January 22 2009 – Purepoint Uranium Group Inc. (TSX:PTU.V) today announced that it has staked a new claim within the well established uranium mine trend along the eastern edge of Saskatchewan’s Athabasca Basin. The new 100% owned Henday Lake property is within ten kilometers of both Hathor Exploration Limited’s recently discovered Roughrider Zone and the Midwest uranium deposit owned by Denison Mines Corp., AREVA Resources Canada Inc. and OURD.
The Henday Lake property falls within the Mudjatik-Wollaston Tectonic Zone, a northeast trending structural zone along the eastern margin of the Basin. Over 95% of known Canadian uranium deposits, and all operating uranium mines in Canada, are located on this trend.
“Purepoint actively maintains and analyzes an extensive data base of all publicly available exploration work performed in the Basin in order to capitalize on exciting opportunities such as this” said Chris Frostad, President & CEO of Purepoint. “To be able to acquire by staking such a promising and virtually untested target in the heart of the Basin’s uranium mine district is certainly our good fortune.”
Highlights:
- located nine kilometres northwest of Areva’s Midwest Lake deposit (41 million lbs. U3O8) and ten kilometers west of Hathor’s Roughrider Zone
- up to nine kilometers of EM conductors remain virtually untested
- the single known hole (1998 by Cogema Resources) encountered a strongly graphitic fault gouge
- depth to basement is locally less than 350 metres
- within a magnetic low believed to represent pelitic basement rocks, a typical host rock for economic uranium mineralization
The Henday Lake property is 1,029 hectares in size, twice the size of Hathor’s nearby Midwest Northeast Project hosting their Roughrider Zone. Only one drill hole is known to have been drilled on Purepoint’s Henday property. Hole HLH8-71 was drilled by Cogema Resources in 1998. That hole encountered a steeply dipping, strongly graphitic fault gouge at the bottom of the hole.
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.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration of more than 55 defined target areas on its nine 100% owned projects in the Canadian Athabasca Basin, and its two Basin projects joint ventured with Cameco Corporation and UEM Inc., a company owned equally by Cameco Corporation and AREVA Resources Canada Inc. Established in the Basin well before the resurgence in uranium, Purepoint is actively advancing this 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.
Ends
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
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