09:31:48 EDT Sat 15 Jun 2024
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or Name
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CA



Basin Uranium Corp (2)
Symbol NCLR
Shares Issued 19,587,702
Close 2024-06-10 C$ 0.48
Market Cap C$ 9,402,097
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Basin Uranium applies for Chord drill permit

2024-06-11 09:28 ET - News Release

Mr. Mike Blady reports

BASIN URANIUM PERMITS FOR ADDITIONAL DRILLING AND ISR TESTING AT CHORD

Basin Uranium Corp. has provided an update on permitting for the company's flagship Chord uranium project in South Dakota. The company has submitted a permit application for the drilling of 17 holes for a total of approximately 9,000 feet with the objective of upgrading the existing National Instrument 43-101 inferred resource to measured and indicated, expanding the known mineralization at October Jinx, performing pump tests to assess the amenability for ISR (in situ recovery), characterizing the aquifer(s), and installing monitoring wells for future development. This application is in addition to the company's announcement on April 30, 2024, which was for permitting on the 640-acre state section (Section 36-7S-2E).

"We have designed our exploration program at Chord to derisk the project and expand on our recently announced maiden resource estimate," commented Mike Blady, chief executive officer of Basin Uranium. "We are concurrently permitting both the original 3,000-acre portion of the claims, which have the majority of historical exploration in addition to the 640-acre portion, which we believe hosts one of the potential extensions of the October Jinx mineralization to the south-southeast. Both have the common objectives of expanding the NI 43-101 resource, conducting baseline studies and tests to evaluate the potential for the company to define a low-cost, ISR-amenable project."

About Basin Uranium Corp.

Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has five advanced-stage uranium projects located in the United States, namely the Chord and Wolf Canyon projects in South Dakota, the South Pass and Great Divide Basin projects in Wyoming, and the Wray Mesa project in Utah. All five projects have seen extensive historical exploration and located in prospective development areas. The company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia.

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