Purepoint Uranium Initiates Program at 100% Owned Russell South Project
Purepoint Uranium Initiates Program at 100%
Owned Russell South Project
Toronto, Ontario--(Newsfile Corp. - June 9, 2022) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB:
PTUUF)
("Purepoint"
or the
"Company"
) today announced the commencement of an airborne
gravity/magnetic survey over their Russell South Uranium Project which lies on the south-central edge of
the Athabasca Basin, Saskatchewan Canada.
"The Russell Lake project is within a favourable geologic area since it's close to the southern edge of the
Athabasca Basin that has relatively shallow drill targets and nearby uranium deposition including the
historic Key Lake Mine (22 km WSW) and the Baseload / 92 Energy discoveries (28 km NE)" said Scott
Frostad, VP Exploration at Purepoint. "The regional airborne gravity results suggest our claims cover
important geologic contacts and our current gravity survey results will allow us to define specific targets
for follow-up ground geophysics and drilling."
Highlights
Purepoint will be conducting an airborne Gravity Gradiometer, Gravity and Magnetic Survey across
the entire project.
The survey will cover 974 kilometres of flight at 100 metre spacings.
Results and interpretations should be complete by the end of June.
Figure 1: Russell South Location
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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.
The project adjoins the Moore Lake Project, owned by Skyharbour
Resources Ltd., with their high-grade Maverick Zone that returned 6.0% U3O8 over 5.9 metres from hole
ML-199 (Skyharbour PR, Feb. 27, 2017). Also located near the southern edge of the Athabasca Basin is
the Key Lake Mine, 22 km WSW, that produced over 200 million pounds of uranium at a grade
averaging 2.3% U3O8 between 1983 and 1997.
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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