Good News!!!!!!Purepoint Uranium Group Inc: Hits 3.03% U3O8 at Osprey Zone on Red Willow
TORONTO, ONTARIO, Apr 22, 2008 (MARKET WIRE via COMTEX News Network) --
Purepoint Uranium Group Inc. (TSX VENTURE: PTU) is pleased to report the initial assay results from their Red Willow winter diamond drill program in the Athabasca Basin. Diamond drill hole RW-19 returned assay grades up to 3.03% U3O8 in a structure averaging 0.58% U3O8 over 1.0 metre at a shallow depth of less than 100 metres. RW-19 is located approximately 80 metres north from the discovery hole RW-07, which reported 0.20% e U3O8 over 5.8 metres in December 2007.
"We continue to be extremely encouraged with the early results from the Osprey Zone" said Scott Frostad, VP Exploration of Purepoint Uranium Group Inc. "We've only begun testing a small portion of this structurally complex area and are anxious to resume drilling here after spring break-up."
Purepoint awaits assay results from the second half of the Red Willow winter drill program, which included additional holes at the Osprey Zone (RW-21 to 24) as well as first pass holes at the Long Lake and Lyon Lake Zones (LL-08-01 to 07).
Highlights
- 0.58% U3O8 over 1.0 metre (from 93.3 to 94.3 m) including a 10 cm interval assaying 3.03% U3O8 in DDH RW-19. The radioactive intercept in RW-19 is located 80 metres north of the radioactive structure intersected by DDH RW-07.
- 0.27% U3O8 over 1.2 metres (from 65.0 to 66.2 m) in DDH RW-13 that represents a 20 metre step-out south of RW-07.
- Drilling is planned to continue at the Osprey Zone following spring break-up.
All drill holes were probed with a Mount Sopris 2PGA-1000 Poly-Gamma Probe and downhole surveyed using a Reflex EZ-SHOT tool. Drill hole collar locations were surveyed this month by Tri-City Surveys of Saskatoon. Drill core samples are analyzed at the Saskatchewan Research Laboratory in Saskatoon.
Overall 4,460 metres of diamond drilling was completed at Red Willow during this winter season. Purepoint was very pleased with the performance of Aggressive Drilling of Saskatoon and has contracted with that company to drill up to 30,000 metres. Permits have already been issued for the continued drilling scheduled for Red Willow this spring.
Key assay results are summarized below:
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Hole From (m) To (m) Width (m) % U3O8
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RW-08 72.3 72.7 0.4 0.12
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159.2 159.4 0.2 0.10
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RW-10 58.6 58.7 0.1 0.50
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62.5 64.2 1.7 0.09
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RW-13 65.0 66.2 1.2 0.27
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RW-19 93.3 94.3 1.0 0.58
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Includes
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94.1 94.2 0.1 3.03
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RW-20 26.0 28.7 2.7 0.05
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Includes
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26.8 27.1 0.3 0.15
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Red Willow
Purepoint's 100% owned Red Willow project adjoins AREVA Resource Canada Inc.'s claim group that contains the JEB, Sue, McClean and Caribou deposits to the west, as well as UEX's Hidden Bay project that surrounds the Rabbit Lake, Collins Bay and Eagle Point deposits to the south. Discovered in 1980, Cameco's Eagle Point mine lies approximately 15 kilometres south of Purepoint's Red Willow Project and remains the longest producing uranium mine in Canada, with total mined and proven resources of 133 million lbs. U3O8.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration of 37 defined target areas on nine100% owned projects in the Canadian Athabasca Basin and eight target areas hosted within two Basin projects joint ventured with Cameco Corporation and AREVA Resources Canada Inc. Established in the Basin well before the resurgence in uranium, Purepoint is actively advancing this large portfolio of multiple drill targets in the world's richest uranium region.
Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for 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.
Contacts: Purepoint Uranium Group Inc. Chris Frostad President and CEO (416) 603-8368 Website: www.purepoint.ca
SOURCE: Purepoint Uranium Group Inc.
https://www.purepoint.ca