Purepoint Uranium Starts Hook Lake Drill Program
Purepoint Uranium Starts Hook Lake Drill
Program
Toronto, Ontario--(Newsfile Corp. - February 7, 2024) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF)
("Purepoint"
or the
"Company"
) announced today drilling has commenced at the
Hook Lake Project. The Hook Lake Project is a joint venture between Cameco Corporation (39.5%),
Orano Canada Inc. (39.5%), and Purepoint (21%). The Project lies on the southwestern edge of
Canada's Athabasca Basin and is adjacent to, and on trend with, high-grade uranium discoveries
including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit.
"We are well into our first hole and anticipate an exciting program as we follow up on last year's
breakthrough at the Carter Corridor," said Scott Frostad, Vice President Exploration at Purepoint.
Highlights
Approximately 2,500 metres of diamond drilling are planned in five holes testing the Carter
Corridor.
The program will follow up on hole CRT23-05, which returned an assay of 0.08% U3O8 (671 ppm
U) over 0.4 metres (319.1 to 319.5m) from a basement-hosted 15-metre graphitic shear zone (318
to 333m downhole depth) before encountering five metres of intense clay alteration.
In addition, the CRT23-05 mineralization was found to have a significant boron halo over 35 metres
(305-340m) returning assays greater than 800 ppm B at the boundaries.
The Carter corridor represents a long-lived, reactivated fault zone that lies between the Clearwater
Domain granitic intrusive rocks 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.
Complete details of all Purepoint's exploration projects and next steps can be found on the
company's website at
https://purepoint.ca/investor/portfolio-handbook/
.
A current National Instrument 43-101 compliant technical report on the flagship Hook Lake Joint Venture
project can be found at
https://purepoint.ca/projects/hook-lake/
- "Technical Report on the Hook Lake
Project, Northern Saskatchewan, Canada April 19, 2022".
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.
Last year, Purepoint drilled 2,710 metres in six holes to test the Carter Corridor. As this was our first
pass drilling, the main conductive trend was tested using 800 metre step-outs towards the north to
identify the most prospective geology.
Drill hole CRT23-05 intersected a sheared/faulted chlorite-altered, graphitic diorite gneiss over 15
metres before encountering five metres of intense clay alteration. The graphitic shear returned an assay
of 0.08% U3O8 (671 ppm U) over 0.4 metres (319.1 to 319.5m) that was associated with a distinct
boron halo over 35 metres (305 to 340m).
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline
of nine 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 seven, 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, P.Geo., 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 website at
https://purepoint.ca
,
our X 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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