Purepoint Uranium Initiates ZTEM Survey at Hook Lake Joint Venture
Purepoint Uranium Initiates ZTEM Survey at
Hook Lake Joint Venture
Toronto, Ontario--(Newsfile Corp. - July 12, 2022) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF) ("
Purepoint
" or the "
Company
") today announced the commencement of a deep
sensing Z-Axis Tipper Electromagnetic (ZTEM) airborne survey over the northern portion of the Carter
Corridor at the Hook Lake Joint Venture; a joint venture between Cameco Corporation (39.5%), Orano
Canada Inc. (39.5%), and Purepoint (21%).
The Hook Lake Project lies on the southwestern edge of
Saskatchewan's Athabasca Basin in the Patterson Uranium District, Saskatchewan, Canada and is
adjacent to and on trend with high-grade uranium discoveries including Fission Uranium's Triple R
Deposit and NexGen's Arrow Deposit.
ZTEM technology, exclusive to Geotech Ltd., is used to measure the variations in naturally occurring
electromagnetic (EM) fields produced by thunderstorms around the globe. The variations in the EM fields
help detect the resistivity contrast in deeply buried rock structures that may have controlled uranium
deposition.
The Carter corridor is a long lived, reactivated fault zone that lies between the Clearwater Domain
granitic intrusives to the west and runs parallel to the Patterson structural corridor to the immediate east.
The 25-kilometre strike length of the Carter structural/conductive corridor is almost entirely located within
the Hook Lake JV project.
Highlights
Purepoint will be conducting an airborne ZTEM Survey covering the northern portion of the Carter
and Patterson corridors.
The survey will cover 653 kilometres of flight at 300 metre spacings.
Results and interpretations should be complete later this summer.
Figure 1: Hook Lake Map
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/3218/130538_944397aa349d49e4_002full.jpg
Hook Lake - The Carter Corridor
The Hook Lake JV Project is owned jointly by Cameco Corp. (39.5%), Orano Canada Inc. (39.5%) and
Purepoint Uranium Group Inc. (21%) as operator and consists of nine claims totaling 28,598 hectares
situated in the southwestern Athabasca Basin. The Hook Lake JV Project is considered one of the
highest quality uranium exploration projects in the Athabasca Basin due to its location along the
prospective Patterson Lake trend and the relatively shallow depth to the unconformity.
The Patterson Lake area was recently flown by an airborne gravity survey (Boulanger, Kiss and
Tschirhart, 2019) that was funded by the Targeted Geoscience Initiative (TGI), a collaborative federal
geoscience program. The gravity results show the southern portion of the Carter corridor as being
associated with the same gravity high response as the Triple R and Arrow uranium deposits. The gravity
low response west of the Carter corridor reflects the geologically younger, Clearwater Domain intrusions.
The TGI (Potter et al., 2020) consider the Clearwater Domain intrusions as being high-heat-producers
that warmed and circulated hydrothermal fluids over the structural corridors. Prolonged interaction of
oxidized uranium-bearing fluids with basement rocks via reactivated faults is thought to have formed the
high-grade uranium deposits.
Purepoint completed three drill holes in the southern portion of the Carter corridor (HK08-01 to 03)
during 2008. HK08-01 intersected very strong sericite and silica hydrothermal alteration and returned a
maximum of 17 ppm U within basement rock but missed the conductor source. HK08-02 returned locally
elevated radioactivity from 20 to 30 metres below the unconformity while HK08-03 intersected 60 metres
of intense hydrothermal hematite alteration below the unconformity.
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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