Purepoint Uranium Begins Drilling at Red Willow's Osprey Zone
Purepoint Uranium Begins Drilling at Red
Willow's Osprey Zone
Toronto, Ontario--(Newsfile Corp. - January 12, 2022) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF)
("Purepoint"
or the
"Company"
) announced today that drilling has now
commenced at the 100%-owned Red Willow project within the eastern uranium mine district of the
Athabasca Basin, Saskatchewan Canada.
The 2022 Red Willow drill program will look to expand the
Company's Osprey discovery where initial drilling identified basement-hosted uranium mineralization
highlighted by RW-19 that intersected 0.19% U3O8 over 4.0 metres and included 3.03% U
3
O
8
over 0.1
metre.
"We're focusing our 2022 Red Willow drill program at the Osprey Zone, which hosts prior uranium
intercepts that we believe extend well beyond our initial findings," explained Scott Frostad, VP
Exploration at Purepoint. "The mineralized Osprey shear zone remains open at depth, the lens of flat-
lying uranium mineralization is untested towards the East, and the Osprey Conductor continues North for
2 kilometres with only limited drilling."
Highlights
Mobilization of the drill and temporary work camp for the 2022 Red Willow program began in late
December and drilling has now commenced at the Osprey Zone
The drill program will begin with initial step-outs of the known Osprey mineralization and testing of
the Osprey conductor towards the north
Exploration program plans for approximately 3,000 metres of drilling in 20 holes
Crews and equipment have been contracted to continue drilling until April, 2022
A National Instrument 43-101 compliant technical report on the Red Willow project containing
Purepoint's work and analysis to date can be found on the Company's web site at
https://purepoint.ca/projects/red-willow/
("Technical Report on the Red Willow Project, Northern
Saskatchewan, Canada October 16, 2015")
Red Willow Project
The 100% owned Red Willow property is situated on the eastern edge of the Athabasca Basin in
Northern Saskatchewan, Canada and consists of 17 mineral claims having a total area of 40,116
hectares. The property is located close to 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.
Geophysical surveys conducted by Purepoint at Red Willow 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, PGeo, 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/109721