Purepoint Uranium Prepares for Follow-Up Drill Program at Red Willow Project
Purepoint Uranium Prepares for Follow-Up
Drill Program at Red Willow Project
Toronto, Ontario--(Newsfile Corp. - September 20, 2022) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF)
("Purepoint"
or the
"Company"
) announced today the commencement of
mobilization efforts at the 100%-owned Red Willow project within the eastern uranium mine district of the
Athabasca Basin, Saskatchewan Canada. This past winter's drilling intersected uranium mineralization
along 1.2 kilometres of strike length associated with the northern area of the Osprey Zone
electromagnetic (EM) conductor.
"We are now following up on assays that confirm the presence of uranium mineralization over a distance
of nearly a mile, suggesting that a broad mineralizing event occurred throughout this region," said Chris
Frostad, President and CEO at Purepoint. "Last winter's drill program consistently returned anomalous
uranium highlighted by RW22-06 that intersected 0.47% U3O8 over 0.9 metres and our final winter hole
RW22-15 which encountered alteration and structure favourable to uranium deposition."
Highlights
Drilling is expected to begin late September.
Purepoint plans for 3,500 metres of drilling across 10 holes.
The drill program will be utilizing helicopter support and will initially focus on determining the extent
of the uranium mineralization along the Osprey conductor.
A winter follow-up drill program for the Osprey Zone and other primary target areas that are best
drilled during winter months.
Figure 1:
Location Map of Red Willow's Osprey Zone 2022 Drill Program
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3218/137737_e28662516481e806_002full.jpg
Table 1: Final Assay Results for Red Willow's Osprey Zone 2022 Drill Program
Hole Number
From
(m)
To (m)
Width
(m)
U (ppm)
U3O8
(wt%)
OSP22-04
70.4
71.2
0.8
95
0.01
78.5
79.4
0.9
53
0.01
152.3
152.7
0.4
77
0.01
OSP22-05
54.2
54.9
0.7
85
0.01
OSP22-06
Including
75.7
79.6
3.6
55
0.01
86.8
93.0
6.2
684
0.08
89.9
90.8
0.9
3,990
0.47
OSP22-07
121.0
121.3
0.3
73
0.01
122.5
123.5
1.0
75
0.01
OSP22-08
141.9
142.2
0.3
79
0.01
OSP22-09
<50
OSP22-10
72.8
74.3
1.5
75
0.01
78.9
81.0
2.1
86
0.01
105.0
105.3
0.3
76
0.01
OSP22-11
140.9
141.5
0.6
92
0.01
OSP22-12
148.6
155.0
6.4
159
0.02
OSP22-13
80.0
80.5
0.5
2,260
0.27
OSP22-14
<50
OSP22-15
<50
Samples returning >50 ppm U; Background considered < 10 ppm U
Geochemical Assaying
Core samples are submitted to the Saskatchewan Research Council (SRC) Geoanalytical Laboratories
in Saskatoon. The SRC facility is ISO/IEC 17025:2005 accredited by the Standards Council of Canada
(scope of accreditation #537). The samples are analyzed using partial and total digestion inductively
coupled plasma methods, for boron by Na2O2 fusion, and for uranium by fluorimetry. All drill intercepts
are core width and true thickness is yet to be determined.
Red Willow Project
The 100% owned Red Willow property is situated on the northern edge of the eastern Athabasca Basin
mine corridor in Northern Saskatchewan, Canada.
The property is located in close proximity 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.
Red Willow consists of 17 mineral claims having a total area of 40,116 hectares. Geophysical surveys
conducted by Purepoint 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
.
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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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