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
SYS-CON Events announced today that Systena America will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Systena Group has been in business for various software development and verification in Japan, US, ASEAN, and China by utilizing the knowledge we gained from all types of device development for various industries including smartphones (Android/iOS), wireless communication, security technology and IoT serv...
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which i...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
In his session at 20th Cloud Expo, Brad Winett, Senior Technologist for DDN Storage, will present several current, end-user environments that are using object storage at scale for cloud deployments including private cloud and cloud providers. Details on the top considerations of features and functions for selecting object storage will be included. Brad will also touch on recent developments in tiering technologies that deliver single solution and an end-user view of data across files and objects...