Purepoint Uranium Begins Drill Program at Red Willow
Purepoint Uranium Begins Drill Program at
Red Willow
Toronto, Ontario--(Newsfile Corp. - January 18, 2023) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF)
("Purepoint"
or the
"Company"
) announced today the commencement of drilling at
its 100%-owned Red Willow project within the eastern uranium mine district of the Athabasca Basin,
Saskatchewan, Canada.
"At our Osprey Zone and the nearby Radon Lake Zone, we are continuing to follow-up on significant
uranium signatures identified across much greater strike length than we typically see elsewhere," said
Chris Frostad, President and CEO of Purepoint. "We anticipate drilling numerous holes this winter since
we are located on the shallow eastern edge of the Athabasca Basin and our target depths are less than
200 metres."
Highlights
Approximately 2,800 metres of diamond drilling across 15 holes are anticipated during this
program
Drill and crew mobilized at the Red Willow camp last week and commenced drilling this past
weekend at the Osprey Zone that returned 0.47% U3O8 over 0.9 metres in hole OSP22-06
Details of the Red Willow project and the Osprey and Radon Lake Zones can be found in the
Company's NI 43-101 compliant Technical Report available on our website at:
https://purepoint.ca/projects/red-willow/
A second drill program is currently underway at the Hook Lake Joint Venture project in the
southwestern edge of Canada's Athabasca Basin
Red Willow Project
The 100% owned Red Willow property is situated on the northern edge of the eastern Athabasca Basin
mine corridor in Northern Saskatchewan, Canada.
The property is near several uranium deposits
including Orano Resources Canada Inc.'s JEB mine, approximately 10 kilometres to the southwest, and
Cameco's Eagle Point mine that is approximately 10 kilometres due south.
Red Willow consists of 17 mineral claims having a total area of 40,116 hectares. Geophysical surveys
conducted by Purepoint have included airborne magnetic and electromagnetic (VTEM) surveys, an
airborne radiometric survey, ground gradient array IP, pole-dipole array IP, fixed-loop and moving-loop
transient electromagnetics, and gravity. The detailed airborne VTEM survey provided magnetic results
that are an excellent base on which to interpret structures while the EM results outlined over 70
kilometres of conductors that in most instances represent favourable graphitic lithology.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline
of 12 advanced projects in Canada's Athabasca Basin. In addition to its flagship joint venture project at
Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at Smart Lake,
Purepoint also holds ten, 100% owned projects with proven uranium rich targets. With an aggressive
exploration program underway on multiple projects, Purepoint is emerging as the preeminent uranium
explorer in the world's richest uranium district.
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 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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https://www.newsfilecorp.com/release/151594