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Purepoint Uranium Group Inc V.PTU

Alternate Symbol(s):  PTUUF

Purepoint Uranium Group Inc. is a resource company engaged in the acquisition, exploration and development of properties for the purpose of producing uranium. Its flagship project is the Hook Lake joint venture with Cameco and Orano, and the Smart Lake joint venture solely with Cameco. Together with its flagship projects, the Company operates nine advanced projects within the Athabasca Basin in Canada. Its projects include Hook Lake Project, Smart Lake Project, Red Willow Project, Turnor Lake Project, Henday Project, Carson Lake Project, Russell South Project, Tabbernor Block, and Tower Project. The Company also holds the VHMS project, which is optioned to and strategically positioned adjacent to and on trend with Foran Corporation's Mcllvena Bay Project. The Hook Lake Project is located approximately 75 km south-southwest of Orano Canada Inc. The Smart Lake property includes two claims with a total area of 9,860 hectares situated in the southwestern portion of the Athabasca Basin.


TSXV:PTU - Post by User

Bullboard Posts
Post by ssthvon Apr 21, 2016 8:05am
85 Views
Post# 24792697

Purepoint Uranium Hits 1.3 Metres of 53.5% U3O8 Within 10.0

Purepoint Uranium Hits 1.3 Metres of 53.5% U3O8 Within 10.0

TORONTO, ONTARIO--(Marketwired - Apr 21, 2016) - Purepoint Uranium Group Inc. (the "Company" or "Purepoint") (TSX VENTURE:PTU) today reported the strongest uranium mineralization drilled to date within the Spitfire Zone intersected by hole HK16-53 returning an assay result of 53.3% U3O8 over 1.3 metres within a 10.0 metre interval that assayed 10.3% U3O8. Purepoint is the operator of the Hook Lake project on behalf of its Joint Venture partners Cameco Corp. and AREVA Resources Canada Inc.

The HK16-53 mineralized intercept is situated only 220 metres below surface and is approximately 10 metres east of the HK16-43 mineralization.

"The structure hosting the shallow, high-grade uranium at Spitfire remains open in most directions," said Scott Frostad, V.P. Exploration at Purepoint. "This winter's program further defined the structural controls of the Spitfire mineralization allowing us to anticipate further success as we continue to test the mineralized structure along strike and to depth."

 
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