Basin Energy starts Virka project exploration

Basin Energy (ASX:BSN) has announced the start of an exploration program at its Virka project in Scandinavia. The project follows a binding agreement to acquire an exploration portfolio in the region. The exploration will target three areas identified through historical data reviews indicating significant uranium mineralization potential.

Basin Energy's strategic exploration efforts

Basin Energy has initiated an exploration program at the Virka project, focusing on historical data that revealed significant uranium mineralization potential. The project, located in the Arjeplog-Arvidsjaur shear-hosted uranium district, aims to assess three key areas through mapping and sampling. The historical data suggests high uranium grades and potential for other metals. This venture is part of Basin Energy's strategy to expand its green energy metals portfolio in Scandinavia. The company plans to verify historical data to align with JORC Code requirements, aiming for future reporting and exploration success.

Insights from Basin Energy management

We are excited about the potential of the Virka project. The historical data suggests significant mineralization, and we are keen to verify and build on these findings. Our strategic expansion into Scandinavia aligns with our goal to grow our green energy metals exploration assets.