|By Marketwired .||
|July 18, 2014 08:00 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/18/14 -- Purepoint Uranium Group Inc. (TSX VENTURE:PTU) today provided results from the recently completed ten-hole, 2,734-metre drill program at the Red Willow JV project in Saskatchewan's Athabasca Basin. Red Willow is a large, 256 square kilometer property located 10 kilometers northeast of Rio Tinto's Roughrider deposit and covers the Mudjatik-Wollaston Transition Zone, a structural zone that hosts the high-grade Cigar Lake and McArthur River uranium deposits as well as Roughrider. The Red Willow program was managed and operated by Rio Tinto Exploration Canada Inc. ("Rio Tinto") under the terms of an option agreement.
The Geneva target area returned the most encouraging drill results from the four target areas tested during the 2014 exploration program. Hole 14RDW-008 at Geneva intersected 30 metres of strongly clay/chlorite altered graphitic pelitic gneiss that returned an assay of 0.68% U3O8 and 0.54% Cu over 0.3 metres, and an additional assay of 3.5% Co, 1.0% Ni and 5.7% As over 0.85 metres. Drilling at the Mustang Target confirmed a near surface 50 metre thick zone of weak to very strong clay alteration associated with hematite considered to be hydrothermal. Below the alteration zone, an assay of 948 ppm U over 0.3 metres was returned from a sub-horizontal fracture within pelitic gneiss. The Osprey Northeast and Lasby Lake Target areas were tested by three drill holes that did not encounter significant alteration or radioactivity.
"The Geneva area remains a high priority target now that it has been confirmed as hosting elevated radioactivity, pathfinder metal enrichment and strong hydrothermal basement alteration" said Scott Frostad, Vice President, Exploration, Purepoint Uranium Group Inc. "The best exploration potential at Geneva is considered to be the two parallel EM conductors that lie 300 and 550 metres west of the current drilling and are associated with gravity depressions and low apparent resistivity "chimneys" (LARCs) in the sandstone we hope are responses to hydrothermal alteration."
-- Geneva drill hole 14RDW-008 intersected 30 metres of strongly clay/chlorite altered graphitic pelitic gneiss that hosted a 6.4 metre zone anomalous in pathfinder metals (Co, As, Ni, Cu) and a uranium mineralized zone that returned 0.68% U3O8 over 0.3 metres; -- The three-hole drill fence at Mustang confirmed a 50 metre wide zone of clay alteration and intersected a mineralized fracture that assayed 948 ppm U over 0.3 metres; -- The Geneva area continues to be a priority target that is proximal to a large scale radon-in-water anomaly with an unknown source; -- The Mustang target is a 5 km long EM conductor now confirmed to host strong clay alteration and anomalous uranium and is recommended to be covered by soil geochemical, radon and/or ground geophysical surveys prior to additional drilling.
Drilling at Geneva targeted the strong EM conductor that follows a distinct fold structure as highlighted by aeromagnetic results. In 1984, Eldorado Resources intersected a graphitic fault along this EM conductor with hole RAD-27 that returned 0.22% U3O8 over 1.0 metres. The current drill program completed a three hole fence to follow-up the historical alteration and mineralization. The initial drill hole, 14RDW-008, intersected 30 m of strongly clay/chlorite altered graphitic pelitic gneiss 10 metres below the unconformity. Within this alteration halo, a radioactive zone returned 0.05% U3O8 over 6.4 metres and was anomalous in pathfinder metals (Co, Ni, Cu, As). Best assays included 0.68% U3O8 and 0.54% Cu over 0.3 metres and a separate interval of 3.5% Co, 1.0% Ni and 5.7% As over 0.85 metres. The second hole (14RDW-009) tested the mineralization down-dip and intersected graphitic pelitic gneiss 90 metres below the unconformity that returned 177 ppm U over 4.0 metres and assays of 116 ppm Zn, 72 ppm V, 298 ppm Cu, and 72 ppm Ni over one metre widths. The third hole stepped 40 metres in front of 14RDW-008 to test for mineralization in the sandstone but did not encounter significant mineralization or alteration. The fourth hole at Geneva was a 270 metre step-out south on the strong graphitic EM conductor but it failed to explain the conductor and no significant mineralization or alteration was encountered.
Drilling at Mustang targeted an area where drilling by Gulf Minerals (1979) intersected what was described as 'plastic, deformable clay'. A three-hole drill fence confirmed the presence of weak to very strong clay alteration within a flat-lying, 30 to 50 meter wide zone in the basement rocks that was associated with hematite assumed to be hydrothermal. Athabasca sandstone was encountered by only one of these three holes occurring less than 3 metres in thickness. Sub-horizontal uranophane fracture fill was intersected by hole 14RDW-005 below the clay/hematite alteration zone and returned 948 ppm U over 0.3 metres. The trace graphite encountered by the Mustang drill holes is considered insufficient to explain the EM conductor at this location.
Osprey Northeast Area
A two-hole drill fence was drilled approximately 250 metres east of the main Osprey conductor where previous drilling intercepted 0.20% eU3O8 over 5.8 metres. The drill target was an interpreted E-W graphitic structure coincident with a multi-point, multi-element soil anomaly. The basement rocks in these holes were primarily quartz-rich gneisses and several minor structures were encountered with one having elevated radioactivity (141 ppm U total over 1.0 metre). Drilling did not explain the EM conductor and no significant mineralization or alteration was encountered.
Lasby Lake Area
A single hole tested the strong EM conductor below Lasby Lake and was collared 50 meters along strike of where historical holes, RAD-85-33 & 34, reported possible hydrothermal alteration. The hole intersected 35 metres of moderate kaolinite-muscovite alteration below the unconformity and 1.0 meter of massive pyrite and graphite that explained the EM conductor. No significant mineralization was encountered by this hole.
Rio Tinto Earn-In Agreement
Purepoint was notified this week that Rio Tinto has decided not to complete the exercise of their first earn-in. As a result, 100% ownership of the Red Willow project has been returned to Purepoint as well as all data, studies, models and interpretations developed by Rio Tinto over the past 4 years. "The Company has benefited greatly from Rio Tinto's involvement to date and our team looks forward to returning to this project on a 100% owned basis" said Chris Frostad, President & CEO of Purepoint. "The project has demonstrated numerous early successes and we will be aggressively advancing the many well developed targets that remain untested on the property".
Red Willow Project
The Red Willow property covers 25,612 hectares on the eastern edge of the Athabasca Basin. The Athabasca sandstone is shallow with depth to the unconformity varying from zero to 80 metres. Six major uranium deposits, Cigar Lake, McArthur River, Millennium, Midwest, Roughrider and JEB, are located along the NE trending Mudjatik/Wollaston Transition Zone that extends through the Red Willow Project.
The property adjoins the AREVA and Denison claim group that contains the JEB, Sue, McClean and Caribou uranium deposits to the west, and to the south adjoins UEX's Hidden Bay property that surrounds Cameco's Rabbit Lake, Collins Bay and Eagle Point uranium deposits. The Red Willow project is host to over 70 kilometers of EM conductors that were historically tested by widely-spaced drill holes completed at shallow depths since they predated an understanding of basement hosted uranium deposits (e.g. Fission's recently discovered PLS deposit, Millennium and Eagle Point).
Purepoint Uranium Group Inc. is focused on the precision exploration of its twelve projects in the Canadian Athabasca Basin. Purepoint proudly maintains project ventures in the Basin with two of the largest uranium producers in the world, Cameco Corporation and AREVA. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Purepoint Uranium Group Inc.
Chris Frostad, President and CEO
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Nov. 25, 2015 12:15 PM EST
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving t...
Nov. 25, 2015 12:00 PM EST Reads: 358
There are over 120 breakout sessions in all, with Keynotes, General Sessions, and Power Panels adding to three days of incredibly rich presentations and content. Join @ThingsExpo conference chair Roger Strukhoff (@IoT2040), June 7-9, 2016 in New York City, for three days of intense 'Internet of Things' discussion and focus, including Big Data's indespensable role in IoT, Smart Grids and Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) IoT's use in Vertical Markets.
Nov. 25, 2015 12:00 PM EST Reads: 512
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
Nov. 25, 2015 10:26 AM EST
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Nov. 25, 2015 10:00 AM EST Reads: 425
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 25, 2015 09:45 AM EST Reads: 105
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Nov. 25, 2015 09:30 AM EST Reads: 266
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 25, 2015 09:00 AM EST Reads: 264
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Nov. 25, 2015 08:15 AM EST Reads: 344
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
Nov. 25, 2015 07:45 AM EST Reads: 340
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Nov. 25, 2015 07:30 AM EST Reads: 246
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Nov. 25, 2015 07:15 AM EST Reads: 158
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company Logz.io. In the past, he was co-founder of social-trading platform Currensee, which...
Nov. 25, 2015 06:45 AM EST
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Nov. 25, 2015 05:45 AM EST Reads: 376
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
Nov. 25, 2015 05:45 AM EST Reads: 287