Basin Energy Confirms Polymetallic Discovery Potential at Virka Project
High-Grade Zinc-Lead, Uranium, and Rare Earths Identified in Rock Chip Sampling
Basin Energy Limited (ASX: BSN) (“Basin” or “the Company”) is pleased to report highly encouraging surface rock chip assay results from the Virka Project in northern Sweden. The initial reconnaissance program has returned high-grade base metals and uranium mineralisation, confirming the presence of a significant polymetallic system and supporting further exploration.
Key Highlights
- High-Grade Zinc-Lead-Silver-Copper Veins Identified:
- VRK016: 9.8% Zn, 8.55% Pb, 305 g/t Ag, 0.19% Cu
- VRK013: 8.98% Zn, 9.15% Pb, 425 g/t Ag, 0.34% Cu
- Uranium Mineralisation Discovered in Separate Outcrop:
- VRK012: 1.43% U₃O₈, 0.14% TREO
- VRK018: 0.27% U₃O₈ from a boulder field
- VRK009: 0.18% U₃O₈, 0.073% TREO from radiometric boulder
- Two Distinct Mineralisation Styles Identified:
- Pb-Zn +/- Cu-Ag-Au Veins
- U-Pb-TREO Mineralisation in Structural Zones
- Broad Untested Exploration Potential:
- Multiple unvisited structural zone targets across the project area.
- Sampling confirms regional north-northeast structures similar to Björkberget and Trollberget.
- Further Fieldwork Planned for Q2 2025:
- Detailed structural logging of historical drill core.
- Expanded mapping and sampling of high-priority mineralised zones.
Polymetallic Discovery Potential Strengthened
The Virka Project, located within Sweden’s Radnejaur-Moskosel metallogenic district, hosts a geological setting highly prospective for zinc, lead, copper, uranium, and rare earth elements. Virka sits within 30km of major past-producing mines, including:
- Laisvall Pb-Zn-Ag Mine (64.3Mt @ 0.6% Zn, 4% Pb, 9 g/t Ag)
- Lulepotten Cu-Au Deposit (5.4Mt @ 0.8% Cu, 0.3 g/t Au)
Managing Director, Pete Moorhouse, commented:
"The two distinct styles of mineralisation recognised in the geochemistry within the project area is an important find from this initial program. From the previously reported historical drilling, we interpret that these structural systems have the potential for a large-scale discovery, so the presence of high-grade mineralisation in surface rock chip geochemistry is highly encouraging."
"The focus for the team remains to complete detailed structural logging of the available historic core to understand the relationship between structure, mineralisation, and geology. We are excited about the potential for further discoveries at Virka and across our broader Swedish portfolio."
Next Steps
- Completion of historical drill core logging to refine structural and mineralisation models.
- Expanded rock chip and soil geochemistry survey over untested structural zones.
- Mapping and geophysics to refine drill targets for a potential maiden drill campaign.
- Ongoing sampling and evaluation at Basin’s Björkberget and Trollberget projects.
About us:
About Basin Energy Limited (ASX: BSN)
Basin Energy is a green energy metals exploration company with a strategic focus on uranium and polymetallic mineralisation in Scandinavia and Canada. The Company holds three uranium projects in Canada’s Athabasca Basin and an expanding portfolio of critical minerals projects in Sweden and Finland.
For more information, visit www.basinenergy.com.au.
Contact details:
For Further Information:
Pete Moorhouse
Managing Director
Basin Energy Limited
Email: pete.m@basinenergy.com.au
Phone: +61 7 3667 7449
Jane Morgan
Investor & Media Relations
Email: jm@janemorganmanagement.com.au
Phone: +61 405 555 618
