Purepoint Uranium Group Inc. announced that its fall drill program at its 100% owned Henday Lake Project in the northeastern margin of Saskatchewan's Athabasca Basin has been extended to December 2021."We were fortunate enough to secure our drill and crew for another 4 or 5 weeks allowing us to continue our inaugural drill testing at Henday," said Scott Frostad, VP Exploration at Purepoint. "The first few holes were ...

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") announced that its fall drill program at its 100% owned Henday Lake Project in the northeastern margin of Saskatchewan's Athabasca Basin has been extended to December 2021.

"We were fortunate enough to secure our drill and crew for another 4 or 5 weeks allowing us to continue our inaugural drill testing at Henday," said Scott Frostad, VP Exploration at Purepoint. "The first few holes were difficult due to our targets being deeper than anticipated and the interception of numerous unconsolidated sand seams have resulted in a hole being restarted. None the less, we are excited that we now have enough time and budget to test more targets than originally planned."

Highlights:

  • Purepoint now expects to complete five initial diamond drill holes at an average depth of approximately 450 to 500 metres each.
  • The targeted electromagnetic conductors lie within an east-west trending magnetic low, considered to represent pelitic basement rocks, a typical host rock for economic uranium mineralization.
  • The Huskie Uranium deposit, discovered by Denison in 2017, is due west of the Henday Lake project and is associated with an east-west trending magnetic low.
  • Work to date on the project is outlined in detail in an NI 43-101 compliant technical report which can be found at https://purepoint.ca/projects/henday-block/.

Henday Lake
The 100% owned Henday Lake property is 1,029 hectares in size and consists of 2 claims. The Henday property is located nine kilometres northwest of Orano's Midwest Lake deposit (41 million lbs. U3O8) and ten kilometres west of Rio Tinto's Roughrider Deposit (57 million lbs. U3O8).

Only one drill hole is known to have been previously drilled on the property. Hole HLH8-71 was drilled by Cogema Resources (now Orano Resources Canada Inc.) in 1998 and encountered a steeply dipping, strongly graphitic fault gouge at the bottom of the hole. The claims rest within a magnetic low believed to represent pelitic basement rocks, a typical host rock for economic uranium mineralization. The depth to basement is locally less than 350 metres.

Denison's recently discovered Huskie deposit is located approximately 10 km due east along strike from Henday Lake. A NI43-101 technical report dated October, 2018 estimates the inferred resource of the Husky deposit to be 5.7 million Ibs U3O8.

The Henday Lake property falls within the Mudjatik-Wollaston Tectonic Zone, a northeast trending structural zone along the eastern margin of the Basin. The Mudjatik-Wollaston Tectonic Zone is the NE trending high strain tectonic zone marking the boundary between the Archean gneisses and granitoids of the Mudjatik Domain to the west and Archean gneisses, metasediments, and pegmatite intrusions of the Wollaston domain to the east.

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: cfrostad@purepoint.ca

For additional information please visit our new website at https://purepoint.ca, our Twitter 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102975

News Provided by Newsfile via QuoteMedia

Purepoint Uranium TSXV:PTU Uranium Investing
CanAlaska Stakes Three New Uranium Properties in Athabasca Basin

CanAlaska Stakes Three New Uranium Properties in Athabasca Basin

74,283 Hectares with multiple targets near existing uranium deposits

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce that compilation work by the Company's staff has identified uranium potential in three areas of the western Athabasca Basin and a total of 74,283 hectares have been staked (Figure 1).

Keep reading... Show less
Top Uranium Mines in the World

Top Uranium Mines in the World

In 2020, world uranium mine production came to 56,287 tonnes of U3O8. Kazakhstan was the top-producing country by far at 19,477 tonnes, followed by Australia and Namibia.

Together, those three nations accounted for over two-thirds of uranium mining, with Kazakhstan taking a 41 percent share. Additionally, a wide variety of uranium-mining companies contribute to the world's production.

But where in the world are the top uranium mines? While many of them are located in Kazakhstan, Canada and Australia, that's not the case for all of the largest uranium mines.

Keep reading... Show less
Elevate Secures $11.5M to Accelerate its Growth Strategy

Elevate Secures $11.5M to Accelerate its Growth Strategy

Elevate Uranium Ltd (ASX: EL8) ("Elevate" or "the Company") is pleased to announce that it has received binding commitments for a single tranche placement to raise $11.5 million (before costs) at $0.45 per share, utilising its placement capacity under ASX Listing Rule 7.1 ("Placement"). The Placement introduced a number of new, high quality institutional, sophisticated and professional investors, whilst also being well supported by existing significant shareholders of the Company.

Keep reading... Show less

Laramide Resources Announces New Director

TICKER SYMBOLS: TSX:LAM; ASX:LAM; OTCQX:LMRXF

Laramide Resources Ltd. (" Laramide " or the " Company ") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce the appointment of Jacqueline Allison CFA, PhD, PGeo, FCIM, as a new Non-Executive Director effective immediately.

Keep reading... Show less
enCore Energy Advances Development at the South Texas Rosita Uranium Processing Plant; enCore Energy and Azarga Uranium Provide Plan of Arrangement Update

enCore Energy Advances Development at the South Texas Rosita Uranium Processing Plant; enCore Energy and Azarga Uranium Provide Plan of Arrangement Update

EnCore Energy Corp. (TSXV:EU)(OTCQB:ENCUF) ("enCore") and Azarga Uranium Corp. (TSX:AZZ)(OTCQB:AZZUF)(FRA:P8AA) ("Azarga Uranium") are pleased to provide an update on enCore's modernization activities at the Rosita Central Processing Plant ("Rosita") in South Texas expected to be complete in Q22022. enCore has also continued to advance its Texas asset acquisition strategy focused on established, previously permitted, projects with known mineralization to augment enCore's existing pipeline of projects in proximity to Rosita. Confirmation and development drilling has commenced at the newly acquired Rosita Extension, much of which lies within the existing permit area. This development will provide mineral interpretation and resources for wellfield design in keeping with planned commencement of production activities in 2023

Paul Goranson, enCore's Chief Executive Officer said, "The progress of enCore's efforts in South Texas has been exceptional. Using our own in-house technical staff, we are executing our strategy targeting completion of the Rosita upgrades by the end of the second quarter 2022 and wellfield commissioning in the first half of 2023 with projects on schedule and on budget. As we advance our plans in South Texas and accelerate activities on the key Dewey Burdock and Gas Hills projects from the shareholder approved acquisition of Azarga Uranium, enCore is well on its way to being America's premier ISR uranium producer."

Keep reading... Show less
Purepoint Uranium Outlines Upcoming Exploration Plans

Purepoint Uranium Outlines Upcoming Exploration Plans

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today released its exploration schedule for the coming year, focusing on its large portfolio of 100% owned uranium projects strategically located across Canada's Athabasca Basin; host to the world's highest grade uranium resources.

"We intend to take full advantage of the renewed financial support afforded to us by the ongoing recovery of uranium prices," said Chris Frostad, Purepoint's President and CEO. "We are now in a position to follow up on the significant discoveries already established across our portfolio of 100% owned projects."

Keep reading... Show less

Top News

Related News