Purepoint Announces Hook Lake Winter Program
TORONTO, ONTARIO -- (Marketwired) -- 10/08/13 -- Purepoint Uranium
Group Inc. (TSX VENTURE:PTU) today announced its winter exploration
program at the Hook Lake Project in Saskatchewan's Athabasca Basin.
The project is a joint venture with AREVA Resources Canada Inc. and
Cameco Corporation and is located immediately north of Patterson Lake
where high-grade uranium mineralization has been discovered by the
Fission Uranium Corp and Alpha Minerals Inc. Joint Venture (JV).
The 2014 diamond drill program will focus on the highly prospective
"Patterson Lake Corridor", the same (electromagnetic) conductive
trend that hosts the Patterson Lake South (PLS) uranium discovery.
"We are more than tripling the size of our drill program this year,"
said Chris Frostad, Purepoint's President and CEO. "Based on the
positive indicators for uranium deposition at the Hook Lake Project,
well-established electromagnetic (EM) conductors and the local
discovery of high grade uranium mineralization, the Joint Venture
partners are fully supportive of these heightened efforts."
-- The "Patterson Corridor" hosts over 35 kilometers of known airborne EM
conductors on the Hook Lake property. Over 40 ground EM targets remain
untested and ready for drilling;
-- The program consists of approximately 5,000 metres of diamond drilling
for a total budget of $2,500,000;
-- During last week's meeting, the Joint Venture partners agreed to proceed
with the planning and preparation of the 2014 program and budget at
-- 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
structural "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 unconformity.
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 9.08% U3O8 over 54.5
metres in drill hole PLS13-075 (Fission Uranium Corp. press release
of September 4, 2013) including 21.76% U3O8 over 21.5 metres. Within
the Hook Lake project, the Patterson Lake 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 property.
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.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Purepoint Uranium Group Inc.
President and CEO
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