significant mineralisation, including intercepts of 9m at 1,087 ppm U₃O₈ and 17m at 707 ppm U₃O₈, indicating strong district-scale potential.

Basin Energy Highlights:

• Three high-priority areas identified for immediate fieldwork, based on historic data review.

• Historic results include 9m @ 1,087 ppm U₃O₈, with multiple significant uranium intercepts.

• Program underway with mapping, sampling, and review of historic drill cores.

MD/CEO Statement:
Pete Moorhouse, Managing Director, commented: "We are eager to advance our work at Virka, particularly given the promising historic data. Our team has mobilised quickly to conduct groundwork before winter sets in, focusing on mapping and sampling across key areas. This marks an exciting step as we progress our Scandinavian uranium and green energy metals portfolio."