Toronto, Ontario – August 10, 2017 – Purepoint Uranium Group Inc. (the “Company” or “Purepoint”) (TSX:PTU.V) today reported the results of a ground gravity survey conducted at its 100% owned Henday Lake project in the eastern area of Canada’s Athabasca Basin in Northern Saskatchewan.
“The Henday project contains over 8 kilometers of untested EM conductor length, which regionally, is on trend with some of the largest uranium deposits in the Athabasca basin” said Scott Frostad, VP Exploration at Purepoint. “Only one drill hole has been completed on the property to date and it confirmed the presence of sheared graphitic pelites. Our priority drill targets are located where the EM conductors are proximal to a north-south cross-cutting fault, a structure that was interpreted from airborne magnetics and is now supported by the recent ground gravity results.
Highlights:
- Ground gravity results from the Henday Lake project show a correlation with the primary EM conductor targets and may be responding to different basement rock types;
- The gravity transition from high density in the north to a lower density in the south may represent a crustal structure which could be favorable for focusing uranium-bearing fluids;
- The gravity transition coincides with a favourable magnetic low response that is considered to reflect pelitic rocks;
- The Henday Lake property is regionally along-trend with some of the largest uranium deposits in the Athabasca basin; and
- The 2017 ground gravity survey results for the McArthur East project are available on the Purepoint website.
The Henday Lake ground gravity survey results show that a gravity transition response correlates with the property’s primary exploration target area. The primary target area was previously defined by a magnetic low coincident with an electromagnetic (EM) conductive zone. It is now thought that the gravity transition, may represent a crustal structure favourable for focusing uranium bearing fluids. The gravity transition lies within a broad magnetic low and conductive area which is thought to reflect graphite-bearing pelitic basement rocks and/or hydrothermal alteration.
Henday Lake Project
The 100% owned Henday Lake property is 1,029 hectares in size and consists of 2 claims. This property is located nine kilometres northwest of Areva’s Midwest Lake deposit (41 million lbs. U3O8) and ten kilometers west of Rio Tinto’s Roughrider Deposit (57 million lbs. U3O8).
Only one drill hole is known to have been drilled on Purepoint’s Henday property. Hole HLH8-71 was drilled by Cogema Resources (now AREVA Resources Canada Inc.) in 1998 and encountered a steeply dipping, strongly graphitic fault gouge at the bottom of the hole. The claims rest within a magnetic low believed to represent pelitic basement rocks, a typical host rock for economic uranium mineralization. The depth to basement is locally less than 350 metres.
The Henday Lake property falls within the Mudjatik-Wollaston Tectonic Zone, a northeast trending structural zone along the eastern margin of the Basin. The Mudjatik-Wollaston Tectonic Zone is the NE trending high strain tectonic zone marking the boundary between the Archean gneisses and granitoids of the Mudjatik Domain to the west and Archean gneisses, metasediments, and pegmatite intrusions of the Wollaston domain to the east. All of the operating uranium mines in Canada are located along this trend.
About Purepoint
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.
For further information please contact:
Purepoint Uranium Group Inc.
Chris Frostad, President and CEO
(416) 603-8368
www.purepoint.ca
