Purepoint Uranium Group Inc. (TSXV:PTU) reported that it has expanded their Red Willow North property by staking an additional 2,057 hectares in the Hatchet Lake area of Canada’s Athabasca Basin.
As quoted in the press release:
The Red Willow North property is contiguous with Purepoint’s Red Willow Project being advanced under a joint venture (JV) agreement with Rio Tinto and, to the west, is contiguous with the Denison Mines/Virginia Energy JV Hatchet Lake project.
Exploration will target basement-hosted, structurally controlled uranium deposits similar to the Eagle Point deposit situated 30 kilometers south of the Red Willow North Project.
•Very little drilling has been conducted on the Red Willow North property with most being drilled to relatively shallow depths.
•The newly interpreted Golden Eye Shear Zone extends for over 6 kilometers and joins the historic FDL showing (up to 1.43% U3O8) and the AJ showing (up to 0.46% U3O8).
•Recent airborne electromagnetic (EM) and magnetic survey results indicate that the Red Willow Osprey conductor, on which drilling by Purepoint has returned intercepts of up to 0.20% eU3O8 over 5.8 metres, continues on the Red Willow North property for over 5 kilometers
•The historic Turkey conductor, which has returned intercepts of up to 0.16% U3O8 over 1.0 meters, is now interpreted to continue untested for over 5 kilometers on the Red Willow North property