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Basin Energy Expands Geikie Uranium Project in Canada's Athabasca Basin - Basin Energy

2 Apr 2025 9:50 AM

MEDIA RELEASE
2 April 2025

Basin Energy Expands Geikie Uranium Project in Canada’s Athabasca Basin

Perth, Australia – 2 April 2025 – Basin Energy Limited (ASX: BSN) (“Basin” or “the Company”) is pleased to announce the expansion of its 60%-owned Geikie Uranium Project, located on the eastern margin of Canada’s world-class Athabasca Basin. Two additional mineral claims have been secured through staking, adding a further 22.3km² to the project area and bringing the total Geikie Project footprint to 373.1km².

The newly staked claims lie adjacent to the Preston Creek prospect, where 2024 drilling outlined a large-scale hydrothermal system with uranium anomalism along a structurally complex corridor. A significant 1.5-kilometre gravity anomaly, associated with uranium-bearing alteration, extends into the new tenements and remains untested.

Key Highlights

Two additional mineral claims (MC00022218 and MC00022219) added through staking, totalling 22.3km².
Expansion increases Geikie’s total landholding to 373.1km².
New ground lies contiguous to the Preston Creek prospect, where 2024 drilling intersected significant alteration and uranium anomalism.
1.5km of untested gravity low anomaly now captured within newly staked claims.
Additional claims incorporated into Basin’s existing earn-in agreement with CanAlaska Uranium Limited.

Comment from Managing Director, Pete Moorhouse

“We are very pleased with the acquisition of these new claims contiguous to the highly prospective Preston Creek prospect at Geikie. 2024 drilling at Preston Creek highlighted a spectacular structure-related alteration system with uranium anomalism. This 1.5 km strike gravity anomaly, which remains untested to the northeast into the newly staked claims, exhibits all the key elements typically found in basement-hosted high-grade uranium mineralisation. Securing the tenures contiguous to this system is a fantastic addition to the Geikie project.”

About the Newly Staked Ground

The new claims were secured through the Saskatchewan Government’s mineral disposition process and are now part of Basin’s earn-in agreement with CanAlaska Uranium Limited, originally signed in April 2022. Under this agreement, Basin has the right to earn up to 80% ownership of the Geikie Project through a staged earn-in structure. Basin currently holds a 60% interest.

Preston Creek Prospect: High-Priority Exploration Target

2024 drilling at Preston Creek confirmed the presence of a broad hydrothermal system hosted in a complex fault zone. Drillholes GKI-014 and GKI-016 intersected pervasive alteration and uranium anomalism, with only a portion of the 1.5km gravity anomaly tested to date. The untested northeastern extension of this anomaly lies within the newly staked claims and represents a priority exploration target for upcoming field campaigns.

About us:

About Basin Energy

Basin Energy (ASX: BSN) is a green energy metals exploration and development company with an interest in three highly prospective projects located in the southeast corner and margins of the world-renowned Athabasca Basin in Canada, and a recently acquired significant portfolio of green energy metals exploration assets located in Scandinavia.

For more information, visit: www.basinenergy.com.au

Contact details:

Pete Moorhouse
Managing Director
E: [email protected]
T: +61 7 3667 7449

Chloe Hayes
Investor & Media Relations
E: [email protected]
T: +61 458 619 317