Skip to content
Finance Investment, Oil Mining Resources

Basin Energy (ASX:BSN) – Priority Targets Identified At Marshall Uranium Project

Basin Energy Limited (ASX:BSN) 2 mins read

Basin Energy Limited (ASX:BSN), a leading energy exploration company, is thrilled to share significant updates on its Marshall Project, situated in the southeastern region of the globally renowned Athabasca Basin.

Key Highlights Include:

  • Advanced Geophysical Analysis: Basin Energy has successfully completed a 3D inversion of historical geophysical datasets. This advanced analysis, conducted in collaboration with geophysical experts Computational Geosciences Inc. and Convolutions Geoscience, has led to the identification of multiple priority anomalies. These anomalies are located both above and below the Athabasca unconformity, present in both the sandstone and basement stratigraphy at Marshall.

  • Uranium Market Momentum: The uranium market continues to show positive sentiment. The U3O8 SPOT price has now surpassed the US$70/Lb mark, indicating a robust market environment.

  • Geikie Project Advancements: Work is progressing steadily at the Geikie Project, following its inaugural drilling program. The company anticipates the results of an airborne gravity survey in October, which will provide further insights into the project's potential.

  • Financial Preparedness: Basin Energy remains well-funded and is in a strong position to undertake the next phase of exploration drilling.

The recent geophysical analysis has been particularly enlightening. The identification of the geophysical anomalies is a promising development, especially considering the limited exploration previously conducted on these tenements. Basin Energy is poised to leverage these findings for future exploration endeavors, aligning them with the continuous work at Geikie.

Basin’s Managing Director, Pete Moorhouse, commented: “Basin has continued advancing the Marshall Project through the reprocessing of historic geophysical data – this is a continuation of the recently updated work at North Millennium which identified a significant unconformity target.

The identified sandstone conductivity anomalies, with corresponding basement anomalies provide immediate targets for Athabasca unconformity and basement hosted uranium mineralisation exploration and we are very excited with the results from the review of the historical data.

Combined with Basin’s recent work at North Millennium, the studies support our prospectivity analysis for this area, located within the heartland of the traditional uranium discoveries of the eastern Athabasca. With U3O8 spot prices continuing to surge, we are positioning Basin in the enviable position of having multiple top-quality exploration targets in the world’s best uranium jurisdiction.”

Next Steps

The Company has now completed review of both the Marshall and neighbouring North Millenium Projects 4 , and plan to streamline exploration efforts to advance both Projects simultaneously. Next steps for the will likely include Stepwise Moving Loop Time-Domain Electromagnetic (SWML TDEM) surveys combined with Direct Current Resistivity and Induced Polarisation (DCIP) focussing on the priority areas highlighted in figures 2 to 4. Electrical and electromagnetic methods are commonly used in the Athabasca region to detect subsurface geological targets often associated with uranium mineralisation. Such geological targets include large graphitic conductors and the mapping of faults and fracture zones. Both SWML TDEM and DCIP methods are ground-based surveys, offering smaller scale coverage with higher resolution geophysical imagery. 

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


More from this category

  • Business Company News, Finance Investment
  • 14/06/2024
  • 12:23
Jane Morgan Management

LTR Pharma Wins IPO of the Year Award, Celebrating Groundbreaking Advancements in Men’s Health

Sydney, Australia – 14 June 2024 – LTR Pharma, an ASX-listed company dedicated to improving men's health, is proud to announce be announced as the winner of the prestigious IPO of the Year Award. This accolade highlights the company's remarkable entry into the public market and its promising future in the healthcare sector. The Australian Stockbrokers Foundation award ceremony was held last night at the Sofitel Wentworth in Sydney and celebrated LTR Pharma's innovation and impact. Alpine Capital has been instrumental in this achievement, acting as the Lead Manager for LTR Pharma's successful IPO. Their expertise and strategic guidance have…

  • Industrial Relations, Oil Mining Resources
  • 13/06/2024
  • 14:57
Mining and Energy Union

Six-month lifeline for Eraring coal deal welcome but uncertainty remains

The Mining and Energy Unionwarns that workers at Myuna and Mandalong coal mines still face an uncertain future, despite a short-term deal struck between Origin Energy and Centennial Coal to keep supplying coal as part of a six-month extension. In May, the NSW Government and Origin reached an agreement to extend the operating life ofEraring Power Station until 2027. Northern Mining and NSW Energy District President Robin Williams said that while theMEU welcomed the announcement, workers would still find themselves in the same position in six months’ time. “Workers are hopeful that a longer-term arrangement can be reached considering that…

  • Employment Relations, Oil Mining Resources
  • 13/06/2024
  • 13:59

Court Hearing for Sibelco Silicosis Cases

The Australian Workers Union stands in solidarity with three of its members, Kevin Weekes, Craig Robertson, and Alan Jenkins, as their cases against former employer Sibelco are heard in Wonthaggi court tomorrow (14th of June 2024). These men, among many others, have been diagnosed with silicosis, a debilitating lung disease caused by prolonged exposure to silica dust in their workplaces. Call for Action and Legal Support The stories of Kevin, Craig, and Alan highlight the urgent need for stronger safety regulations and comprehensive support for workers affected by silicosis. Their struggle for justice represents a broader call to action for…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.