Welcome!

News Feed Item

Purepoint Uranium Group Inc. Reports Results for Ten-hole Drill Program at Red Willow

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."

Highlights:


--  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.

Geneva Area

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.

Mustang Area

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).

About Purepoint

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.

Contacts:
Purepoint Uranium Group Inc.
Chris Frostad, President and CEO
(416) 603-8368
www.purepoint.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
The competitive landscape of the global cloud computing market in the healthcare industry is crowded due to the presence of a large number of players. The large number of participants has led to the fragmented nature of the market. Some of the major players operating in the global cloud computing market in the healthcare industry are Cisco Systems Inc., Carestream Health Inc., Carecloud Corp., AGFA Healthcare, IBM Corp., Cleardata Networks, Merge Healthcare Inc., Microsoft Corp., Intel Corp., an...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Hostway Services, Inc. and WSM International have partnered to deliver trouble free migration services for any organization that wishes to bring their IT infrastructure to Hostway's Azure managed cloud services. WSM is the leader in providing turn-key IT migration services since 2003 and is now the preferred provider to any Hostway customer that is seeking to move its computer infrastructure to the Hostway Azure-based cloud.
Ovum, a leading technology analyst firm, has published an in-depth report, Ovum Decision Matrix: Selecting a DevOps Release Management Solution, 2016–17. The report focuses on the automation aspects of DevOps, Release Management and compares solutions from the leading vendors.
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.