January 22 2008 – Purepoint Uranium Group Inc. (TSX:PTU.V) announced today the commencement of the winter drill program on its 100% owned Red Willow project in the Athabasca Basin. The company intends to complete a total of 15,000 metres of diamond drilling during 2008 on four of its nine projects, including 4,000 metres of drilling at Red Willow scheduled to be completed by early spring.
“Follow up drilling has begun at our Q Conductor” said Scott Frostad, Vice President Exploration, Purepoint Uranium Group Inc. “After a short program there, we will then initiate first pass drilling at several of the property’s other 13 target zones this winter and return to the Q Conductor with a much larger summer program”.
A video overview of the Red Willow project’s Q Conductor discovery can be viewed on the company’s web site at www.purepoint.ca.
- The program will begin at the Q Conductor where last month Purepoint reported the discovery of a wide mineralized structure returning an average grade of 0.20% U3O8 over 5.8 metres, including 1.01% U3O8 over 0.1 meters, starting at a depth of only 71 metres ;
- First pass drilling will be conducted at the Long Lake zone which is coincident with a strong EM anomaly and believed to be the source of radioactive boulders (up to 1.30% U3O8) in glacial till located down-ice of the lake;
- The 333 Zone will be drill tested at a point where an EM conductor has been outlined immediately up-ice of overburden hole #333 (Gulf Minerals, 1973) that intersected values up to 0.31% U3O8 in glacial till;
- The Lyon Lake EM conductor will be drill tested up-ice of two radioactive boulder trains discovered by Purepoint during the 2006 field season that returned assays up to 1.14% U3O8 and 1.02% U3O8, respectively;
- Weather permitting, the winter program will finish on the Radon Lake EM conductor. Radon Lake is named for its high concentrations of radon first detected in 1971. Recent refinement of historic geophysical surveys and new surveying by Purepoint indicates that previous drilling did not effectively test this promising target.
Red Willow Project
The Red Willow project adjoins AREVA Resource Canada Inc.’s claim group that contains the JEB, Sue, McClean and Caribou deposits to the west and, adjoins UEX’s Hidden Bay project that surrounds the Rabbit Lake, Collins Bay and Eagle Point deposits to the south.
Long Lake Zone
A number of radioactive boulders were discovered on the Red Willow property in 1975 by Gulf Minerals. By 1984, Eldorado Resources had determined that these boulders were part of a boulder train that returned assays of up to 0.80% U3O8. Prospecting by Purepoint during the summer of 2006 widened the original boulder train and extended it one kilometer further up-ice (i.e. closer to the bedrock source for these rocks). Uranium values up to 1.30% U3O8 were identified. Two EM conductors have now been defined by Purepoint at the up-ice end of the boulder train and these will be a major target of this winter’s drill program.
A 350 hole overburden drill program conducted by Gulf Minerals over the eastern portion of the Athabasca Basin in the 1970’s returned its best results on the Red Willow property. Drill hole #333 intersected 0.31% U3O8 hosted in glacial till. Additional overburden drilling designed to trace the uranium to its source was recommended at the time but this work was never undertaken. The recent VTEM survey flown by Purepoint has outlined a 1.1 kilometer long EM conductor located only 200 metres up-ice of drill hole #333.
Lyon Lake Zone
Geophysics conducted by Purepoint in 2007 defined an EM conductor coincident with, as well as up-ice of two lithologically distinct boulder occurrences. Values of 1.02% U3O8 and 1.14% U3O8 have been returned.
Radon Lake Zone
High concentrations of radon (a product of the decay of uranium) were first detected in Radon Lake in 1971. Between 1979 and 1981 thirteen drill holes were completed in the Radon Lake area. A VTEM survey conducted by Purepoint in 2006 and reinterpretation of the historical geophysical results shows that only three of the previous drill holes intersected the prospective conductive horizon. Like many of Purepoint’s Athabasca Basin properties, the depth to the unconformity at Radon Lake is shallow at an average of only 68 metres.
Purepoint Uranium Group Inc. is focused on the precision exploration of more than 42 defined target areas on its seven 100% owned projects in the Canadian Athabasca Basin, and its two Basin projects joint ventured with 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.
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