Purepoint Completes Winter Exploration Program on Patterson Lake Corridor
TORONTO, ONTARIO -- (Marketwired) -- 04/04/13 -- Purepoint Uranium
Group Inc. (TSX VENTURE:PTU) has today announced that it has recently
completed the winter exploration program at the Hook Lake Joint
Venture Project in Saskatchewan's Athabasca Basin. The program
focused on the Patterson Lake corridor which is the same conductive
trend along which the Fission/Alpha joint venture has intersected
high-grade uranium mineralization.
"This project, and the three distinct graphitic trends which run
through it, has been of interest to Purepoint and its Joint Venture
partners Cameco Corporation and AREVA Resources Canada Inc. for some
time now," said Chris Frostad, President & CEO, Purepoint Uranium
Group Inc. "Recent discoveries along the Patterson corridor have made
it a priority target."
Results of the winter program and next steps will be released pending
the return of assays and the review and approval of the Joint Venture
-- A ground electromagnetic (EM) survey was conducted on Patterson Lake to
further characterize a known airborne EM conductor for future drilling;
-- An initial 925 metre drill program was carried out in the south central
region of the project along the Patterson corridor; and
-- On November 27, 2012 the company filed a National Instruments 43-101
compliant technical report on its Hook Lake uranium project. The report
can be found on Sedar.com or on Purepoint's website (www.purepoint.ca).
Hook Lake Project
The Hook Lake Project consists of nine claims totaling 28,683
hectares and is situated in the southwestern Athabasca Basin only 5
kilometres northeast of the new high-grade uranium discovery by the
Fission/Alpha joint venture. The depth to the Athabasca unconformity
is very shallow, ranging from zero to 350 metres. Three prospective
"corridors" have been defined on the property, each corridor being
comprised of multiple EM conductors that have been confirmed to be
the results of graphitic metasediments that intersect the Athabasca
The Patterson Lake corridor is the same conductive trend along which
the Fission/Alpha joint venture has intersected high-grade uranium
mineralization, most notably the intercept of 4.92% U3O8 over 34
metres in drill hole PLS13-038 (Fission Energy press release of March
25, 2013). Within the Hook Lake project, the Patterson Corridor
displays geophysical evidence of a complex structural history and,
where drill tested, has shown favourable signs of alteration and
structural disruption. In 2011, three new claims totaling 2,632
hectares were added to the Hook Lake project due north of where high
grade uranium boulders were discovered by Fission/Alpha on their PLS
Purepoint Uranium Group Inc. is focused on the precision exploration
of its eleven projects in the Canadian Athabasca Basin. Purepoint
proudly maintains project ventures in the Basin with three of the
largest uranium producers in the world, Cameco Corporation, AREVA and
Rio Tinto. Established in the Athabasca Basin well before the initial
resurgence in uranium earlier last decade, Purepoint is actively
advancing a 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Purepoint Uranium Group Inc.
President and CEO
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