James Sykes: Achieving Mining Success

James Sykes
James Sykes

With a sharp focus on uranium exploration in the Athabasca Basin area of northern Saskatchewan, Canada, Baselode Energy Corp has kept its promising start. Since going public on the Toronto Venture Stock Exchange and the OTC Markets Group in 2020, Baselode has been on a mission to discover high-grade uranium orebodies that can be mined using open pit methods and are close to existing infrastructure.

The success of Baselode Energy Corp. can be attributed in part to the leadership of James Sykes, who serves as the company’s CEO, President, and Director. Throughout his 16-year career, Sykes has been directly and indirectly credited with discovering over 500 million pounds of U3O8 (uranium oxide). His most notable discovery, aside from ACKIO, was the Arrow discovery for NexGen Energy Ltd. Sykes’ expertise has helped transform companies from ten-million-dollar market caps to hundreds of millions and even billion-dollar market caps.

His in-depth knowledge of uranium deposits in the Athabasca Basin has enabled Baselode to efficiently and effectively use shareholder funds while increasing significant investment returns. With Sykes at the helm, Baselode is well-positioned to continue making impressive discoveries in the uranium exploration industry.

Promising Efforts

The company’s Athabasca 2.0 exploration model is designed to achieve just that, and the company’s innovative use of technology, geophysical methods, and geological interpretations has yielded positive results. The company’s first-ever drill program led to the discovery of the ACKIO uranium deposit in September 2021, proving the exploration model’s effectiveness and providing investors with a quick return on investment. With Baselode’s assets in one of the wealthiest uranium jurisdictions in the world, the company’s unique and favorable reward potential makes it a strong contender in the uranium exploration market.

The Athabasca Basin has a rich history of uranium deposits, with those amenable to open-pit mining methods proving particularly valuable. Deposits with less than 100 m of Athabasca Basin sandstone cover have historically gone from discovery into production within six to twelve years. On the other hand, deposits with greater than 100 m of sandstone cover have required unconventional underground mining methods and have taken longer to develop, with many remaining in the ground even 50 years after their discovery.

The open pit mines in the area have proven remarkably successful, with uranium mills being built in the Basin as a result. Baselode Energy Corp.’s Athabasca 2.0 exploration strategy is built on tried, tested, and proven principles within this rich uranium jurisdiction. By focusing on discovering near-surface, basement-hosted, high-grade uranium orebodies within proximity to pre-existing infrastructure, the company’s strategy offers unique and favorable reward potential for investors.

Making the Mark

ACKIO, discovered by Baselode Energy Corp. in September 2021, is a game-changing find for the company. The near-surface, basement-hosted, high-grade uranium discovery is located within short distances of highways, powerlines, and uranium mills, making it an attractive prospect for investors.

Since its discovery, Baselode has completed 80 drill holes for 24,000 meters of diamond drilling, defining a uranium mineralization system with at least five different zones. The system measures 375 meters along strike and is more than 150 meters wide, starting at 25 meters beneath the surface and extending to approximately 300 meters deep.

Mineralization remains open to the west, south, and along the Athabasca unconformity from the north to the south. The discovery of ACKIO has transformed Baselode, providing future opportunities for additional investment rewards and rewarding the company’s shareholder base.

Facing Challenges

Given the current market conditions and public sentiment towards nuclear energy, Baselode Energy Corp. needs help securing shareholder investments to fund their exploration activities. While the nuclear industry has seen a resurgence of positivity, concerns surrounding nuclear energy’s safety and environmental impact may deter some investors from supporting uranium exploration companies.

The aftermath of the Fukushima incident caused uranium investments to plummet for a decade. Recent inflation and bank failures further reduced investor willingness to take risks in the junior exploration space.

Despite these headwinds, the company’s success in discovering high-grade uranium deposits in the Athabasca Basin with the potential for open pit mining and the leadership of James Sykes, a renowned expert in the field, may provide investors with the confidence to invest in Baselode’s future.

The Driving Force

Baselode is committed to delivering the best possible returns for shareholders by wisely, strategically, and optimistically deploying capital for the quickest discovery path. James says, “Our shareholders have supported our company from Day 1, and we’ll continue to put our best foot forward to achieve returns on their investments. Our team members are all shareholders in the company. The Baselode team firmly believes nuclear energy is the best global energy path forward to meet climate change demands. We are finding the fuel to help global civilization enjoy safe and clean energy for future generations.”

Market Orientation

James understands the importance of the mining industry in meeting the demands of a growing and electrified world. He recognizes that commodity prices must increase to incentivize lower-grade mining operations. Despite this, James remains steadfast in his belief that nuclear energy is the best option for providing the energy our future world will require.

Baselode’s approach to finding the fuel is unique in that they seek out uranium deposits near-surface and are amenable to open pit mining operations. This approach is not reliant on higher uranium prices for extraction and can be mined at today’s uranium market prices.

Helping Hand

Baselode’s commitment to responsible and sustainable mining extends beyond its exploration and development activities. While the company strives to discover new uranium deposits to meet the world’s growing energy demands, it also recognizes the importance of contributing to the communities where it operates.

James and his team have engaged with First Nation, Indigenous, and Northern businesses for all their field operations, supporting local economies and providing employment opportunities. In addition, the company has provided community funding for various initiatives, such as purchasing new computers for schools and supporting cultural camps.

Baselode has also supported youth development programs, including financing the participation of a youth soccer team in two tournaments and supporting a community outdoor rink. The company’s efforts reflect its belief in the importance of sustainable mining and community development for a better future.

Future Ready

James has ambitious goals for the future of Baselode. He hopes to bring the ACKIO deposit into development and find more uranium deposits on their projects. Although he acknowledges that it may take over five years to achieve this, James and his team are committed to realizing these dreams.

They understand that many steps are involved in the process, including defining the deposit’s size, conducting environmental and wildlife studies, engaging with local indigenous communities, and meeting all permitting requirements.

Despite the challenges, James believes that Baselode’s ambitions are achievable, and he is already investigating the critical paths for enabling and infrastructure establishment. James also wants Baselode to be recognized as a preeminent uranium exploration company with multiple discoveries.

He wants investors to think of Baselode first when considering investing in the uranium space. James is not just dreaming; he is determined to act on his dreams and make them a reality.