Home Sports Basin Energy (ASX: BSN) identifies new uranium targets at Geikie, Canada –...

Basin Energy (ASX: BSN) identifies new uranium targets at Geikie, Canada – The Market Herald

84
0

Sign up

Be the first with news that moves the market

  • Basin Energy ( BSN ) plans ‘aggressive’ exploration program after identifying new uranium targets at its Geikie project in Canada
  • The company says recently acquired high-resolution radiometric and magnetic imaging data have confirmed previously known structural corridors and delineated new areas
  • Basin Energy managing director Pete Moorhouse says the data from the study is of “exceptional quality” and provides a solid basis for further research.
  • The company has begun exploration in the area and plans to begin diamond drilling in the first quarter of 2023.
  • BSN shares were trading flat at 18 cents at 2.04pm AEDT

Basin Energy ( BSN ) is planning an “aggressive” exploration program after identifying new uranium targets at its Geikie project in Canada.

The company initially used historical data to gain insight into its project area, and said it recognized two main north-south features with prominent coincident magnetic and topographic trends.

Data from high-resolution airborne radiometric and magnetic surveys have now identified additional high-priority target areas.

Data analysis delineated radiometric anomalies using a combination of uranium, thorium, and potassium ratio analyses, which confirmed previously known structural corridors and delineated two new corridors.

Basin Energy managing director Pete Moorhouse said the data from the study was of “exceptional quality” and provided a solid basis for further research.

“The new data is a significant expansion of the historical data set and has not only clarified the original areas of interest, but also identified several previously unrecognized prospective zones within the license area,” Mr Moorhouse said.

Considering the results, BSN is now developing its exploration program, with ground exploration.

In that vein, the contractor has been secured to fast-track a further, project-wide high-resolution airborne electromagnetic survey next month.

This work will further improve drill targeting, which will enable test drilling of the highest priority targets as part of the company’s first drilling program, scheduled for the first quarter of next year.

The Geikie project is located near the eastern margin of the world-class Athabasca Basin on the Canadian Shield in northern Saskatchewan and Alberta.

BSN shares were trading flat at 18 cents at 2.04pm AEDT.

https://themarketherald.com.au/basin-energy-asxbsn-defines-new-uranium-targets-at-geikie-canada-2022-10-14/

Previous articleLeicester City – Crystal Palace: Premier League – Live | Major league
Next articleChampions Day 2022: Live Ascot Horse Racing News | Jumping