Purepoint Uranium Commences Initial Drill Program Along Groomes Lake Conductive Corridor, Smart Lake JV Project

Purepoint Uranium Commences Initial Drill Program Along Groomes Lake Conductive Corridor, Smart Lake JV Project

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") is pleased to announce the commencement of a first-pass drill program along the high-priority Groomes Lake Conductive Corridor at the Smart Lake Joint Venture (JV) project in Saskatchewan's Athabasca Basin. The program will include four drill holes, totalling approximately 1,400 metres, to test the conductive belt of rocks refined by the 2024 ground electromagnetic (EM) survey.

The Smart Lake Project is a joint venture between Cameco Corporation (73%) and Purepoint (27%) and is located approximately 60 km south of the former Cluff Lake uranium mine and 18 km west-northwest of Purepoint's Hook Lake JV project.

"We are excited to launch this next phase of exploration at Smart Lake," said Chris Frostad, President & CEO of Purepoint Uranium. "While Smart Lake has seen previous drilling, this is the first time we are targeting our high-priority Groomes Lake conductors that were refined by the recent ground EM survey. Given the project's geological similarities to other major uranium deposits in the Athabasca Basin, we believe this program has the potential to advance Smart Lake's exploration story significantly."

Highlights

  • Targeting recently refined high priority Groomes Lake Conductive Corridor (Figure 1)
  • 4 diamond drill holes planned, totaling 1,400 metres
  • Strong exploration partnership with Cameco enhances project development
  • Building on historical drilling success that confirmed basement-hosted uranium mineralization

Advancing a High-Potential Uranium Target

The Groomes Lake Conductive Corridor will be targeted by the 2025 drill program and builds on Purepoint's late-2024 stepwise-moving loop and fixed loop time domain electromagnetic (EM) survey conducted by Diaz Geophysical. The survey outlined three discrete, parallel EM conductors for over 2.2 kilometers (Figure 1). The three EM conductors are approximately 100 metres apart, lie within a magnetic low response and are conformable with interpreted geologic contacts. Airborne geophysics show the conductors continue westward onto NexGen's neighbouring SW1 Project for an additional 2 kilometres.

The historic vertical hole SAM-13 failed to explain the conductor source and is now assumed to have stopped approximately 45 metres short of the intended target. Inversion of the Groomes Lake conductivity results suggest the conductors continue to depth and present an excellent opportunity for a basement hosted 'Arrow'-style discovery.

Previous drilling at Smart Lake intersected anomalous uranium within faulted and altered basement rocks, with drill hole SMT08-05 returning 147 ppm U over 15.4 metres (153.0 to 168.4 metres) from a hematite breccia and faulted sheared zone. The current drill program will test conductors in a structurally complex setting that has demonstrated the potential to host significant uranium mineralization.

Strategic Positioning in the Athabasca Basin

Purepoint continues to advance a highly prospective project portfolio in the Athabasca Basin, leveraging its strong partnerships with Cameco and other industry leaders. With uranium prices strengthening and the global supply-demand gap widening, the Company remains committed to unlocking new uranium discoveries through systematic, high-quality exploration.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3218/244614_23e24f3cd4fb7958_002.jpg

Figure 1: Groomes Lake Conductive Corridor - 2024 Stepwise-Moving Loop (SWML) and Fixed Loop (FL) Time Domain Electromagnetic survey results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3218/244614_23e24f3cd4fb7958_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3218/244614_23e24f3cd4fb7958_003.jpg

Figure 2: Smart Lake Project Location

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3218/244614_23e24f3cd4fb7958_003full.jpg

About Smart Lake

The Smart Lake Project is located approximately 60 km south of the historic Cluff Lake mine and 18 km west-northwest of the Hook Lake JV Project (Figure 2). The property spans 9,860 hectares within the Athabasca Basin, an area renowned for hosting the world's highest-grade uranium deposits.

Initial exploration at Smart Lake established the presence of graphitic shear zones, hydrothermal alteration, and anomalous radioactivity. The favourable geological indicators, combined with its strategic location and extensive geophysical data, position Smart Lake for uranium exploration success.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada. The most prospective projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd.

Additionally, the Company holds a promising VMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Mining Corporation's McIlvenna Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts.

Scott Frostad BSc, MASc, 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: 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 the 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/244614

News Provided by Newsfile via QuoteMedia

PTU:CA
Purepoint Uranium

Purepoint Uranium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Purepoint Uranium (TSXV:PTU, OTCQB:PTUUF)

Purepoint Uranium


Keep reading...Show less

Backed by Industry Leaders. Built for Large-Scale Exploration

Purepoint Completes Initial Drill Program Along Groomes Lake Conductive Corridor at Smart Lake JV

Purepoint Completes Initial Drill Program Along Groomes Lake Conductive Corridor at Smart Lake JV

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today reported the completion of its initial drill program at the Smart Lake Joint Venture in Saskatchewan's Athabasca Basin. The first-pass program, which included 1,264 metres of diamond drilling across three holes, was conducted to test newly identified electromagnetic (EM) conductors along the Groomes Lake Conductive Corridor. The drill program provided a critical step in defining high-priority uranium exploration targets associated with the Groomes Lake conductive features.

The Smart Lake Project is a joint venture between Cameco Corporation (73%) and Purepoint (27%) and is located approximately 60 km south of the former Cluff Lake uranium mine and 18 km west-northwest of Purepoint's Hook Lake JV project.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Announces Flow-Through Private Placement

Purepoint Uranium Announces Flow-Through Private Placement

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") announced a non-brokered private placement (the "Offering") of up to 4,347,826 flow-through units (the "Flow-Through Units") at a price of $0.23 per unit for aggregate gross proceeds up to $1,000,000. Each Flow-Through Unit consists of one common share of the Company to be issued on a "flow through" basis pursuant to the Income Tax Act (Canada) (each a "Flow-Through Share") and one-half (12) of one common share purchase warrant. Each whole warrant entitles its holder to purchase one common share of the Company (each a "Warrant Share") at an exercise price of $0.30 per share for a period of 24 months from the date of issuance. Red Cloud Securities Inc. is acting as a finder in connection with the offering.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Mobilizing for Summer Uranium Drill Program at Dorado Project - Eastern Athabasca Basin

Purepoint Mobilizing for Summer Uranium Drill Program at Dorado Project - Eastern Athabasca Basin

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") is pleased to announce that mobilization is underway for the upcoming summer uranium drill program at its Dorado Project, part of the Purepoint-IsoEnergy Joint Venture in Saskatchewan's eastern Athabasca Basin. Drilling is scheduled to commence on or about May 26, 2025.

The Dorado Project covers over 150 kilometres of discreet electromagnetic (EM) conductors that lie within the Dorado Graphitic Domain-a structurally controlled package of conductive, graphite-rich rocks (Figure 1). The Dorado Domain encompasses the northeastern extension of the Larocque Trend, a highly prospective structural corridor that hosts multiple high-grade uranium deposits and occurrences, including IsoEnergy's Hurricane Deposit-recognized as the world's highest-grade published indicated uranium resource, with 48.6 million pounds at 34.5% U₃O₈ (https://www.isoenergy.ca/featured-project/). At Dorado, these graphitic rocks bifurcate and wrap around a granitic dome that is considered an important component in the original plumbing system that once directed the flow of uranium-bearing hydrothermal fluids.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Provides Q2 Corporate Update on Exploration Activities

Purepoint Uranium Provides Q2 Corporate Update on Exploration Activities

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") provided its Q2 corporate update on exploration activities across its portfolio of uranium projects in Canada's Athabasca Basin. This exploration update highlights the continued advancement of multiple high-priority targets as Purepoint executes on its 2025 exploration strategy alongside industry-leading joint venture partners.

Smart Lake Joint Venture (Cameco/Purepoint)

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Reports Results from Tabbernor Project Geophysical Survey

Purepoint Uranium Reports Results from Tabbernor Project Geophysical Survey

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today announced initial results of its recently completed airborne FALCON gravity survey across the 81,817-hectare Tabbernor Project, located near the southeastern edge of Saskatchewan's Athabasca Basin.

"The results of our FALCON gravity survey have provided a critical next step in refining priority targets at Tabbernor." said Scott Frostad, Vice President Exploration at Purepoint. "We have now outlined three key areas showing favourable geology, complex structural features and potential hydrothermal alteration - strong indicators of uranium mineralization. Our next phase of work will focus on further refining these targets in preparation for drilling."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Skyharbour's Partner Company Mustang Energy Commences Field Program at 914W Uranium Project Located in the Athabasca Basin, Saskatchewan

Skyharbour's Partner Company Mustang Energy Commences Field Program at 914W Uranium Project Located in the Athabasca Basin, Saskatchewan

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company") is pleased to announce that partner company Mustang Energy Corp. ("Mustang") has commenced its 2025 field exploration program at the 914W Uranium Project (the "Project"), located in Athabasca Basin region. Mustang Energy may acquire a 75% interest in the Project by issuing common shares having an aggregate value of CAD $480,000, making aggregate cash payments of $275,000 to Skyharbour, and incurring an aggregate of $800,000 in exploration expenditures on the property over a three-year period.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Blue Sky Uranium Schedules Start of Drill Program for Ivana Uranium-Vanadium Project

Blue Sky Uranium Schedules Start of Drill Program for Ivana Uranium-Vanadium Project

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

Blue Sky Uranium Corp. (TSX-V: BSK) (FSE: MAL2) (OTC: BKUCF), ("Blue Sky" or the "Company") is pleased to announce that it has secured drill contractors and scheduled a start date of June 1 st 2025 for the previously announced drill programs to advance the Ivana Uranium-Vanadium Project (the " Project ").  As reported on May 14, 2025 Blue Sky's joint-venture operating company Ivana Minerales S.A., (" JVCO ", a partnership with Abatare Spain, S.L.U.) has planned a two-phase drilling campaign. The first phase will focus on infill drilling at the Ivana deposit, while the subsequent second phase will test satellite targets.  The entire campaign is expected to last approximately five months.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Baselode Reports Shallow Uranium Results from Summer 2024 Drill Program

Baselode Reports Shallow Uranium Results from Summer 2024 Drill Program

  • Six drill holes expand shallow uranium mineralization footprint in Pod 1 (i.e., within 50 metres from surface), eleven drill holes confirmed uranium starting within 100 metres from surface in three Pods
  • Shallow uranium mineralization updip of Pod 7 remains largely untested and requires further follow-up drilling

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to release uranium ("U3O8") assay results from all 28 drill holes of the 2024 drill program on the ACKIO prospect area ("ACKIO") in the Athabasca Basin ("Basin") area of northern Saskatchewan (Figure 1).

"We're especially encouraged with 6 drill holes intersecting uranium within 50 m from surface and 11 drill holes within 100 m from surface. These shallow mineralization results continue to demonstrate ACKIO's unique advantage in the Basin area with easily accessible, near-surface uranium. Last year's summer drill program successfully defined more shallow uranium mineralization to the north and south of our shallowest uranium zone, Pod 1. Uranium at the overburden-bedrock contact still remains open to the south and north.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Skyharbour and JV Partner Orano to Commence Extensive Summer 2025 Drilling Program at Preston Uranium Project

Skyharbour and JV Partner Orano to Commence Extensive Summer 2025 Drilling Program at Preston Uranium Project

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that its joint-venture partner, Orano Canada Inc. ("Orano"), will commence a large-scale diamond drilling program at the 49,635-hectare Preston Uranium Project ("Preston" or the "Property") located in the western Athabasca Basin, Saskatchewan, Canada. The drilling program will consist of approximately 6,000 to 7,000 metres of drilling during the summer of 2025. Orano is the majority owner and operator at the project with Skyharbour owning a minority interest of approximately 25.6%.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Purepoint Uranium

Purepoint Uranium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×