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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Purepoint Uranium Group Inc | TSXV:PTU | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.04 | 0.035 | 0.04 | 0.04 | 0.035 | 0.04 | 95,464 | 19:53:19 |
“We had a very productive season, with unusually favorable weather, allowing for the extension of the drill program to mid-April,” said Chris Frostad, President and CEO of Purepoint. “We initiated our work in November at the Spitfire discovery, which lies at the southern border of our claim group. Guided by 350-metre step-outs towards the northeast we quickly advanced out along the eight kilometre, 4,000 hectare Patterson target region that stretches northeast across the property. A complete review of the program results will be disseminated immediately following the upcoming JV technical committee meeting.”
The Company also conducted a ground gravity survey this season along the southern portion of the Derkson Corridor carried out by MWH Geo-Surveys of Vernon, BC.
Highlights:
About Hook Lake JV ProjectLocated along the Patterson Uranium District, the Hook Lake JV is a project owned jointly by Cameco Corporation (39.5%), Orano Canada Inc. (39.5%) (formerly known as Areva Canada Inc.) and Purepoint (21%). Operated by Purepoint since 2007, the project consists of nine claims totaling 28,598 hectares including the Spitfire high-grade discovery (53.3% U3O8 over 1.3 metres including a 10 metres interval of 10.3% U3O8).
The Patterson Uranium District is a 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.
The Derkson Corridor was the focus of historic exploration efforts to the south-east of Patterson, where SMDC encountered uranium mineralization near the unconformity averaging 0.24% U3O8 and 1.35% Ni over 2.5 metres in 1978. Drill holes along this trend encountered very encouraging clay basement alteration but were typically completed only 30 to 40 metres past the unconformity. Based on the geologic setting of the Patterson Corridor mineralization, it is considered that the historic shallow drilling along the Derkson Corridor did not properly test for basement-hosted uranium deposits.
About Purepoint Uranium Group Inc. Purepoint Uranium Group Inc. (TSXV:PTU) is focused on the precision exploration of its ten projects in the Canadian Athabasca Basin, the world’s richest uranium region. Purepoint proudly maintains project ventures in the Basin with two of the largest uranium producers in the world, Cameco Corporation and Orano Resources Canada Inc.
Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for the technical content of this release.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. For further information, follow us on Twitter @PurepointU3O8, visit our website at www.purepoint.ca or contact us at: Purepoint Uranium Group Inc. Chris Frostad, President and CEO (416) 603-8368
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