Purepoint Uranium Outlines Upcoming Hook Lake Program
Purepoint Uranium Outlines Upcoming Hook
Lake Program
TORONTO
,
Oct. 25, 2018
/CNW/ - Purepoint Uranium Group Inc. (the "
Company
" or "
Purepoint
")
(TSXV: PTU) today announced its plans for the Hook Lake drill program scheduled to commence
this winter. The Hook Lake Project is a joint venture between Cameco Corporation (39.5%), Orano
Canada Inc. (39.5%) and Purepoint (21%) in the Patterson Uranium District,
Saskatchewan Canada
.
"In consultation with our JV partners, the 2019 Winter program has been crafted to follow-up on the
new mineralized shear zone interpreted earlier this year, extending along the Patterson Corridor."
said
Scott Frostad
, VP Exploration. "A detailed ground electromagnetic ("EM") survey has been
proposed to help define the graphitic shear between the Spitfire trend and the Dragon zone and
once again we will be deploying two drills to maximize the amount of work we intend to complete".
2019 Winter Program Highlights:
The proposed program will focus on the new mineralized graphitic shear that runs through the
Dragon Zone and is
on trend with the Spitfire discovery
. Drilling earlier this year at the
Dragon Zone concluded with the two
best holes to date
drilled outside of the Spitfire discovery
A 36 km EM survey will be conducted early in the program along the newly interpreted
mineralized graphitic shear
Drilling is expected to complete approximately 6,600 metres of diamond drilling within 12 holes
Final approval of the program and budget will be formalized at the Technical Committee meeting
later this year
Patterson Corridor (CNW Group/Purepoint Uranium Group Inc.)
About Hook Lake JV Project
Located along the Patterson Uranium District, the Hook Lake JV is a project owned jointly by
Cameco Corporation (39.5%), Orano Canada Inc. (39.5%) (formerly known as Areva Resources
Canada Inc.) and Purepoint (21%). Operated by Purepoint since 2007, the project consists of nine
claims totaling 28,598 hectares including the Spitfire high-grade discovery (53.3% U3O8 over 1.3
metres within a 10 metre interval of 10.3% U3O8).
The Patterson Uranium District is a structural corridor lying across the SW edge of
Saskatchewan's
Athabasca
Basin, interpreted to extend at least 50km, hosting Fission Uranium's Triple R deposit,
NexGen's Arrow deposit and Purepoint Uranium's Spitfire discovery.
The latest winter drilling program completed mid-April (
see news release from
May 14, 2018
)
identified a new mineralized graphitic shear running through the Dragon Zone that is on trend with the
Spitfire discovery. An updated geological interpretation of the entire Patterson Uranium District using
recent drill results and revisiting available airborne and ground geophysical results, has led to new
prospective targets along the Patterson Lake trend. The recent geological interpretation has also
been used to identify drill targets along the Derkson Corridor where SMDC encountered uranium
mineralization near the unconformity averaging 0.24% U3O8 and 1.35% Ni over 2.5 metres in 1978.
About Purepoint Uranium Group Inc.
Purepoint Uranium Group Inc. (TSXV: PTU) is focused on the precision exploration of its ten
advanced-stage exploration projects in the Canadian Athabasca Basin, the world's richest uranium
region. Purepoint proudly maintains project ventures in the Basin with two of the largest uranium
producers in the world, Cameco Corporation and Orano Resources Canada Inc. and its flagship
project is the Hook Lake JV.
Scott Frostad BSc
, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified
Person responsible for the technical content of this release.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE
Purepoint Uranium Group Inc.
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For further information:
follow us on Twitter @PurepointU3O8, visit our website at
www.purepoint.ca or contact us at: Purepoint Uranium Group Inc., Chris Frostad, President and
CEO, (416) 603-8368
CO: Purepoint Uranium Group Inc.
CNW 06:30e 25-OCT-18