TORONTO, ONTARIO–(Marketwired – March 17, 2016) – Purepoint Uranium Group Inc. (the “Company” or “Purepoint”) (TSX VENTURE:PTU) today released an updated drill hole section and plan map of the Spitfire Zone providing investors with a clearer picture of the mineralized setting as it is understood to this point. These new diagrams can be found at http://www.purepoint.ca/uraniumprojects/hooklake.php . Purepoint is the operator of the Hook Lake project on behalf of its Joint Venture partners Cameco Corp. and AREVA Resources Canada Inc.
The final two holes of this year’s program are currently in progress and results and updates to today’s material will be released over the coming weeks.
Hook Lake JV Project
The Hook Lake JV project is owned jointly by Cameco Corp. (39.5%), AREVA Resources Canada Inc. (39.5%) and Purepoint Uranium Group Inc. (21%) and consists of nine claims totaling 28,683 hectares situated in the southwestern Athabasca Basin. The Hook Lake JV is considered one of the highest quality uranium exploration projects in the Athabasca Basin due to its location along the prospective Patterson Lake trend and the relatively shallow depth to the unconformity.
Current exploration is targeting the Patterson Lake Corridor that hosts Fission’s Triple R Deposit (indicated mineral resource 79,610,000 lbs U3O8 at an average grade of 1.58% U3O8), NexGen Energy’s Arrow Deposit (inferred mineral resource 201,900,000 lbs U3O8 at an average grade of 2.63% U3O8) and the Spitfire Discovery by the Hook Lake JV.
Purepoint Uranium Group Inc. is focused on the precision exploration of its seven 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 Resources Canada Inc. 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.
Chris Frostad, President and CEO