November 7, 2006
Purepoint Uranium Group Inc. (TSX-V:PTU) is proud to confirm that an evaluation of numerous uranium projects drilled in the Athabasca Basin this past year published in the November 2006 issue of the Northern Prospector Magazine selected Purepoint’s 100% owned Turnor Lake project as demonstrating the greatest potential for hosting the world’s next “super-deposit”.
The Northern Prospector compared the results of all publicly disclosed drill programs against seven criteria derived from an overview of a typical uranium deposit setting. The article provides readers with an excellent but simple format to better understanding and interpreting the results of uranium drill programs.
- Indicators consistent in all major Athabasca Basin deposits include the existence of structural faulting, graphitic conductors, and an alteration halo around the deposit containing hydrothermally altered rock and elevated uranium levels;
- The depth of potential deposits, which are generally found near the unconformity, significantly affects the cost of exploration for and the economic feasibility of any deposit ultimately found;
- Purepoint’s southern-most Turnor Lake targets were the only targets to obtain high scores in all seven categories;
A complete copy of the article is available at www.purepoint.ca/news.
“After the 1980’s the uranium industry lost an entire exploration cycle that only shifted back into gear two years ago,” said Chris Frostad, President and Chief Executive Officer, Purepoint Uranium Group Inc. “As a result most publicly listed uranium companies today are operating at the earliest stages of exploration where it is difficult to differentiate the real potential for individual properties and targets. Articles such as the recent one in the Northern Prospector are important in helping form and clarify investor expectations.”
Last winter represented the first extensive junior exploration drill season in the Basin since the boom began in 2003. The article, “Who’s Leading the Race for the World’s Next Uranium Super Deposit”, reviewed the publicly releases results of 20 junior exploration companies drilling in the Basin in 2006.
Canada’s Athabasca Basin provides approximately 30% of the world’s uranium production and boasts ore grades in excess of 20%; 100 times that typically mined through out the rest of the world. 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.