Basin Energy Limited announces the signing of a binding agreement to acquire an exploration portfolio located within Scandinavia. There is no modern systematic exploration undertaken, with last significant exploration in 1980’s highlighting district scale potential.
Work program will commence immediately including stakeholder engagement, relogging historic core, surface sampling and mapping.
Basin’s Managing Director, Pete Moorhouse, commented:
“Basin has been assessing opportunities since inception that fit the exploration criteria for potential world class discoveries. We are excited to add this complimentary portfolio to our existing asset base. The acquisition provides multiple near surface targets for uranium and green energy metals, that can be advanced cost effectively. Whilst exploration success was achieved in the 1980s, very little modern exploration has occurred. As of 2021, Sweden’s known uranium assets make up about 27% of Europe’s uranium resources”.
“We remain committed to advancing our existing uranium portfolio in the world-class Athabasca Basin, however, we also recognise the significant opportunity presented to Basin for broader exposure to uranium and green energy metal discoveries that are required to fulfil the metals void created by the global push toward decarbonisation. “
“We will update the market with detailed project-level information shortly as we conduct initial work programs and further data verification of this exciting new package.”