Purepoint Uranium Provides Update on Exploration Activities
Toronto, October 25, 2023 - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today provided an update on its current exploration activities and plans for the coming winter season. As the price of uranium continues to rise, Purepoint is placing considerable emphasis on ensuring that it will be able to maximize the 2024 exploration drilling across its considerable portfolio of advanced projects in Canada's Athabasca Basin.
"Our focus this fall has been to complete all work necessary to bring our entire portfolio to a drill ready state," said Chris Frostad, President and CEO of Purepoint. "The company has clearly defined dozens of targets and it is our objective to drill as many as possible over the coming 12 to 18 months."
Highlights
- Tabbernor Project - Purepoint is currently finalizing a 2,667 line-km airborne MobileMT (Mobile MagnetoTellurics) geophysical survey focused on the 50-kilometre graphitic corridor that cuts through the project. Also, a detailed soil geochemical survey covering approximately 2.5 kilometres of the electromagnetic (EM) conductor within a prospective area was completed earlier this month. Drilling on an adjacent property recently identified significant mineralization associated with the Tabbernor graphitic structure (see CanAlaska Uranium Ltd.'s press release, September 27, 2023).
- Field Reconnaissance - The Company's geological teams recently completed field mapping of drill target areas at the Red Willow Project, the Carson Project and the Tabbernor Project to determine appropriate access to proposed drill sites.
- Hook Lake & Smart Lake Projects - In early November, Purepoint and its Joint Venture partners, Cameco Corporation and Orano Canada Inc., will meet to review proposals and budgets for our January drilling and geophysical programs. At Hook Lake, the Company plans to follow up on this past winter's successful drill program at the Carter Corridor, where it encountered significant boron associated with uranium mineralization, a key pathfinder element for uranium deposits.
- Drill Program Scheduling - Hook Lake is most easily accessed in the winter and drilling at Red Willow and Carson will be scheduled for late Spring as numerous targets will only be accessible by helicopter that limits work to longer days of the year. The Turnor Lake, Tabbernor and Russell South drill programs are planned for the late summer/early fall timeframe.
- Complete details of all Purepoint's exploration projects and next steps can be found on the company's website at https://purepoint.ca/investor/portfolio-handbook/.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of 9 advanced projects in Canada's Athabasca Basin. In addition to its flagship joint venture project at Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at Smart Lake, Purepoint also holds eight, 100% owned projects with proven uranium rich targets. With an aggressive exploration program underway on multiple projects, Purepoint is emerging as the preeminent uranium explorer in the world's richest uranium district.
Scott Frostad BSc, MASc, PGeo, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185089