Alpha Minerals Inc ESOFD

PTU NEWS on Patterson Lake

[DNASLIO]

Purepoint Completes Winter Exploration Program on Patterson Lake Corridor

TORONTO, ONTARIO--(Marketwired - April 4, 2013) - Purepoint Uranium Group Inc. (TSX VENTURE:PTU) has today announced that it has recently completed the winter exploration program at the Hook Lake Joint Venture Project in Saskatchewan's Athabasca Basin. The program focused on the Patterson Lake corridor which is the same conductive trend along which the Fission/Alpha joint venture has intersected high-grade uranium mineralization.

"This project, and the three distinct graphitic trends which run through it, has been of interest to Purepoint and its Joint Venture partners Cameco Corporation and AREVA Resources Canada Inc. for some time now," said Chris Frostad, President & CEO, Purepoint Uranium Group Inc. "Recent discoveries along the Patterson corridor have made it a priority target."

Results of the winter program and next steps will be released pending the return of assays and the review and approval of the Joint Venture partners.

[wintersun10]

PTU only gets to own something like 20% of the JV, so even if they find something it will be limited upside, good luck with that....

[bushman2355]

Purepoint can own up to 50% of the JV---------------not 20%-----get your story straight--------------

[wintersun10]

Purepoint holds a 21% interest in the Hook Lake Joint Venture with partners Cameco Corporation (39.5%) and AREVA Resources Canada Inc. (39.5%).

[bushman2355]

right now--------------but can earn up to 50%................

[iouranium]

100% correct...they have the option of being 50% partners. I am shocked how many people are oblivious to them, but it has allowed more time to increase my position. I was employed with one of the big boys in the basin for a while, and pursuing is highly regarded. They will have their day in the sun... But regardless, AMW is also a nice place to be ;-) >

[DNASLIO]

Thanks Sunshine .... its all about making a profit and I have played PTU in its previous two run-ups (and many others) for profit .... I'm also an early share holder of ESO/AMW ...... any additional good news from any stakeholders in the Patterson region is good for all boats in the harbour when the tide rises....   

[Raptor7]

Can't ignore the fact that PTU made no mention of scintillometer readings and that can't bode well.

[uFAN]

very good point. AMW has continuously released the scint. readings while mentionning that the next step are assays.

[thinkahead]

This post has been removed in accordance with Community Policy

[emptytown]

"Purepoint operates the Hook Lake project under the terms of an agreement with UEM Inc. that permits Purepoint to acquire up to a 50% interest in this large project. UEM Inc. is a company owned by AREVA Resources Canada Inc. and Cameco Corporation, the world’s two largest uranium exploration, mining and milling companies."   https://uraniuminvestingnews.com/550/purepoint-begins

[wintersun10]

come back when you find something