Interview with James Sykes, President & CEO of Baselode Energy Corp.

Our previous interview: https://www.cruxinvestor.com/posts/baselode-energy-tsxvfind-junior-sitting-on-a-district-scale-uranium-jackpot-4517

Recording date: 24th January 2023

Baselode Energy is an aggressive uranium explorer assembled by sector veterans to capitalize on rising uranium prices. The company boasts a commanding land position targeting shallow, high-grade ore bodies in Saskatchewan’s uranium-rich Athabasca Basin. Its properties cover interpreted basement geology with structural similarities to existing major deposits, like McArthur River and Key Lake.

Unlike most competitors fixated on incredibly high-grade unconformity deposits buried 500+ meters downhole, Baselode deliberately pursues much shallower 350 meter or less targets in basement rocks beyond the Basin’s edges. This Athabasca 2.0 strategy prioritizes finding near-surface open pit amenable ore bodies with lower mining costs and faster development timelines.

The thesis already yielded a hit in September 2021 with Baselode uncovering its ACKIO prospect. ACKIO revealed 9 discrete high-grade uranium pods over a zone more than 375 meters long and 150 meters wide. Mineralization starts as shallow as 28 meters below surface. Assays graded up to 5.08% U3O8 over 0.35 meters, including 24.4% U3O8 over 0.1 meters.

CEO James Sykes believes plenty more near-surface deposits await discovery on Baselode’s properties, citing Athabasca’s extensive and largely untapped basement potential. He draws comparisons to Cameco’s Fox Lake deposit and NexGen’s Arrow discovery proving major mineralized basement systems exist beyond perceived basin boundaries. Integrating modern interpretations of basement structural controls with geophysics and drilling helps pinpoint targets.

To test ideas systematically, Baselode fields one of the basin’s largest exploration plays at 250,000+ hectares all consolidated into a single package. Properties encompass 80 kilometers of favorable stratigraphy with walk-up drill targets and expansion potential around older discoveries. The portfolio offers immense running room to pursue Athabasca 2.0 discoveries.

Well funded after a November 2023 capital raise, Baselode has aggressive 2024 plans. A 2,000 meter drill program launches mid-February, testing 5 basement targets exhibiting compelling geophysical signatures of structurally disrupted corridors like ACKIO. More programs will follow evaluating deeper targets and regional prospectivity.

With superior leverage to rising uranium prices through cost-effective mining optionality and buyouts, Baselode presents a compelling risk/reward opportunity. Its impressive exploration package and credentials also suggest rival takeover potential as basin consolidation accelerates. Upside remains substantial for investors buying at current levels.

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View Baselode Energy's company profile: https://www.cruxinvestor.com/companies/baselode-energy

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