June 28 2006 – Purepoint Uranium Group Inc. (TSX-V:PTU) announced today that it has recently completed a $400,000 electromagnetic and magnetic survey on its 100 percent owned, 110,000 hectare William River property located in the Canadian Athabasca Basin, host of the world’s premier uranium deposits. The results of this large survey are now being compiled and interpreted.
- Purepoint’s William River property abuts UEX/Areva’s Joint Venture Projects in the western Athabasca Basin;
- The William River property is located less than 10 kilometres east of the Carswell Structure, which hosts the Cluff Lake uranium mine that produced in excess of 60 million pounds of uranium;
- The property hosts two domes that extend close to surface and a significant fault which provides an ideal structural setting for uranium deposition at a depth interpreted to be as shallow as 300 metres (only 1/3 of the average depths being drilled in the western Basin in recent years).
“With UEX/Areva’s newly established Kianna Uranium Deposit at Shea Creek, the western region of the Athabasca Basin is now a proven host for high-grade ore bodies,” said Scott Frostad, Vice President Exploration, Purepoint Uranium Group Inc. “The complex structural setting at William River presents some highly prospective exploration opportunities within close proximity to known high-grade deposits.”
A 1,700 line kilometre MEGATEM II airborne electromagnetic and magnetic survey was flown at a line spacing of 1,000 metres on the property in order to confirm depths and specific areas of interest. The company plans to follow up with more detailed surveys once it has interpreted the data collected.
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.