Purepoint Uranium Defines Eight Drill Targets at 100% Owned Carson Lake and Russell South Projects
Purepoint Uranium Defines Eight Drill Targets
at 100% Owned Carson Lake and Russell
South Projects
Toronto, Ontario--(Newsfile Corp. - September 14, 2022) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF) ("
Purepoint
" or the "
Company
") today released the interpreted results of its summer
airborne gravity/magnetic survey over their 100% owned Carson Lake and Russell South Uranium
Projects which lie on the eastern edge of the Athabasca Basin, Saskatchewan Canada.
"We are excited to add these new prospects to our pipeline of drill-ready projects and will be evaluating
them for inclusion in our 2023 drill programs," said Scott Frostad, VP Exploration at Purepoint. "These
targets are considered to be associated with major uranium finds along the eastern part of the Basin and
the completion of the airborne geophysical surveying has provided a clear path to commence drilling."
Highlights
Purepoint completed airborne Gravity Gradiometer, Gravity and Magnetic Surveys across both
Carson Lake and Russell South this summer.
The surveys covered 1,364 kilometres of flight at 100 metre spacings.
Final interpretation in conjunction with previous surveys have outlined three targets at Carson Lake
and five targets at Russell South.
For more information on Carson Lake, including location map, visit:
https://purepoint.ca/projects/carson-lake/
.
For more information on Russell South, including location map, visit:
https://purepoint.ca/projects/russell-south/
.
Carson Lake Project
The 100% owned, 4,972 hectare, Carson Lake Project adjoins ValOre Metals Hatchet Lake Project on
the north-eastern edge of the Athabasca Basin. The project covers a historic airborne geophysical
electromagnetic (EM) survey that outlined a strong northeast trending EM conductor approximately 10
kilometres in length. The survey covered two of the primary target areas.
To the north, the Killock target is presumed to be graphitic pelite that has been incorporated into the
north-south trending Killock Fault. Brittle structures such as the Killock fault intersecting ductile rock
types, such as graphitic pelite, can create favourable dilation zones and allow uranium-rich fluids to
become trapped.
The Lejour target is located where the north-south trending Lejour Fault crosscuts the main conductive
trend. Gravity results suggest that the conductive trend is associated with a lithologic contact.
Interpretation of the EM results suggests the single conductor west of the Lejour Fault is present as two
parallel conductors east of the fault. The lower priority Trunk target is a 1-kilometre long, sigmoidal
shaped EM conductor located within the southeast portion of the project.
Figure 1 Carson Lake Gravity Map
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/3218/137051_f64cecfbc403f9cd_002full.jpg
Russell South Project
The 100% owned Russell Lake Project is located near the south-central edge of the Athabasca Basin
covering an area of 13,320 hectares.
Five target areas have now been identified at the project. The four eastern targets are based on the
recent results from the airborne geophysical survey. The target zones are coincident airborne gravity low
and magnetic low responses, interpreted as favourable rock types and/or alteration zones, that are
proximal to north-northwest trending structures. The western Treleaven target area hosts historic
coincident geochemical anomalies possibly related to a dilational zone lying between the interpreted
north-south faults.
The project adjoins Cameco's Key Lake project on which the Key Lake Mine produced over 200 million
pounds of uranium at a grade averaging 2.3% U
3
O
8
between 1983 and 1997. In addition, the project
adjoins the Moore Lake Project owned by Skyharbour Resources Ltd. with their high-grade Maverick
Zone and Rio Tinto's Russell Lake Project to the west and south.
Figure 2: Russell South Gravity Map
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/3218/137051_f64cecfbc403f9cd_003full.jpg
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 exploration 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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