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Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today reported that, following the completion of its recently announced airborne Mobile MagnetoTellurics (MobileMT) survey on the Tabbernor Project, the Company added approximately 8,865 hectares to the property.
"The initial data from our recently completed MobileMT survey not only confirmed the Central electromagnetic (EM) conductor but identified a significant EM anomaly continuing to the east beyond our claim line which we have now acquired," said Scott Frostad, Vice President Exploration at Purepoint. "The original three Tabbernor properties were staked based on the geological intersection of the north-south Tabbernor fault system and major deposits in the Athabasca Basin. Additional land was staked before last year's geophysical survey to capture all of the Central EM conductor that crosscut and possibly extended beyond the projects. The Central EM conductor on our Tabbernor project is now known to stretch for just over 50 kilometres."
Highlights
- Purepoint recently completed a 2,667 line-km airborne MobileMT geophysical survey focused on the 50-kilometre conductive corridor that cuts through the project.
- A detailed soil geochemical survey was also performed covering approximately 2.5 kilometres of the Central EM conductor within a prospective area.
- An additional 8,865 hectares have now been acquired through staking adjacent to the eastern boundaries of the project.
- Final geophysical products, assays and interpretations are pending.
- Drilling to the west on an adjacent property recently identified significant mineralization associated with the Central EM conductor (see CanAlaska Uranium Ltd. press release, September 27, 2023).
- Complete details of all Purepoint's exploration projects and next steps can be found on the company's website at https://purepoint.ca/investor/portfolio-handbook/.
Tabbernor Project
The 100% owned Tabbernor Project was staked along three major trends of the Tabbernor Fault System, a deep seated, 1,500-kilometre crustal shear system that runs north through the Athabasca Basin. The system not only hosts over 80 historic mines and gold occurrences but also crosscuts the Basin's mine trend aligning itself with 8 of the Basin's largest uranium discoveries.
The Tabbernor Project consists of 34 claims that total 79,463 hectares. The original block of three north-south claim groups (23 claims) that covered Tabbernor structures have now been joined by an additional 11 claims that cover a strong east-northeast trending corridor of conductive rocks.
Figure 1: 2023 EGL MobileMT System - Total Magnetic Intensity Preliminary Results
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Figure 2: 2023 EGL MobileMT System - Apparent Conductivity Preliminary Results
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Tabbernor Fault System
The Tabbernor Fault System (TFS) is a wide, >1,500 km geophysical, topographic, and geological structural zone that trends approximately northward along Saskatchewan's eastern boundary. Purepoint's research has shown that although none of the province's currently known uranium deposits have been linked to the north-south trending TFS, localized shear zones hosting uranium mineralization may have an associated north-south structural component.
Reactivation of the TFS may have coincided with the age of formation of large uranium deposits in the Athabasca Basin (Davies, 1998). Davies also concluded that structural similarities between the TFS and mineralized areas suggest that the fault system may have had a control on the location of mineralization. More specifically, he considered that several deposits, such as the Sue, Midwest, Dawn Lake and Rabbit Lake all demonstrate a north-south control and strong Tabbernor-like characteristics.
Purepoint has staked claims to the south of the Athabasca Basin based on interpreted north-south lineaments linking the Key Lake and Millennium deposits, the Midwest and West Bear deposits, the Jeb and Raven deposits, and the Collins Bay and Eagle Point deposits.
Reference:
Davies, J.R. (1998): The origin, structural style, and reactivation history of the Tabbernor fault zone, Saskatchewan, Canada; Master's thesis, McGill University, Montreal, Quebec, 105p.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of 9 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 seven, 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, 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 website at https://purepoint.ca, our X 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.
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