This fatal error is an indication of a component mapping error. It indicates that the resulting component configuration is inconsistant with the external connectivity of the component. In this case the IK pin of an IOB is involved. There is a signal on IK, but it is not configured to be used.
FATAL_ERROR:basnc:basncsignal.c:262:1.62 - Could not find a bel for a signal on pin IK of comp D<16>. Its current programmed state is : OUTMUX:O OMUX:O TRI:TNOT IMUX:DELAY IKMUX:IKNOT ISR:RESET I1MUX:I SLEW:SLOW Process will terminate. Please call Xilinx support.
A fix for this fatal error is included in the current M1.4 Core Applications patch available from the Xilinx Download Area: