Purepoint Uranium Group Inc. reported that since October, 2017 it has acquired through staking an additional 52,479 hectares of mineral claims in the Athabasca Basin.
Purepoint Uranium Group Inc. (TSXV:PTU) reported that since October, 2017 it has acquired through staking an additional 52,479 hectares of mineral claims in the Athabasca Basin, Saskatchewan Canada representing a substantial increase in the Company’s 100 percent owned projects.
Highlights are as follows:
- Through staking, Purepoint has increased it’s 100% owned portfolio of Athabasca uranium projects from five projects and 57,222 hectares to eight projects totaling 109,701 hectares;
- The Company’s drill-ready Umfreville and McArthur East projects have been enlarged from 6,369 hectares to a total of 14,203 hectares allowing room to properly follow up on initial drill discoveries;
- Purepoint’s new Rene Lake (5,437 hectares) and Shearwater (26,244 hectares) projects lie due north and due south respectively of the Company’s Smart Lake project along the Clearwater Domain;
Scott Frostad, vice president exploration, commented:
Much of our new ground lies on the SW edge of the Athabasca Basin, proximal to our Smart Lake Project. Our initial drilling at Smart Lake identified a radioactive shear that was associated with intense alteration. We have now re-interpreted the Smart Lake drill results in light of our knowledge gained from the neighbouring Patterson Uranium District. Based on the similarity in structural and lithologic settings, we see the SW Athabasca Basin region to be highly prospective and look forward to exploring our new ground.