Basin Energy Ltd (BSN.AX) Quarterly Activities Report
Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is pleased to provide an overview of activities for the period ending 31 March 2025 ('Quarter', or the 'Reporting Period') and an accompanying Appendix 5B.
Key Highlights
- Finalised the acquisition of a 100% interest in a uranium and green energy metals exploration portfolio in Sweden and Finland
- Received initial reconnaissance mapping and geochemical sampling results from Sweden
o Exceptional results with highlights including rock chip samples over 5.9% uranium, up to 9.8% zinc and greater than 0.3% total rare earth oxides
- Expanded Swedish portfolio through the staking of the Trollberget licence, doubling Basin's landholding within the Swedish Arvidsjaur-Arjeplog uranium district
- Completed extensive relogging and sampling of historic core from North Sweden projects, successfully identifying structures associated with mineralisation
- Expanded Athabasca uranium portfolio through the staking of two additional claims adjacent to the Preston Creek drill target area at the Geikie project
Basin's Managing Director, Pete Moorhouse, commented:
"The first quarter of 2025 has been a transformative period for the company. We successfully completed the acquisition of a highly prospective uranium and green energy metals exploration portfolio in Scandinavia. This strategic expansion not only diversifies our asset base but also positions us to capitalize on the evolving European energy landscape. Notably, the Swedish government's recent recommendation to lift the uranium mining ban further enhances the potential of our new assets.
Concurrently, we continue to advance our Canadian uranium projects in the Athabasca Basin, including the recent announcement of the successful staking of claims adjacent to the 2024 drilling at Preston Creek, part of the Geikie project.
The early exploration efforts in Scandinavia have already yielded highly encouraging results. At the Virka project in northern Sweden, rock chip assays returned high-grade mineralization including up to 1.43% U3O8, 9.8% zinc, 9.15% lead, and 0.34% copper, highlighting the polymetallic potential of the area. Furthermore, rock chip results from the neighbouring Bjorkberget returned uranium in excess of 5.9%. At our Prastrun and Hakantorp projects, assays identified up to 0.43% niobium, 0.39% U3O8, and 0.33% total rare earth oxides.
These outcomes, combined with the geological observations from mapping and logging, have validated our strategic focus on these critical mineral projects. We are excited about the scale of opportunity unfolding and remain committed to advancing our exploration programs and delivering shareholder value through discovery and development."
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/93YP0107
Pete Moorhouse Managing Director pete.m@basinenergy.com.au +61 7 3667 7449 Chloe Hayes Investor and Media Relations chloe@janemorganmanagement.com.au +61 458619317
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