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Purepoint Releases Geophysical Survey Results from Turnor Lake

Toronto, Ontario – October 2, 2012 – Purepoint Uranium Group Inc. (TSX:PTU.V) today released the results of this summer’s geophysical survey at its 100% owned Turnor Lake Project in Saskatchewan’s Athabasca Basin. The induced polarization survey has moved the exploration of this property further north, covering the high-priority Anvil South uranium target area.

The induced polarization (IP) survey was conducted over the Anvil South grid with the purpose of outlining possible low apparent resistivity chimneys (LARCs) in the sandstone.  LARCs are considered to be excellent drill targets when found within a favourable geologic setting as they represent potential zones of hydrothermal alteration.

“The IP survey data is of high quality, free of noise and aligns well with historic drilling data, unconformity depth, and overburden thickness,” said Roger Watson, Purepoint’s Chief Geophysicist. “Numerous geophysical LARCs have now been interpreted; many of them correlating with an untested, well-defined electromagnetic conductor.”

Highlights:

  • Low apparent resistivity chimneys (LARCs), possible zones of hydrothermal alteration, have been outlined within the Anvil South zone and correspond with untested EM conductors;
  • The resistivity survey successfully identified a LARC that corresponds with altered sandstone intersected by historic hole OD-1 that also returned 468 ppm U over 3.4 m;
  • The geophysical results collected by Purepoint at Anvil South, which includes resistivity, gravity, and highly detailed airborne electromagnetics and magnetics, have been compiled with all available historic data identifying five new high priority drill targets;
  • A strong geochemical anomaly of uranium, nickel and cobalt was outlined at the Klaproth South target in 2011 and verified by re-sampling in 2012

Anvil South

The Anvil South grid covers over four kilometers of electromagnetic (EM) conductors that were outlined by a VTEM airborne survey in 2006. The EM conductors show significant offsets interpreted to be caused by faulting. Purepoint conducted a gravity survey over the Anvil South grid in 2008 but has not yet drill tested geophysical targets in this area.

During August 2012, over thirty line-kilometers of IP surveying was completed at Anvil South by Peter E. Walcott & Associates Ltd. of Vancouver, BC. The data was inverted by Purepoint using IP inversion software developed by the University of British Columbia. The IP survey was successful in that well defined resistivity “chimneys” (LARCs) were identified in the sandstone. The Anvil South LARCs have now been plotted in relation to resistivity, gravity, EM conductors and magnetics and five priority drill targets have been identified.

The historic drill hole OD-1, drilled at Anvil South by the Saskatchewan Mining Development Corp. in 1985, intersected 3.4 m of 468 ppm U within a highly altered graphitic pelite immediately below the unconformity.  Anomalous concentrations of arsenic, nickel and cobalt were associated with the alteration encountered in the OD-1 drill hole.

Klaproth South

A limited geochemical sampling survey that employed the CAMIRO Athabasca Survey sampling procedure (see Purepoint’s Press Release of June 15, 2011) was completed over portions of the Turnor Lake project last year.  A follow-up survey was conducted this summer to provide detailed data within geochemically anomalous areas.

At Klaproth South, the geochemical survey returned anomalous uranium, nickel and cobalt. The anomaly is in the vicinity of Purepoint drill hole TL-01, which intersected intense clay alteration over 2 metres above the unconformity, and TL-09 that intersected 179 ppm U over 1.5 meters within strongly chloritized basement rock. The geochemical anomaly was resampled during 2012 and the original results were verified. The Klaproth South geochemical anomaly is considered a high-priority drill target.

Turnor Lake

The Turnor Lake Project is 100% owned by Purepoint. This 9,705 hectare property covers graphitic electromagnetic (EM) conductors that are directly associated with high grade uranium showings on adjoining properties, namely Cameco’s La Rocque occurrence (up to 33.9% U3O8 over 5.5 m) to the west and Areva’s HLH-50 intercept (5.2% U3O8 over 0.38 m) located to the south.  The project lies in close proximity to several uranium deposits, including Roughrider, Midwest Lake, McClean Lake and Eagle Point, and has a shallow depth to the unconformity of less than 200 metres in most areas.

A series of detailed geophysical surveys have been conducted on the property since November 2006 and numerous drill targets, including EM conductors and structurally complex areas having evidence of intersecting structures, remain untested. Drill targets have now been prioritized with the completion of the 3D Targeting Workflow Process by Mira Geoscience.

About Purepoint

Purepoint Uranium Group Inc. is focused on the precision exploration of its eleven projects in the Canadian Athabasca Basin.  Purepoint proudly maintains project ventures in the Basin with the three largest uranium producers in the world, Cameco Corporation, AREVA and Rio Tinto. 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.

For further information please contact:
Purepoint Uranium Group Inc.

Chris Frostad, President and CEO
(416) 603-8368
www.purepoint.ca

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