BSN Commences 2024 Athabasca Basin Uranium Exploration Program
Project Name: Athabasca Basin Uranium Projects
Project Location: Athabasca Basin, Saskatchewan, Canada
Project Stage: Exploration
ProjectBank Summary: Basin Energy Limited (ASX: BSN) has initiated its 2024 winter exploration program across its Athabasca Basin uranium projects. The exploration activities include a significant ground electromagnetic survey at the North Millennium and Marshall projects, aimed at identifying potential repetitions of Cameco’s Millennium deposit located nearby. Additionally, preparations for Phase 2 drilling at the Geikie project are underway, targeting shallow mineralisation. This program aims to enhance the company's understanding of the uranium potential in this prolific region.
Basin Energy Highlights:
Ground EM survey initiated at North Millennium and Marshall projects:
Targeting potential repetitions of Cameco’s Millennium deposit (104.8Mlb at 3.8% U3O8).
Key contracts signed for February exploration drilling at Geikie project:
Phase 2 drilling to target shallow (<300 metre) mineralisation with up to 2,500 metres planned for a minimum of 8 drill holes.
Positive market sentiment for uranium:
U3O8 spot price exceeding US$105/Lb.
MD/CEO Statement: Pete Moorhouse, Managing Director of Basin Energy, commented: "Basin is taking an aggressive approach to its winter exploration program with teams back on the ground following the holiday season. 2024 is setting up to be a big year for the Company as the uranium market continues to heat up. We have no shortage of targets in the world’s premier uranium district which we will be systematically testing. Ground EM is being conducted at North Millennium and Marshall, as we look to explore for repeats of Cameco’s Millennium deposit located just 7 kms to the south. This will pave the way for rapid follow-up drilling of these targets. Preparations for phase 2 drilling at Geikie are now well advanced and we are excited to be following up on the success of our phase 1 drill program, which intersected the key ingredients for Athabasca basement-hosted high-grade uranium deposits."
