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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 stockman6767on Aug 24, 2016 5:03pm
190 Views
Post# 25173658

Spitfire and Harpoon

Spitfire and HarpoonIf you look at the map of the drilling around harpoon and spitfire, you have PTU's Spitfire about 150M NE of the boundary with NXE, Then about 150M SW of the boundary you have NXE's Harpoon with off-the-scale radiation, then aprox another 300M to the SW, you have 3 more NXE drill holes with low or no radiation found. (Holes HP-16-05, HP-16-06, and HP-16-07).

This leads me to believe that Harpoon is the south-west end of the uranium deposit which ends near the 3 drill holes I mentioned above with low or no radiation. the continuation of Harpoon is to the Northeast where Spitfire was found and continues on (hopefully) to an extent to be determined by the next PTU drilling program in the neighborhood of Spitfire in the next few months. 

I think PTU is in the drivers seat and might be bought out by NXE - unless CCO and/or AREVA decide to buyout NXE for the entire project themselves.

Bullboard Posts