Toronto, Ontario--(Newsfile Corp. - April 29, 2024) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company"), an established and active explorer in Canada's Athabasca Basin, today announced the initiation of a comprehensive drill program at their 100%-owned Turnor Lake Project, specifically targeting the prolific La Rocque Structural Corridor.
The La Rocque Structural Corridor, known for hosting the notable high-grade Hurricane Uranium Deposit (IsoEnergy Ltd.) and the La Rocque Lake Zone (Cameco Corp.), spans a promising 7-kilometre strike length within the northern portion of the Turnor Lake project. Scott Frostad, VP of Exploration, highlighted, "Our focused approach this season aims to thoroughly explore priority targets along this key geological feature with the goal of uncovering substantial uranium mineralization akin to neighboring high-grade finds."
Project Highlights:
- Drilling Scope: Approximately 5,000 metres of helicopter-supported diamond drilling over 12 to 15 strategically placed holes.
- Strategic Timing: Mobilization of drill and crew is underway, with drilling activities scheduled to commence later this week.
- Detailed Project Insights: Further information on the Turnor Lake project can be accessed in the Company's 2023 Portfolio Handbook, available at https://purepoint.ca/investor/portfolio-handbook/.
Figure 1 - Turnor Lake Project Map
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About the Turnor Lake Project:
Occupying 9,705 hectares on the eastern side of the Athabasca Basin, the Turnor Lake Project is uniquely positioned across two major structural/conductive corridors, the LaRocque and Klaproth, that are both known for hosting significant uranium mineralization.
Noteworthy past findings along the LaRocque Corridor include Cameco's drill hole KER-17, which intersected 0.09% U3O8 over 0.5 metres at the unconformity within sooty pyrite near the project's western claim line-a geologic setting analogous to the nearby Hurricane uranium mineralization. Additionally, Denison Mines' drill hole RL13-16, located 10 km west of Turnor Lake along the La Rocque Corridor, encountered 2.3 metres at 0.45% U3O8, further exemplifying the corridor's rich uranium potential. The drill-ready LaRocque and Klaproth corridors which underscore the project's significant exploration prospects have been corroborated by extensive airborne and ground geophysical surveys that have also delineated other notable EM conductors across the property.
As the project progresses, Purepoint remains committed to adhering to the highest standards of exploration excellence and sustainable practices, aiming to deliver significant value to our shareholders and contribute positively to the communities in which we operate.
About Purepoint Uranium Group Inc.:
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of nine advanced projects within the renowned Athabasca Basin in Canada. Key projects include the flagship Hook Lake joint venture with industry leaders Cameco and Orano, and the Smart Lake joint venture solely with Cameco.
Beyond these partnerships, Purepoint proudly manages seven wholly-owned projects, each featuring established uranium targets. Additionally, the Company holds a promising VHMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Corporation's McIlvena Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts.
Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.
For more information, please contact:
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca
For additional information please visit our new website at https://purepoint.ca, our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.
Disclosure regarding forward-looking statements
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.
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