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Purepoint Uranium Group Inc PTUUF


Primary Symbol: V.PTU

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

Post by buyholdsell002on Feb 15, 2021 11:06pm
271 Views
Post# 32570691

The sum of the parts is currently worth more than the whole

The sum of the parts is currently worth more than the wholeSo much potential with this company...its time to unlock some of it. This article is a great summary.... getting zero credit for any of these properties...not even taking into account spitfire or the carbonatite. Should be trading/valued much higher than it's peers. https://www.northernminer.com/news/uranium-snapshot-uranium-companies-to-watch/1003813310/. Purepoint Uranium Group (TSXV: PTU) is an Athabasca basin-focused uranium explorer that holds 10 active projects within the basin. The Hook Lake project, located within the Patterson uranium district, is jointly owned by Purepoint (21%), Cameco (at 39.5%) and Orano Canada (a private French company, with a 39.5% stake). The 286 sq. km project features the high-grade Spitfire discovery and has been operated by Purepoint since 2007. Three prospective structural corridors have been found on the property. This year, exploration at Hook Lake will involve drilling targets that were identified last year through airborne gravity surveying, as well as additional electromagnetic surveys. Purepoint also holds a 27% interest in the Smart Lake project, as part of a joint venture with Cameco. The 98.6 sq. km property sits in the southern part of the Athabasca basin and hosts the Athabasca unconformity at depths of less than 350 metres. Magnetic patterns at Smart Lake appear to show an extension of the patterns underlying the Shea Creek deposit (UEX [TSX: UEX] 49.1%; 50.9%, French-owned AREVA) located 55 km north. In addition, Purepoint wholly owns the Red Willow project, located on the northern edge of the basin. The 401.2 sq. km property is within 10 km of Camecos Eagle Point deposit. Geophysical surveys on the property have outlined over 70 km of conductors that indicate favourable rock characteristics, with 21 exploration targets identified. The 100%-owned Turnor Lake property covers 97 sq. km and lies in the eastern part of the Athabasca basin. The graphitic conductors at this project are associated with uranium showings on adjoining properties. Turnor Lake is close to Rio Tintos Roughrider deposit and Denison Mines Midwest and McClean Lake projects. Purepoints 122 sq. km Umfreville project overlies prospective crosscutting faults, with a number of drill targets identified at the site. In addition, the companys Henday Lake property is near the Roughrider and Midwest Lake deposits. The juniors undrilled McArthur East project, which adjoins Camecos McArthur River project, features a prospective conductor identified through airborne geophysics. An assessment of the historic work at the companys Rene Lake, Shearwater and Langley Lake projects is underway, with initial exploration plans for the properties to follow. Purepoint Uranium has a $12.3-million market capitalization.
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