The Hook Lake project is a joint venture between Cameco Corporation which owns 39.5 percent, Orano Canada which holds 39.5 percent and Purepoint comprising the additional 21 percent in the Patterson Uranium District, of Saskatchewan.
Purepoint Uranium Group (TSXV:PTU) has 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 (TSX:CCO,NYSE:CCJ) which owns 39.5 percent, Orano Canada Inc which holds 39.5 percent and Purepoint comprising the additional 21 percent in the Patterson uranium district, of Saskatchewan.
As quoted from the press release:
“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 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
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 percent), Orano Canada Inc. (39.5 percent) (formerly known as Areva Resources Canada Inc.) and Purepoint (21 percent). Operated by Purepoint since 2007, the project consists of nine claims totaling 28,598 hectares including the Spitfire high-grade discovery (53.3 percent U3O8 over 1.3 metres within a 10 metre interval of 10.3 percent 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.