In its press release, the company commended its Advanced Geophysical Analysis, which operates using 3D inversion data. This dataset, which was created in collaboration with experts from Computational Geosciences Inc. and Convolutions Geoscience, has led to the identification of multiple priority anomalies which determine the position of the company’s next drill site. According to Geoscience experts, these anomalies are located both above and below the Athabasca basin and are present in both the sandstone and basement layers.
Basin Energy’s Managing Director, Pete Moorhouse, commented:
[The] Basin has continued advancing the Marshall Project through the reprocessing of historic geophysical data – this is a continuation of the recently updated work at North Millennium, which identified a significant unconformity target.
Combined with Basin’s recent work at North Millennium, the studies support our prospective analysis for this area, located within the heartland of the traditional uranium discoveries of the eastern Athabasca. With U3O8 spot prices continuing to surge, we are positioning Basin in the enviable position of having multiple top-quality exploration targets in the world’s best uranium jurisdiction.
Moorehouse suggested that the traditional uranium discoveries in Athabasca have worked well with the technology available; however, the new 3D simulation aims to monitor, assess and actively search for new, previously undiscovered drill sites.
Basin Energy’s ongoing Geikie Project has completed its inaugural drilling program and is now set to drill in its secondary site. Moorehouse’s statement indicated that the results of an airborne gravity survey in October will provide further insights into the project’s potential.
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