July 5 2006 – Purepoint Uranium Group Inc. (TSX-V:PTU) announced today that it has completed a $150,000 electromagnetic and magnetic survey on its 100 percent owned, 10,500 hectare Fire Eye property located in the Canadian Athabasca Basin, host of the world’s premier uranium deposits. The results of this survey are now being compiled and interpreted
Highlights:
- Purepoint’s Fire Eye property lies on trend with the historic Uranium City deposits;
- The Fire Eye property is located 70 kilometres north of the Cluff Lake uranium mine that produced in excess of 60 million pounds of uranium;
“With the commencement of exploration at Fire Eye, we’re very pleased to now have a full and active pipeline of seven, 100 percent owned projects,” said Chris Frostad, President and CEO, Purepoint Uranium Group Inc. “Our projects represent a variety of stages of exploration from initial surveys to advanced exploration drilling at our Turnor Lake project. Our plan is to continue to evaluate all new opportunities of similar caliber to grow our portfolio on an on-going basis.”
A 377 line kilometre MEGATEM II airborne electromagnetic and magnetic survey was flown at a line spacing of 400 metres on the property in order to confirm depths and areas of conductivity. Purepoint plans further, more detailed surveys once the data has been interpreted.
In addition to Purepoint’s work at Fire Eye, the company’s summer program also includes the ongoing drill program at Turnor Lake, sampling and analysis of the Long Lake Radioactive Boulder Train at Red Willow, airborne geophysical surveys at William River and the interpretation of surface geophysical surveys recently completed at the Red Willow and Umfreville projects.
Purepoint Uranium Group Inc. is focused on the precision exploration of its seven, 100 percent owned, highly prospective projects in the Canadian Athabasca Basin. Established in the Basin well before the resurgence in uranium, Purepoint is actively advancing some of the hottest drill targets in the world’s richest uranium region.
