Expands Geikie Athabasca Uranium Project
Perth, April 2, 2025 AEST (ABN Newswire) - Basin Energy Limited (
ASX:BSN) (BSNEF:OTCMKTS) is pleased to announce that two additional claims consisting of 22.3 km2 have been added to the Geikie Uranium Project ('Geikie' or the 'Project'), bringing the total project area to 373.1 km2 (Figure 1*).
Key Highlights
- Two additional claims added to the Geikie Uranium Project through staking
- Preston Creek prospect, where 2024 drilling uncovered a large-scale hydrothermal system in a structurally complex corridor with uranium anomalism, extends into the new claim area
- 1.5 kilometres of prospective geophysical anomaly extends into the newly staked claims
Mineral claims MC00022218 and MC00022219 (Figure 1*) are contiguous to the Preston Creek prospect where 2024 drilling outlined a large-scale hydrothermal system (Figure 2*) within a complex structural corridor with uranium anomalism.
Basin's Managing Director, Pete Moorhouse, commented:
"We are very pleased with the acquisition of these new claims contiguous to the highly prospective Preston Creek prospect at Geikie. 2024 drilling at Preston Creek highlighted a spectacular structure-related alteration system with uranium anomalism. This 1.5 km strike gravity anomaly, which remains untested to the northeast into the newly staked claims exhibits all the key elements typically found in basement-hosted high-grade uranium mineralisation. Securing the tenures contiguous to this system is a fantastic addition to the Geikie project."
Additional mineral claims MC00022218 and MC00022219 were acquired through staking via the Saskatchewan Government mineral disposition process and have been added to the existing earn-in agreement between Basin and CanAlaska Uranium Limited ('CanAlaska'). The Company entered into an earn-in agreement with CanAlaska dated 22 April 2022 pursuant to which CanAlaska granted the Company the exclusive right and option to acquire an 80% interest in mineral claims comprising the Geikie Project over a three-staged earn-in, subject to the terms and conditions contained within the Geikie earn-in agreement. The additional two mineral claims are now included as part of this agreement and subject to the same terms. Basin currently holds a 60% interest in the Geikie Project.
Preston Creek
Preston Creek drilling in 2024 highlighted an area of extensive alteration (Figure 2*) along a complex fault zone with uranium anomalism detected. Drill core observations showed all the key ingredients required for the formation of high-grade basement-hosted uranium mineralisation and suggest that the previously identified gravity low in the Preston Creek target area is related to a broad hydrothermal fluid system. The current drill spacing in the southern portion of the Preston Creek prospect is between 80 to 115 metres with only one drillhole fully testing the gravity anomaly correlated to the pervasive alteration intersected in GKI-014 and GKI-016. An additional 1.5 km of prospective strike length of gravity anomalism remains untested to the northeast extending into the newly staked claims.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/LGMYRPNV
About Basin Energy Ltd
Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.
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