Purepoint Uranium Starts Hook Lake Drill Program
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Toronto, Ontario--(Newsfile Corp. - February 7, 2024) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") announced today drilling has commenced at the Hook Lake Project. The Hook Lake Project is a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%). The Project lies on the southwestern edge of Canada's Athabasca Basin and is adjacent to, and on trend with, high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit.
"We are well into our first hole and anticipate an exciting program as we follow up on last year's breakthrough at the Carter Corridor," said Scott Frostad, Vice President Exploration at Purepoint.
Highlights
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Approximately 2,500 metres of diamond drilling are planned in five holes testing the Carter Corridor.
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The program will follow up on hole CRT23-05, which returned an assay of 0.08% U3O8 (671 ppm U) over 0.4 metres (319.1 to 319.5m) from a basement-hosted 15-metre graphitic shear zone (318 to 333m downhole depth) before encountering five metres of intense clay alteration.
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In addition, the CRT23-05 mineralization was found to have a significant boron halo over 35 metres (305-340m) returning assays greater than 800 ppm B at the boundaries.
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The Carter corridor represents a long-lived, reactivated fault zone that lies between the Clearwater Domain granitic intrusive rocks to the west and runs parallel to the Patterson structural corridor to the immediate east.
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The 25-kilometre strike length of the Carter structural/conductive corridor is almost entirely located within the Hook Lake JV project.
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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/.
A current National Instrument 43-101 compliant technical report on the flagship Hook Lake Joint Venture project can be found at https://purepoint.ca/projects/hook-lake/ - "Technical Report on the Hook Lake Project, Northern Saskatchewan, Canada April 19, 2022".
Hook Lake - The Carter Corridor
The Hook Lake JV Project is owned jointly by Cameco Corp. (39.5%), Orano Canada Inc. (39.5%) and Purepoint Uranium Group Inc. (21%) as operator and consists of nine claims totaling 28,598 hectares situated in the southwestern Athabasca Basin. The Hook Lake JV Project is considered one of the highest quality uranium exploration projects in the Athabasca Basin due to its location along the prospective Patterson Lake trend and the relatively shallow depth to the unconformity.