Purepoint Refines High-Priority Targets and Prepares for Drilling at Smart Lake JV Project
Purepoint Refines High-Priority Targets and
Prepares for Drilling at Smart Lake JV Project
Toronto, Ontario--(Newsfile Corp. - February 14, 2025) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF) ("Purepoint" or the "Company") is pleased to announce that recent ground
electromagnetic (EM) surveys at the Smart Lake Joint Venture (JV) project have refined high-priority drill
targets along the Groomes Lake Conductor with drilling scheduled to begin in mid-March. Smart Lake is
a joint venture between Cameco Corporation (73%) and Purepoint (27%) in the Southwest Athabasca
Basin, Saskatchewan, Canada.
Highlights
A stepwise-moving loop time domain electromagnetic (SWMLTEM) and fixed loop time domain
electromagnetic (FLTEM) survey was conducted during November and December of 2024 to
refine targets for the upcoming drill program.
The survey covered 31.5 line-kilometres across 19 loops using 12 lines spaced 600 metres apart.
Three discrete parallel EM conductors, approximately 100 metres apart extending over 2.2
kilometers, were outlined, representing highly prospective drill targets (Figure 1).
"The new electromagnetic survey has provided high-resolution targets within an area of Smart Lake that
remains largely untested by historical drilling," said Scott Frostad, Vice President of Exploration at
Purepoint Uranium. "Given the basement-hosted uranium mineralization we encountered in our initial drill
program, we're excited to return and test these newly identified conductors next month."
Revisiting a Proven Uranium Target
The 2025 drill program follows up on encouraging results from Purepoint's initial drill campaign in 2008
where uranium mineralization was intersected in faulted and altered basement rock. Drill hole SMT08-05
returned 147 ppm U over 15.4 metres (153.0 to 168.4 metres) from a hematite breccia and sheared fault
zone.
While exploration at Smart Lake was previously postponed as focus shifted to Hook Lake's s Patterson
Corridor the property remains a high-priority target within Purepoint's portfolio.
The strong EM
conductors, favourable structural setting, and similarities to high-grade uranium deposits in the
Athabasca Basin reinforce the project's exploration potential.
2025 Groomes Lake Drill Program
The upcoming Smart Lake drill program will focus on the northern Groomes Lake area where
geophysical data has defined multiple conductors in a structurally complex and highly prospective
uranium setting. Despite these strong indicators, the conductive package remains largely untested,
presenting a significant opportunity for discovery.
A National Instrument 43-101 compliant Technical Report for the Smart Lake project is available on the
Company's website. The technical report for Smart Lake filed by the Company in 2012 under the
Company's profile at
https://www.sedarplus.ca/
and displayed on its website at
https://purepoint.ca/projects/smart-lake/
may be relied on for background information but contains a work
program not updated to reflect current exploration plans.
Figure 1:
Stepwise-Moving Loop Time Domain Electromagnetic (SWMLTEM) and Fixed Loop Time
Domain Electromagnetic (FLTEM) survey over the Groomes Lake Conductor
To view an enhanced version of this graphic, please visit:
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Figure 2:
Smart Lake Project Location
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About Smart Lake
The Smart Lake Project is located approximately 60 km south of the historic Cluff Lake mine and 18 km
west-northwest of the Hook Lake JV Project (Figure 2). The property spans 9,860 hectares within the
Athabasca Basin, an area renowned for hosting the world's highest-grade uranium deposits.
Initial exploration at Smart Lake established the presence of graphitic shear zones, hydrothermal
alteration, and anomalous radioactivity. The favourable geological indicators, combined with its strategic
location and extensive geophysical data, position Smart Lake for uranium exploration success.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic
portfolio of advanced projects within the renowned Athabasca Basin in Canada. The most prospective
projects are actively operated on behalf of partnerships with industry leaders including Cameco
Corporation, Orano Canada Inc. and IsoEnergy Ltd.
Additionally, the Company holds a promising VMS project currently optioned to and strategically
positioned adjacent to and on trend with Foran Corporation's McIlvena Bay project. Through a robust and
proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the
globe's most significant uranium districts.
Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, is the Qualified Person
responsible for technical content of this release.
For more information, please contact:
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email:
For additional information please visit our new website at
https://purepoint.ca
,
our Twitter feed:
@PurepointU3O8
or our LinkedIn page
@Purepoint-Uranium
.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press
release.
Disclosure regarding forward-looking statements
This press release contains projections and forward-looking information that involve various risks and
uncertainties regarding future events. Such forward-looking information can include without limitation
statements based on current expectations involving a number of risks and uncertainties and are not
guarantees of the future performance of the Company. These risks and uncertainties could cause actual
results and the Company's plans and objectives to differ materially from those expressed in the forward-
looking information. Actual results and future events could differ materially from those anticipated in such
information. These and all subsequent written and oral forward-looking information are based on
estimates and opinions of management on the dates they are made and expressly qualified in their
entirety by this notice.
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