Key Highlights:
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Falcon Airborne Gravity survey initiated to build upon recent drilling successes and further refine target areas at Geikie.
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Drilling results reveal alteration patterns that make airborne gravity the ideal survey tool for the next exploration phase. This method has successfully mapped similar uranium alteration systems in the Athabasca Basin.
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Maiden drilling assays, along with gravity survey results and their interpretation, are anticipated by mid-September.
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As of 30 June 2023, Basin is well-equipped with $5.2M in cash reserves to continue its work at Geikie.
Basin Energy Limited (ASX:BSN) ("Basin" or the "Company") is thrilled to announce the commencement of a comprehensive Falcon Airborne Gravity Gradiometer (AGG) survey at its Geikie Uranium Project ("Geikie" or the "Project"). This project is strategically located on the eastern margin of the globally renowned Athabasca Basin in Canada.
The AGG survey's primary objective is to pinpoint areas with enhanced basement alteration linked to previously interpreted and drill-defined structural corridors. The exploration potential of the current targets and the broader project area is underscored by the types and significance of alteration observed in drilling at the Preston Creek and Aero Lake Prospects. The AGG survey, in particular, aims to detect potential zones where alteration intensifies near these structures. This technique has proven its efficacy in identifying uranium alteration systems in the Athabasca Basin. The survey, to be executed by the Xcalibur Multiphysics Group, will encompass 1,838-line kilometres with a 200-metre line spacing.
Pete Moorhouse, Basin’s Managing Director, shared his insights on the project:
“The first phase of drilling at Geikie unveiled a series of radiometric anomalies and highlighted significant alteration linked to regional structures – these are crucial components for exploring Athabasca basement-hosted high-grade uranium.
The Geikie Project spans a vast geographical area within a budding uranium district. The data from the airborne gravity survey, combined with the promising outcomes from our recent drilling initiative, will facilitate a swift and cost-efficient evaluation of the Project on a grander scale.”
About us:
Basin Energy (ASX: BSN) is a uranium 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.
Contact details:
Chloe Hayes