Forum-Baselode: Aberdeen Project Drill Program to Start in July
Baselode Energy Corp. (OTCQB: BSENF) and Forum Energy Metals Corp. have announced the commencement of their joint exploration program at the Aberdeen Project in Nunavut. The program includes a 2-drill diamond drill campaign set to begin in July 2025, with plans to complete 18-25 drill holes totaling up to 7,000 meters.
The exploration will focus on 10 high-priority target areas, including both sandstone-covered and basement-only targets. Initial drilling will concentrate on the Loki and Bjorn areas, with Loki showing promising results from 2024 drilling, including uranium values 30x background. The program aims to demonstrate the project's uranium discovery potential through testing multiple blue-sky targets, particularly focusing on strong gravity anomalies along prospective fault trends.
Baselode Energy Corp. (OTCQB: BSENF) e Forum Energy Metals Corp. hanno annunciato l'avvio del loro programma di esplorazione congiunta presso il Progetto Aberdeen in Nunavut. Il programma prevede una campagna di perforazione diamantata con 2 trivelle che inizierà a luglio 2025, con l'obiettivo di completare 18-25 fori per un totale fino a 7.000 metri.
L'esplorazione si concentrerà su 10 aree target ad alta priorità, comprendenti zone coperte da arenaria e solo il basamento roccioso. Le perforazioni iniziali saranno focalizzate sulle aree di Loki e Bjorn, con Loki che ha mostrato risultati promettenti dalle perforazioni del 2024, inclusi valori di uranio 30 volte superiori al fondo naturale. Il programma mira a dimostrare il potenziale di scoperta di uranio del progetto testando molteplici obiettivi di grande interesse, con particolare attenzione alle forti anomalie gravitazionali lungo tendenze di faglie promettenti.
Baselode Energy Corp. (OTCQB: BSENF) y Forum Energy Metals Corp. han anunciado el inicio de su programa conjunto de exploración en el Proyecto Aberdeen en Nunavut. El programa incluye una campaña de perforación diamantina con 2 taladros que comenzará en julio de 2025, con planes para completar 18-25 perforaciones que sumen hasta 7,000 metros.
La exploración se centrará en 10 áreas objetivo de alta prioridad, incluyendo objetivos cubiertos por arenisca y solo de basamento. Las perforaciones iniciales estarán enfocadas en las áreas de Loki y Bjorn, con Loki mostrando resultados prometedores de la perforación de 2024, incluyendo valores de uranio 30 veces superiores al fondo. El programa tiene como objetivo demostrar el potencial de descubrimiento de uranio del proyecto mediante la prueba de múltiples objetivos de gran potencial, enfocándose particularmente en fuertes anomalías gravitacionales a lo largo de tendencias de fallas prospectivas.
Baselode Energy Corp. (OTCQB: BSENF)와 Forum Energy Metals Corp.가 누나부트에 위치한 Aberdeen 프로젝트에서 공동 탐사 프로그램을 시작한다고 발표했습니다. 이 프로그램은 2025년 7월에 시작될 예정인 2대의 다이아몬드 시추 장비를 이용한 시추 캠페인을 포함하며, 총 18~25개의 시추공을 완성하여 최대 7,000미터를 목표로 하고 있습니다.
탐사는 사암으로 덮인 지역과 기저암만 있는 10개의 우선순위 높은 타겟 지역에 집중될 예정입니다. 초기 시추는 Loki와 Bjorn 지역에 집중되며, Loki 지역은 2024년 시추에서 배경치의 30배에 달하는 우라늄 수치를 포함한 유망한 결과를 보여주었습니다. 이 프로그램은 여러 잠재적 타겟을 시험하여 프로젝트의 우라늄 발견 가능성을 입증하는 것을 목표로 하며, 특히 유망한 단층 경로를 따라 강한 중력 이상 현상에 주목하고 있습니다.
Baselode Energy Corp. (OTCQB : BSENF) et Forum Energy Metals Corp. ont annoncé le lancement de leur programme d'exploration conjoint sur le projet Aberdeen au Nunavut. Ce programme comprend une campagne de forage diamantée avec 2 forages prévue pour débuter en juillet 2025, avec l'objectif de réaliser 18 à 25 trous de forage totalisant jusqu'à 7 000 mètres.
L'exploration se concentrera sur 10 zones cibles prioritaires, incluant des cibles recouvertes de grès ainsi que des cibles uniquement sur socle. Les premiers forages seront axés sur les zones de Loki et Bjorn, Loki ayant montré des résultats prometteurs lors des forages de 2024, avec notamment des teneurs en uranium 30 fois supérieures au fond. Le programme vise à démontrer le potentiel de découverte d'uranium du projet en testant plusieurs cibles à fort potentiel, en mettant particulièrement l'accent sur de fortes anomalies gravimétriques le long de failles prospectives.
Baselode Energy Corp. (OTCQB: BSENF) und Forum Energy Metals Corp. haben den Beginn ihres gemeinsamen Explorationsprogramms beim Aberdeen-Projekt in Nunavut bekannt gegeben. Das Programm umfasst eine Bohrkampagne mit 2 Diamantbohrgeräten, die im Juli 2025 starten soll, mit dem Ziel, 18-25 Bohrlöcher mit insgesamt bis zu 7.000 Metern abzuschließen.
Die Exploration konzentriert sich auf 10 prioritäre Zielgebiete, darunter sowohl von Sandstein bedeckte als auch reine Grundgebirgsmassive. Die ersten Bohrungen werden sich auf die Gebiete Loki und Bjorn fokussieren, wobei Loki bereits vielversprechende Ergebnisse aus den Bohrungen 2024 zeigte, einschließlich Uranwerten, die das 30-fache des Hintergrundwertes betragen. Das Programm zielt darauf ab, das Uran-Entdeckungspotenzial des Projekts durch die Erprobung mehrerer vielversprechender Ziele zu demonstrieren, wobei besonderes Augenmerk auf starke Schwereanomalien entlang potenzieller Verwerfungen gelegt wird.
- Comprehensive exploration plan with 18-25 drill holes and up to 7,000 meters of drilling
- Previous drilling at Loki showed promising results with uranium values 30x background
- Strategic targeting of 10 high-priority areas increases discovery potential
- Merger between Forum-Baselode combines technical expertise and resources
- None.
JUNE 25, 2025
With Forum-Baselode Merger Now Announced, Drilling Starts Immediately
Camp mobilization underway on Aberdeen Project
Drilling to include 2 drills and approximately 7,000 m
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode") and Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum", together with Baselode, the "Parties") are pleased to announce that we are opening our exploration camp on the Aberdeen Project in Nunavut and plan to initiate a 2-drill diamond drill program in July (Figure 1).
Key Highlights
Exploration Plan: 18-25 drill holes planned and up to 7,000 m
Target Areas: 10 high-priority target areas, both with and without sandstone cover; first targets tested will be Loki and Bjorn
"We are excited to begin our upcoming drill program on the Aberdeen Project. Our focus this year is to explore the wider project area by testing up to 10 high-priority target areas for additional uranium mineralized zones. Our plan is to showcase the uranium discovery potential of the project area by testing numerous blue-sky targets. Our drill targeting will focus on strong gravity anomalies along prospective fault trends both with and without sandstone cover," stated Rebecca Hunter, President, CEO and Director of Forum and upcoming Geiger Energy.
James Sykes, President and Chief Executive Officer of Baselode, stated: "We're excited to be part of this drill program on Aberdeen. Working together with Forum, we believe our combined efforts and ideas will expedite a discovery on Aberdeen. We are encouraged with the technical details of the project as many previous drill holes have highlighted robust hydrothermal fluid alteration systems that are fertile with uranium. The Loki and Bjorn areas that Forum have defined are some of the first areas that we deemed to be very prospective, too."
Aberdeen Program Details
Up to 7,000 m in 18-25 drill holes is planned at Aberdeen (Figure 2), depending on results. Targets and target criteria are as follows:
Sandstone-covered targets (i.e. traditional unconformity targets) such as Loki, Bjorn, Thor, Squiggly River and Nymeria - Loki and Bjorn will be the first 2 areas tested. Drilling in 2024 at Loki contained uranium values 30x background and substantial clay alteration in the sandstone
Basement-only targets including Lobster, Tarzan, Willow, Apollo and Starbuck; three historical drill holes at Tarzan intersected significant clay alteration and elevated boron
Drill targets are selected and prioritized based on the presence of gravity low anomalies in concert with major ENE- and NE-trending faults, as well as any nearby drill or surface data that show prospective fault structures, clay or geochemical signatures
The 2025 program is focused on finding additional high-grade discoveries to build scale and enhance the discovery potential in the district. Ground magnetic surveys are planned on 6 to 10 of the target areas to help refine the main fault zones within the drill areas.
The exploration camp is currently being opened, and drilling is expected to be underway shortly after camp is operable.
Figure 1: Project location map.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/256741_c9528e194407e9df_001full.jpg
Figure 2: Project map with 2025 target areas overlying residual gravity image.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/256741_c9528e194407e9df_002full.jpg
About Baselode
Baselode controls
Baselode discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.
Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside the Athabasca Basin. The exploration thesis is further complemented by Baselode's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.
About Forum
Forum Energy Metals is focused on the discovery of high-grade, unconformity-related uranium deposits in Canada's premier uranium jurisdictions: the Athabasca Basin in Saskatchewan and the Thelon Basin in Nunavut. The Company holds a significant land position with 153,838 hectares in Saskatchewan - primarily within the Athabasca Basin - and 95,519 hectares in Nunavut's Thelon Basin.
Forum's flagship asset is the Aberdeen Project in Nunavut, which hosts the high-grade Tatiggaq and Qavvik uranium discoveries. Tatiggaq is a basement-hosted prospect defined over a 300-metre strike length, comprising multiple steeply dipping, ENE-trending mineralized lenses located at depths between 80 and 180 metres. Notable intercepts include
In addition to these discoveries, the Aberdeen Project hosts over 50 high-priority exploration targets, many of which exhibit strong alteration and anomalous geochemistry from limited historical drilling - or remain entirely untested.
Qualified Person Statement
For Forum Energy Metals Corp: The technical information contained in this news release has been reviewed and approved by Rebecca Hunter, P.Geo, President & CEO of Forum Energy Metals Corp., a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
| ON BEHALF OF THE BOARD OF DIRECTORS OF BASELODE ENERGY CORP. "James Sykes" James Sykes CEO, President, & Director Email: jsykes@oregroup.ca Phone: 416-644-1567 | ON BEHALF OF THE BOARD OF DIRECTORS OF FORUM ENERGY METALS CORP. "Rebecca Hunter" Rebecca Hunter, PhD. P. Geo. President & CEO hunter@forumenergymetals.com Phone: 604-630-1585 |
Cautionary Statement
Certain information in this news release is considered forward-looking within the meaning of certain securities laws and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to Baselode's and Forum's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes Baselode's and Forum's expectations as of the date of this news release. Forward-looking statements in this news release include, but are not limited to statements with respect to the anticipated timing for the meeting of Forum shareholders and closing of the Arrangement, the anticipated consideration to be issued by Baselode and received by Forum shareholders, and the satisfaction of closing conditions including: (i) required Forum shareholder approval; (ii) necessary court approval in connection with the Arrangement; (iii) certain termination rights available to the Parties under the Agreement; (iv) obtaining the necessary approvals from the TSX-V; and (v) other closing conditions as set forth in the Arrangement Agreement.
The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions; adverse industry events; inability to realize anticipated synergies; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; income tax and regulatory matters; the ability of Baselode and Forum to implement their business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive.
Baselode and Forum caution that the foregoing list of material factors is not exhaustive. When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Baselode and Forum have assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF BASELODE AND FORUM AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE BASELODE AND FORUM MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
________________________
1 Refer to Forum News Release dated September 12, 2023, titled "Forum intersects
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256741
FAQ
When will Baselode Energy (BSENF) start drilling at the Aberdeen Project?
How many drill holes are planned for the Aberdeen Project in 2025?
What are the main target areas for Baselode's Aberdeen Project drilling?
What were the previous drilling results at the Loki target?
How is Forum-Baselode selecting their drill targets at Aberdeen?
