TORONTO, April 12, 2021 /CNW/ - Purepoint Uranium
Group Inc. (TSXV: PTU) ("Purepoint" or the "Company")
today released its exploration schedule for the remainder of the
year, focusing on its large portfolio of 100% owned uranium
projects strategically located across Canada's Athabasca Basin; host to the world's highest
grade uranium resources.
"There has been significant investment flowing into uranium
companies over the past six months, signaling a potential near-term
revival of uranium prices" said Chris
Frostad, Purepoint's President and CEO. "The timing is right
for us to return to the exploration projects we initiated over a
decade ago. We believe that the investments we make in advancing
these projects now will unlock significant value and opportunities
over the coming year".
Highlights:
- Scheduling reflects the anticipated timing of permit
applications, the availability of contracted service providers and
seasonal weather conditions
- Permits are in place for work at the Company's Red Willow, Henday and Umfreville projects
- Drilling is scheduled to take place on these projects in Q3
2021
- Additional permit applications are being prepared for the
Turnor Lake, Smart Lake,
Carson Lake and Russell South projects
- Initial airborne geophysics have been scheduled for this summer
on Purepoint's four Tabbernor Block projects
- Ground electromagnetic and resistivity geophysical surveys are
proposed/planned in Q4 2021 at the Smart Lake and Carson Lake projects
- Additional details on each of the Company's projects will be
provided in the coming weeks
"In addition to our work at Hook Lake over the past few years,
we have continued to maintain our advanced 100% owned assets while
staking additional claims in prospective areas. said
Scott Frostad, Vice President
Exploration at Purepoint. "The permits we currently have in
place will allow us to commence our expanded exploration efforts
immediately".
About Purepoint
Purepoint Uranium Group Inc. actively
operates an exploration pipeline of 12 advanced projects in
Canada's Athabasca Basin, the world's richest uranium
region. Purepoint's flagship project is the Hook Lake Project, a
joint venture with two of the largest uranium suppliers in the
world, Cameco Corporation and Orano Canada Inc. The Hook Lake
JV Project is on trend with recent high-grade uranium discoveries
including Fission Uranium's Triple R Deposit and NexGen's Arrow
Deposit and encompasses its own Spitfire discovery (53.3%
U3O8 over 1.3m including 10m
interval of 10.3% U3O8). Together with its
flagship project, the Company's projects stretch across
approximately 175,000 hectares of claims throughout the Athabasca
Basin. These claims host over 20 distinct and well-defined
drill target areas with advanced geophysical surveys completed, and
in some cases, have had first pass drilling performed.
Scott Frostad BSc, MASc, PGeo,
Purepoint's Vice President, Exploration, is the Qualified
Person responsible for technical content of this release.
Neither the Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this Press
release.
Disclosure regarding forward-looking statements
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company. These risks and uncertainties could
cause actual results and the Company's plans and objectives to
differ materially from those expressed in the forward-looking
information. Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and expressly qualified in their entirety by this notice.
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SOURCE Purepoint Uranium Group Inc.