Sweden’s Uranium Ban Lift Nears as Basin Energy Confirms Open-Ended Mineralisation

Historical Data Reassessed and Validated

Basin Energy Limited (ASX – BSN) has announced the successful re-assaying and validation of historical diamond drill core from its northern Sweden uranium projects – Bjorkberget, Ravaberget, and Virka. This work has filled gaps in previously incomplete data, confirming significant uranium mineralisation across all three project areas. The re-assayed intervals reveal promising grades and thicknesses, with mineralisation open both at depth and along strike, suggesting considerable exploration upside.

Key Mineralised Intercepts and Geological Context

Notable results include shear-hosted uranium mineralisation at Bjorkberget, such as 12 metres at 0.12% U3O8 including 4 metres at 0.23% U3O8, and 2.5 metres at 0.27% U3O8 from deeper intervals. Ravaberget showed thick mineralised zones, including 14.4 metres at 0.15% U3O8 from shallow depths. Virka’s sampling corroborated previous findings by Aura Energy, with additional high-grade zones identified, including localized intervals exceeding 0.6% U3O8. The projects are situated within the geologically prospective Fennoscandian Shield, a region known for diverse mineral deposits and structural complexity conducive to uranium and rare earth element mineralisation.

Regulatory Changes Pave the Way for Exploration

Sweden’s government is set to lift its moratorium on uranium exploration in January 2026, a move that will unlock the potential of Basin Energy’s portfolio. This regulatory shift is critical, as it enables Basin to advance exploration activities, including detailed mapping, airborne geophysical surveys, and drilling programs aimed at delineating the scale and grade of mineralisation. Basin’s Managing Director, Pete Moorhouse, highlighted the company’s early-mover advantage in positioning itself at the forefront of Europe’s emerging uranium and critical minerals sector, which is integral to the continent’s transition to secure, low-carbon energy supply chains.

Technical Rigor and Confidence in Data Integrity

The re-assay program employed modern analytical techniques, including ICP-MS, to ensure data accuracy. Cross-validation with historical Swedish Geological Survey data showed strong correlation, typically within 15% variance for uranium grades. This consistency reinforces confidence in the historical drill database and supports the robustness of Basin’s exploration model. The mineralisation is closely associated with hematite, magnetite, and sulphide minerals, with minor base metals such as zinc also present, indicating polymetallic potential.

Next Steps and Market Implications

Basin Energy plans to integrate the new assay results into a comprehensive GIS system to guide follow-up exploration. The company intends to conduct further surface mapping, sampling, and airborne geophysical surveys during the northern hemisphere summer and fall, followed by targeted drilling to test extensions and depth potential. These efforts aim to unlock the district-scale potential of the Trollberget project area and its sub-projects. Investors and market watchers will be keen to see how Basin leverages this validated data to advance resource definition and development in a strategically important European uranium province.