Basin Energy (ASX:BSN) defines new uranium targets at Geikie, Canada

• Basin Energy (BSN) is planning an “aggressive” exploration program after defining new uranium targets at its Geikie project in Canada
• The company says recently-acquired high-resolution airborne radiometric and magnetic survey data confirmed previously-known structural corridors and delineated new areas
• Basin Energy’s Managing Director, Pete Moorhouse, says the survey data is of “exceptional quality” and has provided a solid foundation for further exploration
• The company has kicked off ground prospecting in the area and plans to begin diamond drilling during the first quarter of 2023
• BSN shares are trading grey at 18 cents at 2.04 pm AEDT

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

The company initially used historical data to gain an understanding of its project area and said it recognised two major north-south features with prominent coincident magnetic and topographic trends.

Now, high-resolution airborne radiometric and magnetic survey data has identified additional high-priority target areas.

Analysis of the data delineated radiometric anomalies using a combination of uranium, thorium and potassium ratio analysis, which confirmed previously-known structural corridors and delineated two new corridors.

Basin Energy’s Managing Director, Pete Moorhouse, said the survey data was of “exceptional quality” and had provided a solid foundation for further exploration.

“The new data is a significant enhancement of the historical dataset and has not only refined the initial areas of interest but also identified several previously-unrecognised prospective zones within the license area,” Mr Moorhouse said.

Given the results, BSN is now developing its exploration program, with ground prospecting underway.

In this vein, a contractor has been secured to fast-track a follow-up, project-wide high-resolution airborne electromagnetic survey next month.

This work will further refine drill targeting, allowing drill testing of the highest priority targets to commence in the company’s maiden drilling program scheduled for the first quarter of next year.

The Geikie project lies near the eastern margin of the world-class Athabasca basin in the Canadian Shield of northern Saskatchewan and Alberta.

BSN shares are trading grey at 18 cents at 2.04 pm AEDT.