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
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone in...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...